With oil prices already hitting $60 a barrel, the U.S.
Senate is finally doing something about the problem. Or, at least giving the
appearance of doing something.
On June 21, the Senate tacked an amendment onto the Energy
Bill that would give the U.S. government the ability to sue the Organization of
Petroleum Exporting Countries on anti-trust grounds.
More specifically, the measure would give that ability to
the Department of Justice or the Federal Trade Commission.
Reuters reported that the measure faces stiff
opposition and is unlikely to make it into the final version of the Energy
Sen. Pete Domenici, R-NM, spoke out against the measure, but
did not attempt to stop it from passing.
“These are sovereign nations,” he said. “For us to decide
here on the Senate floor that we’re going to establish some new forum and
litigation against the OPEC cartel is nothing short of incredible.”