U.S. senators unveil plan to rein in big oil, OPEC
WASHINGTON, April 6 (Reuters) - Six U.S. senators on Thursday backed legislation that could spur more federal scrutiny of future mergers between oil companies, and trigger a possible price-fixing lawsuit against the OPEC oil cartel.
April 6, 2006
by Chris Baltimore
Meanwhile, 52 Democratic lawmakers asked the White House to hold a bipartisan "energy summit" to talk about securing future U.S. energy supplies as U.S. oil prices neared $70 a barrel and gasoline pump prices march closer to $3 a gallon in advance of the busy summer driving season.
The White House declined to accept to the invitation and said Democrats should support President George W. Bush's plan to cut crude oil use through alternative fuels like ethanol.
The Senate bill, sponsored by Senate Judiciary Committee Chairman Arlen Specter and Wisconsin Democrat Herb Kohl, would encourage greater scrutiny by the U.S.... [continue via Web link]