And Now the News with Kandy Korrespondent.

As the average price of gas rose to $3.80 nationally, Congress made further attempts to placate their angry constituents. Also on Tuesday, the House of Representatives approved legislation that will allow the Department of Justice to sue the Organization of the Petroleum Exporting Countries (OPEC) for conspiring to restrict supplies and/or drive up prices. It goes without saying that such legislation is mainly symbolic. Even if the DOJ were to sue OPEC, there would be no way to enforce any ruling upon the countries.

On Wednesday, with oil at a record-breaking $134/barrel, congress summoned oil executives to the Hill and demanded answers.

The executives responded that they were doing all they could to aid renewable energy and help the country through the current crisis.

It should be noted that, ConocoPillips executive John Lowe received cash compensation of $5.7 million in 2007. Peter Robertson of Chevron received $14.2 million. Exxon Mobil exec Stephen Simon received $12.5 million. Yet, as Robertson stated, “I’m a regular person.” Read More »