Senators jab OPEC over high oil prices

WASHINGTON: Eleven senators called on the Bush administration Tuesday to file a complaint with the World Trade Organization against eight members of the OPEC cartel, saying they are violating trade rules by colluding to hold down global oil supplies.

The senators, ten Democrats and one independent, maintained “the very existence of OPEC” violates the GATT trade agreement that prohibits nations from setting quotas or imposing other restrictions on exports.

“The refusal of OPEC nations who are members of the WTO to play by these rules is inexcusable, and they must be held accountable,” said the senators in a letter to U.S. Trade Representative Susan Schwab.

The group, led by Sen. Frank Lautenberg, D-N.J., said the White House should direct Schwab to file a complaint with the WTO against the oil producers.

AP