May 29, 2008
Congress & Oil Law Suites -Critical Thinking Required
Analysis of:
Let’s Sue OPEC! That’ll Teach ‘Em! | www.energytribune.com
This analysis is solely the work of the author. It has not been edited or endorsed by GLG.
Implications: * Congress cannot dictate oil policy to a world cartel by passing laws * United States must eliminate there consumption of foreign oil * Congress must lean economics 101
Analysis: Everybody is aware that OPEC is a world CARTEL. You cannot sue a member of a CARTEL that is essentially sole source provider of a product-OIL. By the Sherman Antitrust laws, a CARTEL is illegal, however to think that Congress can create a new law making producers of OIL lower the price or sell more oil to the United States is just ignorance. It is like passing a law telling IRAN to stop there nuclear power program, it will not work. The only way OPEC will listen to the United States is to immediately lower consumption and initiate a energy program by drilling and refining oil domestically to meet all our domestic and military needs. Also United States needs to enhance alternative energy sources including nuclear power for long term use.Only when OPEC comes to the realization that the United States no longer needs their OIL, will the unit price of a barrel of oil be drastically reduced. It is time for members of Congress to learn economic
Analysis: Everybody is aware that OPEC is a world CARTEL. You cannot sue a member of a CARTEL that is essentially sole source provider of a product-OIL. By the Sherman Antitrust laws, a CARTEL is illegal, however to think that Congress can create a new law making producers of OIL lower the price or sell more oil to the United States is just ignorance. It is like passing a law telling IRAN to stop there nuclear power program, it will not work. The only way OPEC will listen to the United States is to immediately lower consumption and initiate a energy program by drilling and refining oil domestically to meet all our domestic and military needs. Also United States needs to enhance alternative energy sources including nuclear power for long term use.Only when OPEC comes to the realization that the United States no longer needs their OIL, will the unit price of a barrel of oil be drastically reduced. It is time for members of Congress to learn economic
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