Practically Speaking

Kyle and her husband moved to Brookfield in 1986. She became active in local politics and started blogging in 2004. Her focus is primarily on local issues but often includes state and national topics, too. Kyle looks at things from the taxpayers' perspective in a creative, yet down to earth way, addressing them from a practical point of view.

Congress Wants OPEC Sued, What About Counter Suit?

Energy, Legislation, THE ECONOMY, Unintended consequences

Question: Who is the number 1 oil producer? Number 2? Number 3?

Do we have the right to sue any of the top 3 for not producing more or setting prices? 

If you said yes, that would include suing the United States. We are the number 3 oil producer in the world*.

"Congress' latest answer to rising gasoline prices: Sue OPEC .(LA Times)"  -What about counter suit? What if OPEC sues the U.S. for not pumping all of the oil deposits in our own country? Isn't it ridiculous that we don't pump the oil off of our shores for environmental reasons, yet Mexico just to our south does?

What about an OPEC lash back? Do we really want to poke a stick in the eye of our major oil suppliers? (One of my nicknames is Cautious Kyle.) The President must think so too, "The White House warned that the measure could invite retaliatory action by the oil cartel, which supplies about 6 million barrels of crude to the United States every day."

Just imagine what our economy might look like if we were pumping from all of our own known deposits and kept our oil dollars home? Or on the darker side, just imagine what what our economy would look like if OPEC decides to sell elsewhere? From the L.A.Times:

Rep. Steve King (R-Iowa) scoffed at the measure, arguing it was "long on psychic compensation" but unlikely to bring down gas prices. He assailed Democrats for blocking efforts to increase domestic oil drilling, complaining that the bill "doesn't outlaw the congressional cartel that has blocked our energy production in this country."

"Even if this bill gets vetoed, which I believe it will, we're sending a message over to the OPEC countries that we want to litigate," King said, warning of possible reprisals.

OPEC could speed the flow of oil to the market, King said. "Or they might just decide, a little bit out of spite, to turn the spigot down a little bit to say, 'We'll show you.' "

Maybe we should sue Congress for blocking US drilling attempts? 


*Top 10 oil producers: Saudi Arabia, Russia, US (first 3 each produce almost 2X or more than the following), Iran, China, Mexico, Norway, Canada, Venezuela, United Arab Emirates.

Past Post: Can We Just Start Drilling Now? 


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