Yeah...that should work.

Perhaps after this we can sue C02.

Can you say .......... GAS RATIONING ?

These assholes can get a vote together, on something as stupid, and ineffectual this ...but can't unlock our resources, or break ground for 20-40 nuclear power plants. Just blame OPEC !

Perhaps after this we can sue C02

And rainbows.

Can you say domestic oil exploration?

Damn environmentalists are hurting the national interest with their silly objections to domestic oil exploration and drilling. Now that the dolalr is cheap it would benefit us greatly to be experting oil, but no, got to protect some damn animal up north or the whales or dolphins in the gulf cost. Think about that the next time you go to the pump and see $4/gallon.

If we had domestice oil production our trade deficit would also be going down which would be good as we wouldn't continue to sell America at about the rate of $2B a day.

"Can you say domestic oil exploration?"

Do these anti-trust laws only apply to current wells?

Wouldn't our objection to drilling, and thus increasing output, in our own backyard be a violation of these same anti-trust laws?

"The House of Representatives overwhelmingly approved legislation on Tuesday allowing the Justice Department to sue OPEC members for limiting oil supplies and working together to set crude prices..."


Sounds kinda like the crap the oil companies here have been pulling for years.

Bush already said yesterday he would veto it this bill if it hits his desk. Besides, OPEC is not bound by U.S. anti-trust laws. I'd have to read more about it but this lawsuit looks dead in the water to me.

Stupid fucking dems, I love election season.

LOL!

Where the fuck is Danforth, I bet he is so so very proud of this do nothing democratic party in power.

Talk about wasted BAD bills and spending our tax dollars on stupid bills that have NO chance of ever ever getting passed.

The DEMOCRATIC PARTY is the lazy do nothing party wasting a continuous 2 years of tax payers money.

Anyone who supports this DNC power in house is morons.

Stupid fucking dems

AKA "the Bush Presidency"

I gess I is a moron. I had thot thet th bestist way ta rid us uf th Bushies wus ta vote em ot. i now nowe thet wii shud qwit hafwey and be all jaded and superior, casting our lot with those who can afford the tickets out of the common cause you have abandoned; the nation, and its promise, you have abandoned.

But then you know best.

First we have to get the OPEC people to pass anti-trust laws favorable to the US.

That is most likely enough on the list. We aren't going to get past #1 so why have a two?

Note to legislature, Stop waisting time tilting at windmills. Get us the hell out of the Land of OPEC and watch the price of crude fall. (that or some sorely pressed country will oops their asses into radioactive dust)

Since they have proved incapable of doing anything useful, they have decided to BS the public with this to 'look busy'.

That is most likely enough on the list. We aren't going to get past #1 so why have a two?

'Cause in an election year, it looks really cool if you are a Dem and can pick up voters ignorant enough to believe OPEC can be sued.

The sad part is that they probably can. There are enough stupid people in America who'll actually believe in it.

"Where the fuck is Danforth, I bet he is so so very proud of this do nothing democratic party in power."

I'm a lifelong independent, dickhead. I'm just pointing out how much of an ignoramus you are regarding how governance is a the mercy of Robert's Rules of Order, and how ANY group, Republican, Demcratic, or Martian, can gum up the gears by setting the record for obstruction in less than half the time.

ya know, I hate to say it, but the ride is over. It is about time that we applied American technology to solve this problem, and do what we are proud of. It bugs me that shrub has no real interest in pushing for an energy independant america, when that is just what we need. IMHO, as usual, the gov't is failing us as usual and it will be the small business who hauls our ass out of this problem, if they get the chance.

It bugs me that shrub has no real interest in pushing for an energy independant america, ...

Yep. It's been downhill ever since Reagan took those solar panels off the White House . . .

"It's been downhill ever since Reagan took those solar panels off the White House . . ."

Yes, it has. When Reagan gutted the investment in research into green technologies and alternative energy we lost a substantial head start in a vibrant, and inevitable, market.

Did it say sue or nuke. My vision is poor?

When Reagan gutted the investment in research into green technologies and alternative energy

???

I'm sure you have a link to support this?

Who can we sue to get me a goddamn pony?

This could actually work, these guys have a lot invested outside their countries. People don't understand how much power the G7/G8 countries have.

This could actually work, these guys have a lot invested outside their countries. People don't understand how much power the G7/G8 countries have.

The power they hold with oil pales in comparision.

Ask again in 100 years and the tables will be turned.

Oh yeah, like that's gonna work.

Actually, it might just push OPEC into a refusal to do business in the U.S. at all. Hey, they've got plenty of customers elsewhere now.

I personally think the House (and the Senate) should be sued - for not passing stringent limits on fuel economy years ago. They should have severely limited the size, weight, and engine size of passenger vehicles fifteen or twenty years ago. They should have made good and goddamn sure that SUVs and pickemup trucks were counted as passenger vehicles, too. Instead, they coddled the auto industry by doing the least amount possible, and leaving loopholes big enough to drive a Suburban through.

You guys don't know me in person, but I was frothing at the mouth about all these dipshit SUVs years ago. I could see where it was going, and I could not believe that a country that went through the oil crisis of the '70s was capable of making such dumbass, dumbass, dumbass choices. When it became clear that people were going to do the fashionable thing instead of the sane thing, Congress shoulda stepped in.

HAHA..Go DEMs Make those trial lawyers proud..Might as well be a UN "Non-binding resolution" how funny is that, I am sure you can Haul Hugo Chavez into court..But wait, Don't the Dems think he is just swell

Hey BetelG do You HONESTLY think Goatman would capisce what You have posted?? Hell He is still trying to figure out what he says.

Larry Mohr

Like I have always said what we should do is export NO food, and beam satelitte pictures all over the world all day and all night of fat Americans stuffing there faces and throwing piles of food away, sitting around undoing our belts and on every hour a big group of americans
just turn around and flip the birds to the camera,

Let them starve and see how much oil they can eat

Hillybilly-
How do you transport the food that you didn't plant, raise or harvest to your camera for your grotesque binge?

If Jimmuh C was so smart, he should've got himself re-elected.

Hey BetelG do You HONESTLY think Goatman would capisce what You have posted??

No, I won't capsize what he posted, Lenny

Goatman-
By your standards I suppose Bush is "smart", as are you for voting for him more than the almost forgivable once.

So You are on board with this Lenny shit too ehhhhh Goatman?? I could expect it from LeeAtWater,101chairborne,Mike Siesel. and a few other worthless fucks but You?? Why that says to Me what You are really worth. Fucking piece of shit

Larry Mohr

adios amigos

More of the same.

Geez the congress looks so bad--

Most of our oil comes from Canada--right?

Who sues OPEC? The justice department??

Don't they have more important things to do?

What a waste of resources.


Murphy

By your standards I suppose Bush is "smart", as are you for voting for him more than the almost forgivable once.

All snarkiness aside, what possesses people to make up things about others on a blog? Honestly. I want to know the answer.

So You are on board with this Lenny shit too ehhhhh Goatman??

et ego Mohron

Who can we sue to get me a goddamn pony?

Posted by RainbowBlight


Roy Rogers

"The legislation also creates a Justice Department task force to aggressively investigate gasoline price gouging and energy market manipulation."

That is the only thing I see in the story that makes any sense - at least as far as domestic manipulation, price gorging and speculation.

Suing OPEC even though those countries named have assets in the U.S. which could be seized is just plain foolish cause like MaryTylerWhore said "they've got plenty of customers elsewhere now".

"AKA "the Bush Presidency"

AKA Gore campaign
AKA Kerry campaign
AKA Obama campaign
AKA Clinton compaign
AKA JIMMY CARTER

Yeah I'm a Democrat. And yeah I'm a liberal. And yeah I think this vote to sue OPEC is pretty goddam stupid legislation coming out of the Democratically controlled Congress. WTF?

OPEC HAS ALREADY STARTED WORLD WAR 3....

and beam satelitte pictures all over the world all day and all night of fat Americans stuffing there faces and throwing piles of food away, sitting around undoing our belts

You do already.

I enjoy reading the morons blaming Democrats for this legislation... The measure passed in a 324-84. Thats right Wingnuts... there are only 84 Republicans in the House.

As far as I am concerned we should pull out of Iraq. Place some well positioned arrows pointing south and tell the Saudis to go screw themselves.

'Cause in an election year, it looks really cool if you are a Dem and can pick up voters ignorant enough to believe OPEC can be sued.

The sad part is that they probably can. There are enough stupid people in America who'll actually believe in it.

Posted by goatman


Look how many still support this sack of shit president.

Suing OPEC even though those countries named have assets in the U.S. which could be seized is just plain foolish cause like MaryTylerWhore said "they've got plenty of customers elsewhere now".

Posted by Gimme_a_Scotch


So since when has Canada been a member of OPEC?

You do realize that they are our #1 supplier of oil don't you?

BTW, OPEC will not cut off the US because they are as much a whore to $$$$ as our politicians are.

Over time it is going to be important for nations to know they will be held accountable.....

....should have smartened up and voted RON PAUL. But, you all voted for your mainstream saviors.

I'm suing Rcade for making me waste my time on this web-site. That bastard.

Stupid..

Brilliance.

They expect their suit will have any teeth?

This is the legislation we're left with when impeachment "is off the table" and we can't get anything else passed with a veto proof majority?

Thank you Harry Reid and Nancy Pelosi.

What's next, suing the New England Patriots? Steroid abusers in baseball?

In their zeal to "do something" Congress again shows us what they're made of. Brilliant...

To 726 I said as you quoted:
"...OPEC even though those countries named..."

The article said:
"The bill would subject OPEC oil producers, including Saudi Arabia, Iran and Venezuela, to the same antitrust laws that U.S. companies must follow"

So where do you get Canada?
Besides with crude at $135 barrel do you think that Canada is gonna be a nice guy and sell it to the U.S. for $60 barrel?

These people are PATHETIC.

They are incredibly incompetent. They are the ones who should be sued. Sued for wasting our time and our money. Cripe we should sue their parents for having them and inflicting these pathetic loosers on the world.

There are so many things they could be doing. Many mentioned earlier, more drilling, more nuclear power, lowering taxes, etc. But what do they do, something totaly ineffective.

PATHETIC...

"PATHETIC..."

Posted by sawdust at 2008-05-22 10:13 AM

Nothing new here.
I suggest reading Will Rogers and Mark Twain on congress.

gee, I wonder what the price will be if OPEC launches another embargo?

personally think the House (and the Senate) should be sued - for not passing stringent limits on fuel economy years ago.

Didn't they do that in the seventies? CAFE standards? Didn't it turn out we have since tripled our need since those standards? I would think about seventy percent of the oil we use has nothing to do with autos. Our glutten for oil is manufactoring. Don't we use two barrels a day to the rest of the industrialized worlds one?

This is all based off of rising gas prices so suing OPEC is retarded. The global supply of crude oil is greater than the demand is currently. Yet gas prices continue to rise at a ridiculous rate. Maybe the market should stop taking into account how much rapid and false speculation occurs.

If you're going to sue someone sue the damn oil companies who take that crude oil and turn it into gasoline. The same companies who haven't built a new refinery since the 70s. The same companies who run their old refineries at 80% capacity. The same companies who are keeping their production levels flat for the next 4 years to maximize their profits. If anyone is being criminal it's companies like Exxon Mobile, Shell, BP, etc. But still, even suing this scum bags is a dumb idea as well.

The only good thing in this bill is the task force for investigating price gouging. But I doubt that would ever happen even if this went into effect.

Why can't Congress seem to focus on issues that actually matter instead of always coming up with retarded ideas for todays hot topic? WTF.

****"The legislation also creates a Justice Department task force to aggressively investigate gasoline price gouging and energy market manipulation."*****

.......where are all the conservatives to defend free market capitalism ?.......

........price controls are a form of socialism that our resident right wingers usually get frothy about.......

.......come on guys......defend OPEC's right to charge whatever the hell they want......

What a bunch of retards.

Advice: Vote against every incumbent, they are stupid.

This is the most bass ackwards stupidity our elected officials have ever come up with, and that's saying something.

If Bush vetoes this, he'll actually be right about something...

-Viz

Sue OPEC?

but the White House threatened to veto the measure.

Wonder why?

The Onion. It's even funnier because it's true.

Posted by dfiant

Holy God in Heaven that was fuckin funny

A sign of things to come.

The thrilling sequel to Culture of Corruption ==> Culture of Incompetence.

***** Besides with crude at $135 barrel do you think that Canada is gonna be a nice guy and sell it to the U.S. for $60 barrel? ******

......refiners bid on oil supplies........

.....so if one country is selling even a dollar lower than another, then that country will get a huge boost in bids, pushing its price on par with everybody else.......

.......so the whole world rises and falls at the same prices........

........the only exceptions are the selling prices in countries where the oil supply is nationalized (like Venezuela, Iraq, Iran etc ) where the government pulls supply "off the shelf" and sells it a low cost to its own citizens.......

........some countries are still selling subsidized gas for pennies a gallon to their own......

......just seems ironic that America wants to sue countries for being capitalistic......

What a clever and innovative way to raise gas prices.

......just seems ironic that America wants to sue countries for being capitalistic......

Posted by skizziks at 2008-05-22 01:24 PM | Reply |

Hear, hear...I would even say hypocritical.

Silly me I did not know Capitalism meant market manipulation and price gouging.

Learn something new every day.

***** Silly me I did not know Capitalism meant market manipulation and price gouging. Posted by Salaryman ******

......thats exactly what it means......

.......create a need , create a perception of scarcity, gouge for every penny the suckers will pay.......

br />

.......its economics 101..........

......there is a limited, deminishing resource.....
.......there is an expanding, growing market.......

........prices will rise.........

......instead of codling the oil and car companies like we have for decades........
........we should have been planning for the post-oil world......
.......but we have short-sighted leadership........
.........so..........pay up.................

Lemme see, we sue OPEC and the price of oil goes up to cover it. We tax oil company's windfall profits, and the price of oil goes up. We should have attacked Saudi Arabia!

"Like I have always said what we should do is export NO food, and beam satelitte pictures all over the world all day and all night of fat Americans stuffing there faces and throwing piles of food away, sitting around undoing our belts and on every hour a big group of americans
just turn around and flip the birds to the camera,

Let them starve and see how much oil they can eat"

Dear Aptly-Named-Hillbilly:

Do you have any fucking idea how dependent this nation's agribusiness and agricultural distribution is on foreign oil?

No, of course you don't.

"beam satelitte(sic) pictures all over the world all day and all night of fat Americans stuffing there(sic) faces"

Fat, illiterate Americans ...

Another dumb Democrat action. How can any ruling against OPEC be enforced without military action? Hey dumb Dems, how about supporting domestic oil exploration instead of kissing the Sierra Club's butt hole all the time?

We need to pull out of Iraq and Afghanistan and use those troops to take foreign oil fields by force as a matter of national security. Let's start with Venezuela and lib friends Hugo Chavez.

Why not start with Saudi Arabia? They have a lot more oil, and, unlike Iraq, they were involved in 9/11.

Too many fucking lawyers in government .

How stupid the Justice Department can now sue OPEC. Like OPEC will obey the courts...lol...OPEC should be telling America, if you want more oil production, then drill more for it, in your own country.

Only the ASSHOLE libs in congress could come up with this screw ball idea. Because of this action I'm sure the price of oil will go down.

There is only one group to blame for the gas price increases and that is the liberals in congress. IT IS TIME FOR A CHANGE PEOPLE!

I just "Love" how You fucked up righties ALWAYS blaming Liberals for Your fuck ups. Democrats have only been in control since January 2007. Before that time the REPUBLICANS held all 3 branches of Government. Why don't You look to Your fellow Republicans instead of shirking Your responsibility?? Funny Dat Be.

Larry Mohr

LAR-
Unless/until one party amasses 60 seats in the Senate it's pretty difficult to get anything substantial passed. Surely you realize the handful of "moderates" on both sides must be placated by their respective party in order for anything to get through Congress.

It's quite possible Dems will get to 60 this time around... as well as claiming the POTUS and increasing its margin in the House. That scenario will lay credit/blame for what goes on squarely on the Dem party. Given the efforts of this recent Congress are you confident in your party's leadership?

Frankly, this whole oil issue is like a multi-headed dragon - multiple issues with multiple solutions. Not the least of these is to drill for more of our own oil. In all honesty, LAR, which party would you think is more responsible for refusing to allow off shore (or ANWR) drilling?

As to alternate energy sources, which party do you honestly feel has been more of a hinderance in terms of building nuclear plants or additional refining facilities?

Which party boasts environmentalists among its core constituencies? Energy exploration has come a long way since the early days of oil barons in terms of safety/efficiency. Surely there can be a happy medium between wildlife and our nation's need for oil - or are we to wring our hands, blaming others while our nation is brought to its financial knees?

"Surely there can be a happy medium between wildlife and our nation's need for oil - or are we to wring our hands, blaming others while our nation is brought to its financial knees?"

Wildlife is responsible for our wasting of so much energy???? Our problem is not energy production it is energy waste. In the 21st century we need a whole new way of looking at energy consumption. I can't see ever drilling in places like Anwar as long as people are still driving inefficient SUVs with one or two people in them, as long as people are building inefficient McMansions that require huge amounts of energy to heat and cool. Our grandchildren will remember us by how we leave this country and this planet for them, the oil we suck out of Anwar will be long gone when they are grown and wondering what the world was like when there were still some natural spaces left, with some wildlife left. Instead of blaming environmentalists it is finally time for the country to start really listening to them and stop wasting the resources and destroying the environment.

Oh, one last thing, why the hell are we still spending hundreds of billions of dollars to rebuild a member of OPEC's infrastructure but neglecting our own???? Why should we spend one more cent for anything in a country that is helping to bankrupt our own economy???
Congress should finally stop funding this war.

DANNI-
So are you of the mind we can conserve ourselves out of this pickle?

It's clearly a supply issue.

Here's a radical thought: what if we were to implement both your idea and mine?

Supply issue.....LOL!!!

I guess people here just don't seem to educate themselves on this issue.

As the mighty righties used to say a few years back, we see all kinds of gas lines and rationing because it is a supply issue.

MON-
Educate me, then.

We've got lots of oil if we'd go get it and refine it.

Demand is actually decreasing at this time and the price is still increasing.......imagine that!

I would suspect a prudent man might come to a conclusion that there is a market failure here because it is not following the standard economic ideas and theories. I would say there is alot of political monopoly going on but that's just me.

300+ billion barrels today in surplus/supply and in 2025 the estimate will be around 1000+ billion barrel but yes we need to drill in environmental protection areas because we have a supply problem..............Yep, sure, yubetcha!

If this was such that the government wanted to reduce our price they would be building refineries to keep GAS lower in price but then they wouldn't get those large pay checks from the oil companies for campaigns and congression votes.

I would bet that the evil intent of the oil companies that we imagine is probably no where near as evil as the reality. Most of us don't even understand the basics of oil futures, commodities trading, etc. (and I do include myself in most of us) so the few who do understand all of it and have the capital to manipulate it can laugh at us as they rake in billions. We are insignificant pawns in the world of high finance.

Standards in pricing is for every 1% increase in price there should be a 1% decrease in demand.

Oil well for every 10% increase in price there is a 1% decrease in demand. Market failure glaring and no one does anything about it.

It is a sure sign of a monopoly, but it is masked as if that is not the case.

I know, I know you all will said, if you don't like it don't fuckin buy it, meaning don't drive. Yep, that certainly answered the question. I guess my bicycle is in direct competition with my gas car.

Remember when the oil company executives testified before Congress when the REpublican majority still ruled and they were not asked to testify under oath??? That should have told us something.

Is demand really shrinking? To the contrary, between our growing needs and those of countries like China world demand is increasing. A failure to grow production/refining accordingly will boost pricing.

Long term I think you and I agree the US would be much better off developing alternate energy sources. Meanwhile, we are sitting on our own oil - but can't/won't go get it.

As to our gov't building refineries - maybe we should inquire as to why they aren't being built. Could onerous regulatory issues be the culprit? Same for nucular (a little Dubya humor there) plants.

Our refining capacity is about spent. Hurricane Katrina should have been a wake up call for more refining capability.

Is demand really shrinking? To the contrary, between our growing needs and those of countries like China world demand is increasing. A failure to grow production/refining accordingly will boost pricing.

Wrong but I see you are unable to educate yourself.

The reason bush wants to increase supply because then too much oil will be in the market reducing the price.

Oil is increasing in price because WE are printing U.S. dollars like a mad cow causing inflation.

"Oil is increasing in price because WE are printing U.S. dollars like a mad cow causing inflation."

BINGO!!!!

World oil demand will rise much less than expected in 2008 because of slower economic growth in the United States and other industrialized countries, the International Energy Agency (IEA) said on Friday....

Global oil consumption will rise by 1.27 million barrels per day (bpd) in 2008, 460,000 bpd less than the previous forecast, said the Paris-based agency in its monthly Oil Market Report....

Lower demand in members of the Organization for Economic Co-operation and Development (OECD) accounted for the bulk of the revision.

The IEA cut expected OECD demand this year by 320,000 bpd to 48.9 million bpd.

Better off to just Nuc the whole middleeast.

Sue? Hell, it's time for war. We're under attack. Send the flotilla to seize the oil fields and refineries.

"Send the flotilla to seize the oil fields and refineries."

Sounds like a plan.

How's the Iraqi oil business doing these days?

They should be just about ready to pay for things now, dontcha think? Huh, Mr. Wolfson?

V. Conclusions

Dollar depreciation reduces activities in upstream through different channels including increased cost, higher inflation rates, lower purchasing power, and lower return on investment. Dollar devaluation increases oil demand in countries with appreciated currencies because of an increase in purchasing power. It also increases the demand for gasoline in the US as Americans spend their summer vacations driving in the US. Large dollar devaluation reduces the supply of oil and increases the demand for oil. Therefore, oil prices will stay high for a longer period than analysts expect.

www.mees.com


sounds like the conclusion doesn't back any one point being made above....whoda thunk it, the truth lay somewhere in the middle.

House Passes Bill to Sue OPEC and to avoid accomplishing anything meaningful for America that day.

Sounds kinda like the crap the oil companies here have been pulling for years.

Posted by morris

The largest oil co in the US only controls about 2% of the oil. That's some smart trick.

I guess you don't believe prices are set on the world market. Who controls most of the oil? Looks to me like foreign governments do. Government control of the oil is our problem.