Peter DeFazio Nails Republicans On Oil

[chat_noir]

Rep. Peter DeFazio (D-OR04) railed against the Republican special interests that prevent any real progress from being made on getting control over skyrocketing fuel prices and huge profits being realized by oil companies while consumers struggle with high fuel costs.

Now, there’s a few things we could do. Now, the president’s a big free trader, right? He’s trying to push us into more free trade agreements. They say they work great. He wants “rules-based trade.” Well, we’re in the WTO, they have rules. The rules say you can not restrict the supply of a commodity simply to drive up the price. That’s what OPEC’s doing. Now five members of OPEC are in the WTO. Will this president – the oil man –- the friend of the Saudis and the others – will he file a complaint in the World Trade Organization against OPEC? No. I wrote to him three years ago, asking him to do that. The answer was no. If the Saudis and the OPEC countries want to get together and collude to drive up the price of the oil, that’s just fine with George Bush. He’s all for free trade, and rules-based trade, except when the rules might hurt some of his buddies. And then, the oil industry just piggy backs on top of that.

http://www.crooksandliars.com/2008/04/23/peter-defazio-nails-republicans-on-oil/


RATE IT UP ON YOUTUBE: http://www.youtube.com/watch?v=WKP8HhkCzMw

[Karl_Bonner_1982]

1. One of a number of free trade hypocrisys

Economists can give you a hundred more if we have the time and the notes.