Thursday, May 22, 2008

That'll Show Em!

The House passed a bill on Tuesday authorizing the Justice Department to sue member countries of the OPEC cartel under U.S. anti-trust laws.  Any judgment won in such a suit could only be enforced, as a practical matter, against assets held by those nations in the U.S., meaning that the only effect of the legislation would be to discourage foreign investment by those nations in the U.S.

Meanwhile on Wednesday the members of the Senate Judiciary Committee engaged in some more pointless grandstanding about oil company profits.

No comments: