House Passes Bill Allowing OPEC Suit
President Bush Signs SPR Legislation Into Law
The House overwhelmingly approved legislation that would allow Justice to sue OPEC members for limiting oil supplies and setting prices, but the White House threatened a veto, Reuters reported.
The bill, passed by a 324-84 vote — enough to override a veto — would subject OPEC oil producers to the same antitrust laws that U.S. companies must follow, Reuters said.
Meanwhile, President Bush signed legislation Monday to stop shipments to the U.S. Strategic Petroleum Reserve, the White House said in a statement.
That followed overwhelming votes by both houses of Congress last week to stop the shipments of more than 70,000 barrels per day of to the SPR.
