Justice Dept. vs. OPEC

[Barchetta]

Now the

If you think fuel was expensive now, just wait until the Justice Department gets involved in this. They are going to sue OPEC over the price of fuel.

House passes bill to sue OPEC over oil prices | Reuters

What do you all think of this?

[drstephennix]

I say take them for all their worth! They have been doing it to us for years! What? Is the White House scared of what they may do if we sue them??!?!?!? Thats like saying,"I dont wanna discipline my child because he/she may not like me afterwards" WTF?!?!?!?! Step up and let them know we are the BIGGEST, BADDEST dog on the porch and we aint gonna be F****D with!! Come and get some if you think your bad enough! We got our own dang oil anyways!

[REDPOWERSMOKER]

Originally Posted by drstephennix

I say take them for all their worth! They have been doing it to us for years! What? Is the White House scared of what they may do if we sue them??!?!?!? Thats like saying,"I dont wanna discipline my child because he/she may not like me afterwards" WTF?!?!?!?! Step up and let them know we are the BIGGEST, BADDEST dog on the porch and we aint gonna be F****D with!! Come and get some if you think your bad enough! We got our own dang oil anyways!

DANG SKIPPY

[TwinTurboStroker]

Easier said than done.....America won't tap into our oil unless it has to.....we want to use everyone else's oil first......but it's either going to be one extreme or the other, meaning really bad or really good.....only time will tell

[drstephennix]

Originally Posted by TwinTurboStroker

Easier said than done.....America won't tap into our oil unless it has to.....we want to use everyone else's oil first......but it's either going to be one extreme or the other, meaning really bad or really good.....only time will tell

We need to be using ours just to bolster the American economy if nothing else. The more work we keep at home and pay Americans to do, the better the economy in my opinion.

[dercody]

I agree that we should sue OPEC, those cheating Rat B@$&@**$, but our government can't seem to find their a@@ with both hands unless there is money in it for them personally, so we'll see, maybe the threat of a horrendous lawsuit will scare them into lower prices. Maybe a business lean so they can't spend any money or receive any money might help. If the putz's are reading this take note

[drstephennix]

We should stop selling them arms and see how that affects them. "Oh! So Sorry! No technology for you!"

[dercody]

or just stop giving them money for other stuff.

[WHAT HAPPENED]

Source: Revisited - The Real Reasons for the Upcoming War in Iraq: A Macroeconomic and Geostrategic Analysis of the Unspoken Truth, by William Clark, updated: Jan 2004

1. Nations continue to demand and purchase oil for their energy/survival needs
2. The world's monopoly currency for global oil transactions remains the US dollar
3. The three internationally traded crude oil markers remain denominated in US dollars

One more source: http://members.tripod.com/rationalre..._iraq_euro.htm

Because crude oil contracts are currently traded in dollars, and the prices of OPEC crudes are determined by using complex formulas derived from marker crudes, such as Brent and WTI, there is not much the Organization can do unilaterally until, and unless, there is a switch of denomination in these markets. OPEC has no control over the quotations of these marker crudes, whereas, in the past the Organization did set the official selling prices. That has all changed with the introduction of market-related prices which saw the system change from a seller’s to a buyer’s market, or at least where market forces now dictate prices. Moreover, the entire infrastructure of the oil market has been based around the dollar, and that will be hard to displace. However, as previously mentioned, a lot depends on Britain and Norway in determining what their level of EU integration will be, and whether their marker crude, Brent, could be traded in euros.”


When the US Dollar goes DOWN the price of OIL GOES UP. We trade in the US Dollars and right now the US Dollar is very weak. This is called inflation (The FED makes interest rates go down), also known as printing more money, and the more money that is circulating the less value it has

[drstephennix]

I dont mind paying reasonable amounts of money for services or products rendered, but if you wanna gauge the price and dont even wanna reach around....THAT I have a problem with and I'll just come TAKE what i want instead of paying exhorbatant amounts for something.