Or perhaps a ‘stupidity’ of congressmen? A ‘fantasy’ of lawmakers? An ‘arrogance’ of representatives? They all seem to fit.
The House of Representatives overwhelmingly approved legislation on Tuesday allowing the Justice Department to sue OPEC members for limiting oil supplies and working together to set crude prices, but the White House threatened to veto the measure. The bill would subject OPEC oil producers, including Saudi Arabia, Iran and Venezuela, to the same antitrust laws that U.S. companies must follow.
The measure passed in a 324-84 vote, a big enough margin to override a presidential veto.
The US House of Representatives have just in effect declared that all foreign governments and businesses must be subject to the wishes of US politicians and their regulations and sell oil at prices that US legislators like. Or else. The sheer absurdity of this is breathtaking. Exactly what sanction were they planning against OPEC? Perhaps not buying their fungible oil? Yeah, that will do the trick.