Mama Don’t Allow No Petroleum Cartels Around Here
I’m all for hawkish actions by the United States Congress, but this one seems a tad strange. From the Associated Press…
Decrying near-record high gasoline prices, the House voted Tuesday to allow the government to sue OPEC over oil production quotas.On the Judiciary Committee website, Congressman Conyers explains a few more of the details…
The White House objected, saying that might disrupt supplies and lead to even higher costs at the pump. The Organization of Petroleum Exporting Countries is the cartel that accounts for 40 percent of the world’s oil production.
“We don’t have to stand by and watch OPEC dictate the price of gas,” Judiciary Committee Chairman John Conyers, D-Mich., the bill’s chief sponsor, declared, reflecting the frustration lawmakers have felt over their inability to address people’s worries about high summer fuel costs.
The measure passed 345-72. A similar bill awaits action in the Senate.
My bill, the No Oil Producing and Exporting Cartels Act of 2007 (“NOPEC”), enables the Department of Justice to take legal action against the OPEC nations. It does this by (1) exempting OPEC and other nations from the provisions of the Foreign Sovereign Immunities Act when acting in a commercial capacity; (2) making clear that the so-called “Act of State” doctrine does not prevent courts from ruling on antitrust charges brought against foreign governments; and (3) authorizes the Department of Justice to bring lawsuits in U.S. courts against cartel members.Any legal experts out there want to take a stab at explaining exactly what remedies are available when you sue a foreign country in an American court for not producing enough oil?