U.S. House passes bill to sue OPEC over oil prices

Indy - 7/5/2008 at 00:01

Not sure if this was brought up yet here or what the status is of this legislation.

Quote From Source:

The House overwhelmingly approved legislation 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.
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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.

Click source url to view entire story.

Source URL: http://www.boston.com/news/nation/washington/articles/2008/05/20/us_house_passes_bill_to_sue_opec_over_oil_prices/

I'd love to see some action on this. Because under the definition of U.S. law OPEC is a criminal organization. I think Congress has an obligation to attack them and treat them as an organized crime operation. Their crimes include collusion and price fixing.

MountainManMike - 7/5/2008 at 01:39

how does this work if opec isnt in the US? how do our laws apply to them? they cant go kill any random american outside of war over there and then be brought over here to be put on trial. this doesnt make much sense to me.