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US to sue OPEC oil producers?

May 27, 2008

Sometimes I wonder in which parallel universe our elected “representatives” live. Take for instance a new bill passed by the House on May 20, allowing the Justice Department to “sue OPEC members for limiting oil supplies and working together to set crude prices.” It almost appears as though Congress really cares about the plight of the average American dealing with the spiraling price of gasoline.

The reality is that OPEC oil producers are not American companies, and do not sell their product within the United States. Although this legislation may make you feel better, it will do nothing but further alienate oil producers from US oil consumers. Were I an OPEC member nation, my displeasure over this bill would probably manifest itself in the following ways:

  • Withdraw all of my assets from American banks
  • Sell off all interest in US corporations
  • Sell off all US real estate holdings
  • Dump my US Dollar holdings
  • Refuse to sell my product to any American company
  • Refuse to accept US Dollars in exchange for my product

What can you do? Write to your elected “representatives.” Let them know that it’s time to produce oil in this country again. Tell them that it’s time to allow the building of a few new oil refineries. And finally demand an end to the roadblocks the hamstring the building of new nuclear power plants.

Until next time,

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