A Practical Suggestion for President Bush and Congress
Several days ago, the media lampooned President Bush for being "snubbed" by the Saudi's for refusing his request to significantly increase oil production. Bush's request was part of his plan to to ameliorate the problem of seriously rising oil prices. I wasn't there but I imagine that his plea was met with an admonition to "go pound sand".
Today, it was announced that the House of Representatives passed a bill allowing the U.S. to sue OPEC for their antitrust activity in arbitrarily limiting oil production. I may be wrong on this but I kind of doubt that the idea of being sued in an American federal court has the OPEC nations shaking in their boots right now.
So to these two Solomonesque solutions, I've decided to add one of my own: Let's have a bipartisan committee from Congress travel, along with the president, to India and China and ask them to stop buying so much oil. Most economists believe that their dramatically increased consumption (due to rising industrialization) is a principle reason for our current high prices at the pump.
Who could doubt that these two countries would willingly curtail their own drive for progress so that we Yanks can shave off a buck or two a gallon here in the states?
See? This policy stuff isn't so hard.