Price Of Gas Getting You Down This Long Weekend?

Have no fear.  Congress is on the case with a new law that makes it illegal to : 

… limit the production or distribution of oil, natural gas, or any other petroleum product…or to otherwise take any action in restraint of trade for oil, natural gas, or any petroleum product when such action, combination, or collective action has a direct, substantial, and reasonably foreseeable effect on the market, supply, price... in the United States.

See. Wasn't that easy. We can expect, any day now, to see a lawsuit filed against OPEC. 

Comments

[Ethan]

"self impugnation".

[Bruce P. Shields]

Congressional arrogance is matched by historical cluelessness. This provision is set up at almost precisely the moment where growing demand for oil throughout the world may make it possible for OPEC to continue selling oil even without the US market. Democrats have enjoyed bashing the "Bush Doctrine" as diplomatic unilateralism. Apparently the sponsors of H.6074 actually believe Sen. Sanders's rant about America being the most powerful nation on earth. However, a key retaliation against the US by OPEC would be to cease accepting US $ in settlement of trades. The last time a retaliation of that kind operated against the US, the collapse of our currency led to Shays's rebellion. Political eagerness to pander to a tiny segment of the opinionated classes apparently creates economic amnesia.

[Lazarus Long]

I can see our AG leading the charge now, just like Gen Pickett.