Congress takes step towards Opec legal challenge
Suzy Jagger, The Times, 21 May 2008Washington overcame a significant obstacle yesterday in its attempt to sue Opec for behaving as an oil cartel and keeping the price of fuel artificially high.
The House of Representatives overwhelmingly approved legislation to bring a lawsuit against Opec members because they have collectively set the price of oil and limited oil supplies.
The price of oil is at an all-time high of about $129 a barrel and has been in part responsible for surging inflation in the United States, Britain and across Europe.
President Bush is opposed to the legislation because he believes that it will trigger retaliatory measures by Opec member countries such as Saudi Arabia against American business interests. ... Read full article
