Friday, May 25, 2007

Opec being sued?

Decrying near-record high gasoline prices, the House voted Tuesday to allow the government to sue OPEC over oil production quotas.

Gasoline prices "may ease somewhat," Guy Caruso, chief of the Energy Department's statistical agency, told the House Energy and Commerce investigations subcommittee. But he said pressure on gas prices will remain strong "with the hurricane season approaching, continued tight refinery conditions, low gas inventories and increased demand for summer travel."

Nevertheless, the House felt it was important to take on OPEC, the major player in oil production. Member states of OPEC late last year cut production by 1.1 million barrels a day to counter what had been a buildup of world oil stocks.

Conyers accused the OPEC engaging in a "price fixing conspiracy" that has "unfairly driven up the price" of crude oil and, in turn gasoline.

Ok lets be very honest here. NONE of us like high oil prices. Going to the pump reminds me of the following:

But we need to realize that SUING OPEC isn't going to TRULY solve anything. What are you going to sue them for? To give you more oil? Come on now! There is a certain level of arrogance in the United States that we somehow can impose our will on any nation or any corporation or organization we want. Its a false sentiment. And one that tends to sometimes backfire.

What something like this may do is piss them off even further and they cut production some more. The reality is that until we have an alternative there is JACK that Governors, Senators, Congressmen or the President can do about the Oil Prices. OPEC can set the prices to whatever the hell they want and the reality is that we HAVE to pay for it.

Capitalism works really easily in that if you give an alternative than the price of both will compete against each other in a race to the bottom or happy medium for consumers not only in the US but Globally.

Our friends in the UK are REALLY feeling it at the pump paying upwards of 6 dollars a gallon!

To think that suing OPEC will actually force them to lower prices is laughable. What we need to do instead of wasting needless energy on that is develop something AWAY from oil. Not Ethanol either. I don't think that is a viable solution either. Then you are subject to a CORN CARTEL instead of an oil cartel.

We need to move into HYDROGEN FUEL CELLS!
That is where the energy focus should be. Not batteries or electric cars that need to be charged every 80 miles. Fuel Cells that can be pumped LIKE gas into your car. It may be a slow change especially to convert everyone and gas stations to this new energy source but it has to be a necessary step.

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