Wednesday 21, May 2008 by Mike Gallagher

High oil prices cause threat of legal action in the US

With oil passing the $130 a barrel mark for the first time on Wednesday, a group of US politicians have passed a resolution calling for legal action to be taken against OPEC members by the US justice department. President Bush had threatened to veto the bill, but in the end it passed by 324 to 84 in favour, which was more than enough to see off any possibility of a presidential veto.

Features & Analyses

Consumer Banking Preserving excellence

Speaking exclusively to Nabilah Annuar, Editor, Banker Middle East, Mubarak Abdullah Al-Khafrah, Chairman of Alawwal Bank discusses… read more