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Educator to comprehension impaired (JLA, that is you) 50000+ posts
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OP
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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, but the White House threatened to veto the measure.
The bill would subject OPEC oil producers, including Saudi Arabia, Iran and Venezuela, to the same antitrust laws that U.S. companies must follow.
The measure passed in a 324-84 vote, a big enough margin to override a presidential veto.
The legislation also creates a Justice Department task force to aggressively investigate gasoline price gouging and energy market manipulation.
"This bill guarantees that oil prices will reflect supply and demand economic rules, instead of wildly speculative and perhaps illegal activities," said Democratic Rep. Steve Kagen of Wisconsin, who sponsored the legislation.
The lawmaker said Americans "are at the mercy" of OPEC for how much they pay for gasoline, which this week hit a record average of $3.79 a gallon.
The White House opposes the bill, saying that targeting OPEC investment in the United States as a source for damage awards "would likely spur retaliatory action against American interests in those countries and lead to a reduction in oil available to U.S. refiners."
The administration said less oil going to refineries would limit available gasoline supplies and raise fuel prices.
Foreign investment in U.S. oil infrastructure has declined in the last decade. But the state-owned oil companies of several OPEC nations are owners of U.S. refineries, and those investments could be affected if the legislation becomes law, said Arlington, Virginia-based FBR Capital Markets Corp.
The bill also requires the Government Accountability Office to carryout a study on the effects of prior oil company mergers on energy prices.
The Senate would still have to approve the House measure.
The Senate previously approved similar legislation as part of a broad energy bill. However, the OPEC-suing provision was removed after White House opposition in order to get the underlying energy legislation signed into law. this shoulda been done a long time ago.
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Officially "too old for this shit" 15000+ posts
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I don't know how I feel about this. I like the idea of investigating OPEC for price fixing but have to question whether it won't lead to OPEC simply electing to sell its oil to other countries and leaving us without any fuel.
There's also a question as to what extent we can subject a foreign government to our laws.
Still, I think it's worth looking into.
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Educator to comprehension impaired (JLA, that is you) 50000+ posts
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Educator to comprehension impaired (JLA, that is you) 50000+ posts
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opec cant do business elswhere, without the US their price per barrell goes down the drain, and theyve built their entire way of life on the high price of oil.
ive always said that countries that want to do business in the us must do it by the same laws we require our businesses to or we are handcuffing ourselves, and in essence giving a tax break to the foreign competitors.
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some RKMB'ers are Obsessed with Black People Hmmm? 5000+ posts
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some RKMB'ers are Obsessed with Black People Hmmm? 5000+ posts
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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, but the White House threatened to veto the measure.
The bill would subject OPEC oil producers, including Saudi Arabia, Iran and Venezuela, to the same antitrust laws that U.S. companies must follow.
The measure passed in a 324-84 vote, a big enough margin to override a presidential veto.
The legislation also creates a Justice Department task force to aggressively investigate gasoline price gouging and energy market manipulation.
"This bill guarantees that oil prices will reflect supply and demand economic rules, instead of wildly speculative and perhaps illegal activities," said Democratic Rep. Steve Kagen of Wisconsin, who sponsored the legislation.
The lawmaker said Americans "are at the mercy" of OPEC for how much they pay for gasoline, which this week hit a record average of $3.79 a gallon.
The White House opposes the bill, saying that targeting OPEC investment in the United States as a source for damage awards "would likely spur retaliatory action against American interests in those countries and lead to a reduction in oil available to U.S. refiners."
The administration said less oil going to refineries would limit available gasoline supplies and raise fuel prices.
Foreign investment in U.S. oil infrastructure has declined in the last decade. But the state-owned oil companies of several OPEC nations are owners of U.S. refineries, and those investments could be affected if the legislation becomes law, said Arlington, Virginia-based FBR Capital Markets Corp.
The bill also requires the Government Accountability Office to carryout a study on the effects of prior oil company mergers on energy prices.
The Senate would still have to approve the House measure.
The Senate previously approved similar legislation as part of a broad energy bill. However, the OPEC-suing provision was removed after White House opposition in order to get the underlying energy legislation signed into law. this shoulda been done a long time ago. There's just one little roadblock to doing anything about Saudi Arabia and OPEC.  Well, two actually.....  But despite your attitude in regards to this bill, they still thank you for your allegiance.
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Educator to comprehension impaired (JLA, that is you) 50000+ posts
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Educator to comprehension impaired (JLA, that is you) 50000+ posts
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see whomod this is why you will always be an idiot. the story already points out Bush blocked this, i didnt need a unrelated picture to tell me.
reason two that youre an idiot, is ive been clear i have no allegiance to Bush. becasue you blame everything on him, and i dont you believe i have an allegiance. Bush has done many things wrong which ive pointed out. such as vetoing the child healthcare bill.
you though blame him for katrina, black helicopters, mind reading, and Ishtar....
you may now go back to your regularly scheduled blind rage...
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some RKMB'ers are Obsessed with Black People Hmmm? 5000+ posts
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some RKMB'ers are Obsessed with Black People Hmmm? 5000+ posts
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 suuure, closet gay wrestling man, suuure.
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Joined: Oct 2000
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Educator to comprehension impaired (JLA, that is you) 50000+ posts
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Educator to comprehension impaired (JLA, that is you) 50000+ posts
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Officially "too old for this shit" 15000+ posts
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Officially "too old for this shit" 15000+ posts
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I like how whomod is always Mister "we shouldn't use slurs" until someone disagrees with him. Then it's perfectly acceptable to start gay bashing.
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some RKMB'ers are Obsessed with Black People Hmmm? 5000+ posts
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some RKMB'ers are Obsessed with Black People Hmmm? 5000+ posts
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I like how whomod is always Mister "we shouldn't use slurs" until someone disagrees with him. Then it's perfectly acceptable to start gay bashing. I'm wrestler bashing. One of the most homoerotic sports out there. Don't get me wrong... I'm sure bsmas looks manly in his leotard and mullet though.
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Educator to comprehension impaired (JLA, that is you) 50000+ posts
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Educator to comprehension impaired (JLA, that is you) 50000+ posts
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some RKMB'ers are Obsessed with Black People Hmmm? 5000+ posts
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some RKMB'ers are Obsessed with Black People Hmmm? 5000+ posts
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I told you I don't swing that way.
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Timelord. Drunkard. 15000+ posts
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Timelord. Drunkard. 15000+ posts
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Your lips say 'no', but your eyes say 'yes'.
whomod said: I generally don't like it when people decide to play by the rules against people who don't play by the rules. It tends to put you immediately at a disadvantage and IMO is a sign of true weakness. This is true both in politics and on the internet." Our Friendly Neighborhood Ray-man said: "no, the doctor's right. besides, he has seniority."
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terrible podcaster 15000+ posts
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terrible podcaster 15000+ posts
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There's also a question as to what extent we can subject a foreign government to our laws. well everyone else seems to think we have to follow theirs...
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Timelord. Drunkard. 15000+ posts
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Timelord. Drunkard. 15000+ posts
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I agree with G-man. If we start fucking with OPEC, they may decide to severely limit the amount of oil they produce per day, sending gas prices through the roof. Also, if they get pissed off enough, they may decide to have oil commodities sold based on the Euro instead of the dollar and truly fuck us.
whomod said: I generally don't like it when people decide to play by the rules against people who don't play by the rules. It tends to put you immediately at a disadvantage and IMO is a sign of true weakness. This is true both in politics and on the internet." Our Friendly Neighborhood Ray-man said: "no, the doctor's right. besides, he has seniority."
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some RKMB'ers are Obsessed with Black People Hmmm? 5000+ posts
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some RKMB'ers are Obsessed with Black People Hmmm? 5000+ posts
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I agree with G-man. If we start fucking with OPEC, they may decide to severely limit the amount of oil they produce per day, sending gas prices through the roof. Also, if they get pissed off enough, they may decide to have oil commodities sold based on the Euro instead of the dollar and truly fuck us.  So maybe conservation and alternative energy, which have been ridiculed by the right since the 1970's, might have prevented us from basically begging OPEC to increase production and scared shitless about whtever whims they decide to take against any display of defiance.
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Officially "too old for this shit" 15000+ posts
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You're about to be embarassed again.
It's been-what-a couple days since doc pointed out to you that Bush was in favor of alternative energy as far back as his tenure as Governor of Texas, hasn't it? And that he was far from the only one to do so?
And now you're back spouting the same old discredited line.
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Bush was all for using the energy of the Texas turdblossom.
the liberals were against it though.
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You're about to be embarassed again.
It's been-what-a couple days since doc pointed out to you that Bush was in favor of alternative energy as far back as his tenure as Governor of Texas, hasn't it? And that he was far from the only one to do so?
And now you're back spouting the same old discredited line. Bush said alot of things he never actually did. He chose to waste thousands of lives and trillions of dollars on a dumbass war instead. So it's not discredited at all if you realize what a failure Bush is.
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He went to war while Governor of Texas?
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Doog the MIGHTY 10000+ posts
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Doog the MIGHTY 10000+ posts
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one alt a day not enough whomod?
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I'm impressed by how well you play stupid.
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Officially "too old for this shit" 15000+ posts
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Thank you whomod.
But, seriously, Bush was pushing alternative energy while governor of Texas. His tenure as governor is wholly unrelated to his actions towards Iraq. Therefore, it's ridiculous for you to push the fiction that the war in Iraw is somehow related to a failure to pursue alternative energy.
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True Pa, but you have to admit, Bush's financial policy did wonders for Texas government. He's almost as financially brilliant as Hillary. Imagine turning a few of our Cattle futures into such a huge profit in so little time.
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Thank you whomod.
But, seriously, Bush was pushing alternative energy while governor of Texas. His tenure as governor is wholly unrelated to his actions towards Iraq. Therefore, it's ridiculous for you to push the fiction that the war in Iraw is somehow related to a failure to pursue alternative energy. So you are saying those trillions of dollars couldn't have gone towards alternative energy? Or are you just trying to ignore the fact that while he was president (when he had more capability) he didn't really push for it? Which is it, rex?
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terrible podcaster 15000+ posts
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terrible podcaster 15000+ posts
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Public Enemy #4 4000+ posts
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How much is gas wher you guys live. I've seen here (in and around Cleveland) for as much as $3.99. most places have it for around $3.85. I was in Buffalo, NY last weekend and it was $3.89.
Oderint, dum metuant.
You are a god damned idiot, you know that? You ought to be smacked upside your dumb-fuck head, even after all these years. Shame on you! -USCHI showin' some love
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terrible podcaster 15000+ posts
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terrible podcaster 15000+ posts
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How much is gas wher you guys live. I've seen here (in and around Cleveland) for as much as $3.99. most places have it for around $3.85. I was in Buffalo, NY last weekend and it was $3.89. right now it's about $3.85 around h...  oh. right. 
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I'm just sayin' 10000+ posts
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I'm just sayin' 10000+ posts
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It's holding steady here at $3.79 but in Frederick MD(which is about 45 min. from where I live,it's $3.99.I figure it'll be that in a couple days.
It's a dog eat dog world & I'm wearing milkbone underwear.
I can get you a toe.
1,999,999+ points.
Damn you and your lemonade!!
Booooooooooooooobs.
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some RKMB'ers are Obsessed with Black People Hmmm? 5000+ posts
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some RKMB'ers are Obsessed with Black People Hmmm? 5000+ posts
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Any of you people drive useless SUV's?
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Joined: Oct 2000
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Educator to comprehension impaired (JLA, that is you) 50000+ posts
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Educator to comprehension impaired (JLA, that is you) 50000+ posts
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you need a ride to the free clinic?
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Public Enemy #4 4000+ posts
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Public Enemy #4 4000+ posts
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Any of you people drive useless SUV's?
Yep.
Oderint, dum metuant.
You are a god damned idiot, you know that? You ought to be smacked upside your dumb-fuck head, even after all these years. Shame on you! -USCHI showin' some love
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Officially "too old for this shit" 15000+ posts
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Officially "too old for this shit" 15000+ posts
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Any of you people drive useless SUV's?
Yep. However, it isn't useless. I live in a rural part of upstate New York. For about six months out of the year I face the prospect of snowy or icy roads. Those roads are also often populated by deer that would demolish a four wheel drive small car, like a Volvo or a Subaru and large transport trucks that kick road slush all over smaller cars and make visibility a bitch. In addition, I'm the guy in the family who typically has to haul shit around like lumber, pets, small appliances, the kids' stuff back to college, etc. So, like a lot of people in the area where I live, an SUV is the most practical vehicle. If I lived in the south or exclusively an urban area I probably wouldn't have one. However, I don't. So it makes sense. ...are saying those trillions of dollars [Bush spent on the war] couldn't have gone towards alternative energy? Or are you just trying to ignore the fact that while he was president (when he had more capability) he didn't really push for it? You really don't understand how budgets work, do you, whomod? The money in the military budget isn't just sitting around for a president to spend on some other, domestic, project. It's specifically appropriated by the president and congress for the military. If they didn't raise it for the military it wouldn't have been collected in the first place. Now you're not even trying to hide its you, whomod. A true newbie wouldn't make a rex joke this soon.
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Colonel 100+ posts
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Colonel 100+ posts
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I drive a humvee like any red blooded American should.
As for gas prices. Once we do something about those Arabs sitting on top of our oil, prices will level off.
Wow you guys are getting really pathetic, deleating my sig like that.
"We don't delete threads here. BSAMS and mxy are enough of a deterrent for mods abusing their powers like that." - Joe mama; De Jure[
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Joined: Oct 2000
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Educator to comprehension impaired (JLA, that is you) 50000+ posts
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Educator to comprehension impaired (JLA, that is you) 50000+ posts
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Who will I break next? 15000+ posts
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Who will I break next? 15000+ posts
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Whomod, you know what else is wasteful? Youtube vidoes. Do you know how many fossil fuels are burned whenever you play one of those? Youtube ain't solar powered. Why do you support big oil?
November 6th, 2012: Americas new Independence Day.
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umm, are some of you actually in favor of govt intervention to fix oil prices? The lawmaker said Americans "are at the mercy" of OPEC for how much they pay for gasoline, which this week hit a record average of $3.79 a gallon. yeah, heaven forbid suppliers set their own prices. 
State Is Murder.
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Ignored by 3 users and 2 moderators 4000+ posts
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Ignored by 3 users and 2 moderators 4000+ posts
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Mott the Hoople content User Nobody saw me do it...
few posts Tue May 20 2008 09:30 PM Reading a post
Forum: Politics and Current Events
Thread: House passes bill to sue OPEC over oil prices
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Ignored by 3 users and 2 moderators 4000+ posts
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Ignored by 3 users and 2 moderators 4000+ posts
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Mott the Hoople content User Nobody saw me do it...
few posts Tue May 20 2008 10:22 PM Reading a post
Forum: Politics and Current Events
Thread: House passes bill to sue OPEC over oil prices
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