Congress: let’s sue OPEC

by Walter Olson on May 21, 2008

This wretched proposal to pursue sensitive foreign policy goals by way of treble-damage antitrust suits against sovereign nations is met by a hail of dead cats from Below the Beltway, Gateway Pundit, Liberty Reborn, Buffalog, Coalition of the Swilling, Sense of Events, Q and O, Coyote, Politics in the Zeros, Socrates’ Academy, It’s a Funny Thing, Bronze Blog, Discerning Texan, Blog About Nothing, It Looks Obvious, NoBrainer’s, Wheeling Intelligencer, and Collideoscope, among others. Earlier here.

And yet more: Perry de Havilland, Samizdata (“a derangement of legislators”)(via ASI).

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Mark Steyn on the suing-OPEC bill
05.27.08 at 10:06 am

{ 5 comments }

1 Jame Johnson 05.23.08 at 11:03 am

Sue the bastards.

There are robbing us all blind!

Take them off our commodities exchange at once.
Let them suffer with low prices due to zero speculation.

2 PeaceMarauder 05.24.08 at 11:04 am

Yeah, take them off the US exchange and they’ll be on all the other worldwide exchanges, won’t do a thing.

Break up the cartel. Strengthen the dollar. Drill and refine at home.

3 David F. Petrano Esq. 05.25.08 at 1:11 am

Rethinking our Sanity in the “Let’s Nail OPEC and Deny Global Warming Age.”

In opening, I have taken it upon myself to inter-change words to the song “I’m Proud to Be an American Where at Least I know I’m Free” to “The Lunatics Run the Asylum in the U.S.A.”

Face it, the belief of G/W has set the stage towards a general economic tail-spin. In sum, most people in the U.S.A believe G/W is real; and as such, all kinds of unpleasant things are occurring such as; out-of-control petrol prices, real estate collapse and a steeply falling dollar.

Think of the economic effects of G/W like riding a horse who suddenly spooks. It does not matter what made the horse you are riding spook; the fact is, when your horse spooks, you are left with only 3 choices;

(1) allow yourself to fall-off (bad choice, like buying a water-front house, motorhome or a new SUV);

(2) hold-on and let the horse run you off to the barn (VERY bad choice, like the antitrust suit against OPEC to stop the high gas prices);

(3) hold-on and try to head towards clear pasture (safe choice, like raising taxes to Eisenhower-era 91% on America’s wealthiest folks to fund re-building the transportation infrastructure to include high speed rails, subways, inter-urbans and lanes dedicated to light-electric cars (in sum, a transportation infrastructure tailored to an economy not hopelessly dependant on petrol).

The lunatics are the Article I, II, III riders who sit on their spooked horses galloping back towards the barn where they break their necks the moment their horse suddenly stops at the stall-door.

The lunatics lose site of the fact it is irrelevant whether G/W is really going to occur while assessing G/W’s present, devastating impact on our economy. They also lose site of the fact the price of fuel has risen to the breaking point.

Lunatics want more G/W studies, antitrust suits against OPEC and lower taxes so they can continue to support all the high-maintenance garbage they have been acquiring since post-Reagan tax cuts (mcMansions, motorhomes, motoryachts, face-lifts, tummy-tucks, 300+HP sports cars and SUVs).

And the band of loonies play on . . .

4 Todd Rogers 05.25.08 at 8:07 am

It would be a fine vehicle to aid in the dismantling of oganizations such as the Environmental Defense Council. One of their ass-clowns who knocked on my door actually tried to argue the point that environmental ristricitions did not have any coorelation to current gas prices. That’s right, ass-clown. I thanked him for his visit and told him to enjoy his 4:20…to which he said, “Right on, dude.”

5 Nathan 06.26.08 at 11:53 pm

The fact is, the US has taken OPEC at its word about its oil reserves for years even though it is widely accepted that they don’t have as much oil as they claim. Furthermore, there is a good chance that OPEC is unable to substantially increase production.

In the early 70s, OPEC established a rule for itself that member nations could not export more than a certain percentage of their estimated reserves every year. Immediately, all OPEC countries increased their estimates of reserves by 200-300%.

In the long run, suing OPEC will accomplish nothing. Let’s say we do sue them…find them guilty and impose huge fines. All they need to do is say “no more oil for you”. Then we either beg them or invade them.

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