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  • Senate allows U.S. to sue OPEC for oil price-fixing

    06/22/2005 5:57:11 AM PDT · by StoneGiant · 6 replies · 418+ views
    Yahoo News & Reuters ^ | June 22, 2005
    Senate allows U.S. to sue OPEC for oil price-fixing By Chris BaltimoreTue Jun 21, 7:23 PM ET The U.S. Senate voted on Tuesday to allow the U.S. government to sue the OPEC oil cartel on antitrust grounds in an outcry against crude oil prices that are fast approaching the $60 a barrel mark. The measure, added to wide-sweeping energy legislation by a voice vote, would give authority to the Department of Justice or Federal Trade Commission to sue the Organization of Petroleum Exporting Countries. U.S. crude oil futures hit a record $59.70 per barrel on Tuesday, even after OPEC boosted...