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To: moneyrunner
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,

Opec only controls about a third of the worlds oil production... You don't have much control if your under 50%..

2 posted on 05/28/2008 4:36:34 AM PDT by EVO X
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To: Black Birch

I am amazed how the three candidates are racing to out-dumb each other on this issue, which the public seems to demand. I saw on Cavuto’s Your world FNC Obama let it slip that we use too much energy and eat too much food and high prices are having a positive impact on our behaviour. But at the same time he and campaign are blaming Bush for high prices and saying “he wants to talk about the high prices hurting the middle class.” (this is all the public hears, phoney compassion.) He really loves the high prices but wants to spend all that money oil stockholders are earning honestly. A similar thing happened in Maryland over electric and the voters woke up with even higher than market prices after democrat governor ran on not allowing market rates to rise.


3 posted on 05/28/2008 4:45:00 AM PDT by sickoflibs (Are libs really as dumb as they act??(maybe they just assume we are that dumb))
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To: Black Birch
Opec only controls about a third of the worlds oil production... You don't have much control if your under 50%..

Well their 33% is much higher than our current 3% and our whopping 5% maximum capacity using untapped reserves. We would have practically no effect on oil prices and it could be easily wiped out with a 2% OPEC reduction.

4 posted on 05/28/2008 5:14:56 AM PDT by Realism (Some believe that the facts-of-life are open to debate.....)
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