House votes to allow OPEC suit

first_imgBut the White House said President George W. Bush will be advised to veto the bill should it pass Congress because such suits could spawn retaliatory measures and “lead to oil supply disruptions and an escalation in the price of gasoline, natural gas, home heating oil.” global oil production.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! WASHINGTON – Decrying near-record high gasoline prices, the House voted Tuesday to allow the government to sue OPEC over oil production quotas. The White House objected, saying that might disrupt supplies and lead to even higher costs at the pump. The Organization of Petroleum Exporting Countries is the cartel that accounts for 40 percent of the world’s oil production. “We don’t have to stand by and watch OPEC dictate the price of gas,” Judiciary Committee Chairman John Conyers, D-Mich., the bill’s chief sponsor, declared, reflecting the frustration lawmakers have felt over their inability to address people’s worries about high summer fuel costs. The measure passed 345-72. A similar bill awaits action in the Senate. Separately, at a House hearing, lawmakers were told that crude oil prices have played a relatively minor role in the sharp increase in gasoline costs over the last three months, putting the blame on lower gasoline imports, refinery outages and continuing growth in demand from motorists. Gasoline prices “may ease somewhat,” Guy Caruso, chief of the Energy Department’s statistical agency, told the House Energy and Commerce investigations subcommittee. But he said pressure on gas prices will remain strong “with the hurricane season approaching, continued tight refinery conditions, low gas inventories and increased demand for summer travel.” Nevertheless, the House felt it was important to take on OPEC, whose member states last year agreed to cut production by 1.1 million barrels a day to counter what had been a buildup of world oil stocks. Conyers accused the OPEC engaging in a “price fixing conspiracy” that has “unfairly driven up the price” of crude oil and, in turn gasoline. His measure would change antitrust laws so that the Justice Department can sue OPEC member countries for price-fixing, and would remove the immunity given a sovereign state against such lawsuits. last_img read more

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Robben I have a good relationship with Kovac

first_imgBayern Munich winger Arjen Robben was pleased to have eased some of the pressure off Niko Kovac following their 5-1 Champions League win over BenficaThe Dutchman handed Bayern a 2-0 lead inside the opening half hour before a Robert Lewandowski double and Franck Ribery’s strike sealed the win for Bayern.Speaking afterwards, Robben expressed his satisfaction with getting his first goals in Europe this season.“My goals were important for the team, but it’s nice to score goals,” Robben told the club website.“We wanted to stand up and turn in a good display, also for the crowd. Big teams do that.“They get up again. We did just that. We’re in a difficult phase. We put into practice what we’d planned, the pace was good, we were solid and compact and staged lots of attacks. ”RB Leipzig, Bayern Munich, Robert LewadowskiMatch Preview: RB Leipzig vs Bayern Munich Boro Tanchev – September 14, 2019 RB Leipzig will have the chance to prove their title-winning capabilities when they host Bayern Munich today at 18:30 (CET).Reports in Germany have named Robben as one of the four players unhappy with Kovac’s coaching methods.But the 34-year-old insists things are good between himself and Kovac.“Of course we’d have liked to keep a clean sheet, especially for Manuel [Neuer]. But a 5-1 victory is convincing,” added Robben.“It’s what we need. I was pleased for Niko. He’s deserved it. He works his butt off. We work together every day. We have a good relationship.”Bayern will next take a trip to Werder Breman for a Bundesliga match on Saturday.last_img read more

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