House passes bill to sue OPEC over oil prices

[DriftWood]

In the case of oil, we did just that in the 1970's.

The second "gas crisis" was caused by price fixing.

Government set artificial "price caps", when the price exceeded those caps, no one was willing to sell oil at a loss (of course).

Result: no gas at any price.

Yeah, it kind of amounts to the same thing. The govt might be able to domestically force someone to sell below market price for a while, but in the end the govt cant force someone to sell at a loss (because as you say the supply will run out when selling below market price)

Cheers