Posted on May 21, 2008 - 5:33pm by Everitt Mickey in Economy, News, Politics
If it wasn’t so serious it would be funny.
I subscribe to a Blog written by a fellow by the name of Warren Meyers. His Coyote Blog is a hoot. It’s also very educational. I highly recommend it to all who would like an insight as to how the world works from a small business point of view.
On May 21 of this year he posted Congress, Sue Thyself.
It seems that our leaders in congress are upset about the high cost of fuel. Nevermind that THEY are the ones primarily responsible for that same high cost.
The fact that Congress has placed many of the places in the US that are known to contain oil OFFLIMITS to drilling and production,
The fact that Congress recently injected a HUGE amount of money into the economy thereby inflating the money supply and consequently driving up prices,
Is irrelevant.
Nope, they NEED someone to blame. It’s coming up on an election and they are getting seriously stressed. Imagine how bad it might be for them NOT to get re elected and actually have to find a job? The horror.
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.
The legislation also creates a Justice Department task force to aggressively investigate gasoline price gouging and energy market manipulation.
“This bill guarantees that oil prices will reflect supply and demand economic rules, instead of wildly speculative and perhaps illegal activities,” said Democratic Rep. Steve Kagen of Wisconsin, who sponsored the legislation.
The whole sorry state of affairs is documented in all it’s grisly splendor here.
Think about it when it comes time to vote.
Luckily Bush showed a bit of common sense. He threatened to Veto. Possibly we have a couple of adults in Washington?
Nawww.
Canada's Oil Supply 2nd only to Saudi Arabia
Jevic Goes Under, More Bad News To Come?
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