Posted on 05/05/2022 12:14:40 PM PDT by PGR88
The U.S. Senate Judiciary Committee has approved the No Oil Producing and Exporting Cartels Act (NOPEC) bill, Reuters reports, paving the way–if signed into law by the president–for a lawsuit against OPEC for antitrust behavior and market manipulation.
The Thursday vote saw the U.S. Senate panel come out in favor of NOPEC, which has been on and off the table for decades, failing to get past Congressional committees until recently, when gasoline prices in the U.S. have maintained all-time highs.
It is still unclear whether the bill, approved by the Senate panel, will move on to the Senate or to U.S. President Joe Biden. It is also unclear whether Biden would sign this legislation into law.
(Excerpt) Read more at oilprice.com ...
I thought this was strangely coincidental, given present rough relations between Biden and Saudi Arabia, CIA Director’s very recent visit to Saudi, and recent attempts to push the Saudis to increase oil output
LOLOL. What an empty-suit gesture. It's so they can tell the rubes back home "We are working SO hard to lower your gasoline prices. We care about you. We really do."
Parts of our government seem determined to make everyone in the world an enemy - all at the same time.
Does OPEC care about this ?
Nope.
They have the oil.
Now they’ll pump more oil.
sarc/
The NOPECkers are mad at the OPECkers.
So is this going to bring down prices at the pumps?
Uh, as I recall, the president recently asked/begged OPEC to manipulate the oil market.
I guess the “Blame Russia” thing didn’t work.
The U.S. has no jurisdiction over Saudia Arabia.
This is just pure bullshit.
What nonsense. Is this what congress is wasting their time on? OPEC is literally laughing all the way to the bank. Soon they’ll be trading in their dollars for yuan.
Nopecer envy? Transtrolieum?
Call me crazy but looks like Washington is really trying hard to destroy the whole reserve currency thing.
OPEC member Venezuela owns CITGO
and
https://www.theamericanconservative.com/articles/saudi-arabia-now-controls-north-americas-largest-refinery/#:~:text=Saudi%20Aramco%2C%20Saudi%20Arabia‘s%20state,is%20completely%20owned%20by%20Aramco.
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