Wednesday, May 21, 2008

Let's say you're the U.S. Congress . . .

... and you are concerned about the rocketing prices of gasoline that US residents have to pay - $3.79 national average and rising not just daily, but near hourly.

And oil prices are pushing $130 per barrel.

So you consider your options:


  1. Pass legislation authorizing development of almost 25 billion barrels of America's proven oil reserves.

  2. Sue OPEC for charging what the market will bear.

Of course, you choose number two.

WASHINGTON (Reuters) - 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.
Yes, that's the way to lower gasoline prices at the pump for beleaguered consumers: begin years and years of lawyers filing briefs, depositions and claims with who knows how long passing before they even agree what court is jurisdictional. Maybe, if things proceed very quickly, we'll get a ruling between 2020-2025. And the appeals might be settled by 2030. And of course, while all this litigation plods along, the price of oil and will just plummet, will it not? Because the lawsuit has really put the fear o' Allah in 'em, hasn't it?

Words fail.

Gosh, it's so hard to understand just why Congress' Approval Rating Ties Lowest in Gallup Records. Let it be noted that the House's vote margin proves that this stupidity was enthusiastically embraced by both parties.

I remember Jay Leno saying one recent night, "The Democratic Congress rejected the president's appeal to authorize drilling to begin in ANWR. They said it would take ten years to start pumping oil. You know, the same thing they said ten years ago."

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