"NOPEC" FOR OPEC
"Congress Should Pass NOPEC Protections Immediately" says John W. Rich, Jr.
For Immediate Release
February 17, 2009
Contact: John W. Rich, Jr. 570-874-1602
Gilberton, PA - February 17, 2009: With Congress's passage of an economic stimulus package totaling more than $780 billion, it should also take measures to protect against OPEC's manipulation of the price of oil, says John W. Rich, Jr.
"It should go hand in hand, stimulating the economy and establishing safeguards to protect us from OPEC's manipulating the price of oil to squeeze more money out of the American consumer's pocket," says John W. Rich, Jr. "By cutting production OPEC can force us to spend more on oil imports turning our stimulus dollars into a direct export to their bank accounts. We need to take action to prevent OPEC from siphoning off our stimulus dollars."
Rich believes that Congress should pass the "No Oil Exporting and Producing Cartels Act (NOPEC), introduced last month by Senator Arlen Specter of Pennsylvania and Herb Kohl of Wisconsin. NOPEC is also supported by Pennsylvania Representative Tim Holden and Senator Bob Casey Jr. NOPEC would stipulate that OPEC's price and production manipulation is commercial activity subject to US anti-trust laws. NOPEC also clarifies that OPEC members are subject to the jurisdiction of U.S. Courts.
"We need to pass NOPEC because we need to fight back against OPEC. What they do has the potential to siphons away from our economy billions of dollars every year and gut the intent of the stimulus package by forcing us to pay more for imported oil," said Rich. "Congress should act swiftly, before a large portion of this $780+ billion dollar bill ends up in OPEC's hands. We need to develop domestic alternative sources of liquid fuel, like waste coal and biomass to liquid transportation fuel so as to end our over-reliance on foreign oil."
John W. Rich, Jr. has been a leader in the energy sector for decades and he is the CEO of WMPI PTY, LLC in Gilberton, PA. For over a decade his company has been leading the drive to build a waste coal to liquid transportation fuels industry in the United States. Rich is proposing utilizing new technology for the gasification of existing waste coal intermingled with traditional biomass feedstock to produce an abundant supply of domestic liquid transportation fuels that will displace the foreign oil we are importing.