Posted on 10/07/2022 7:09:06 PM PDT by BenLurkin
White House and congressional leaders are eyeing several responses to protect U.S. consumers, ranging from an effort to wrest market control away from OPEC, limiting U.S. companies’ energy exports, and easing sanctions on unfriendly oil-producing nations — each of which carries serious potential downsides for American interests.
For now, the White House is pledging to work with Congress on a bill to allow the U.S. to sue oil cartels for antitrust violations...
The so-called NOPEC bill — No Oil Producing and Exporting Cartels — would change antitrust laws to allow the Justice Department to sue nations that restrain trade in oil, natural gas or any petroleum product.
Some Republicans scoffed at Biden’s vow to consult with Congress on the OPEC response, saying Democrats need to show a willingness to increase drilling at home.
(Excerpt) Read more at politico.com ...
That doesn’t make sense after the regulations and other measures that cut production here.
Then the USA will be able to sue the USA.
The Biden regime is impotent here. They rendered themselves impotent when they hobbled domestic oil and gas production.
A smart administration would have maximized domestic oil and gas production. Then they could have simply taken market share from OPEC if OPEC ever decided to cut production. But when you throw your best cards away before the hand, you have nothing left to play when the time comes.
One would think that in order to 'wrest' control away from OPEC it would logically have to have functional control in the first place
What Biden and crew will do is to threaten to withdraw support for Saudi nations in other matters like defense assistance, etc. In any case, it won't help him in the mid terms - likely not even in 2024.
I know. Every article I read about Biden’s initiatives is followed immediately by a check to see if it is written by the Bee.
There goes the petro-dollar ...
Why don’w we drill here? We did, under Trump. We were energy independent, remember? That was completely unacceptable to the Marxist wing of the Dem party. So now Biden is blowing smoke to represent his bravado.
Challenge: list one act of Biden’s that has been unassailably good for the USA.
Betcha can’t.
They gave up every single piece of leverage they had when they destroyed Americans energy independence
Exactly. Think back to 2019, when not only where we energy independent for our own needs, but a major exporter, too.
No, I can’t think of anything. Face it; Biden broke it.
Democrats. Always with the “punishment”. Their response to any resistance or difference of opinion is “punishment “. Now in international relations no less. This would be wrong-headed and counterproductive no matter who did it but the fact that demonrats are insane ideologues who destroy their own leverage as they go makes it dead certain that THIS WON’T END WELL.
Watch out world, King Brandon of Moronnistan is taking off his sunglasses now. Woe is us what can we do?
Academics in action
Incompetence mixed with stupidity is a combination for disaster.
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So is malice mixed with greed.
...in order to make her subtle-as-a sledge hammer polemical points, she had to concoct the most unrealistically stupid and evil cartoon villains for her heroes to oppose.
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Considering she lived in a communist regime, perhaps she was actually writing from life and we were too sheltered and spoiled to realize that.
...threaten to withdraw support for Saudi nations in other matters like defense assistance, etc.
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Saudi has already expressed interest in joining BRICS+.
You may be right.
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