On Tuesday, the House of Representatives approved legislation that would allow the Justice Department to sue OPEC members for limiting oil supplies and working together to set crude prices.

Yes, they really did that.

Trying to sue OPEC for limiting oil supplies and setting crude prices is like a junkie trying to sue his dealer for not giving him enough heroin at a price HE thinks is reasonable.

If you ever needed any evidence that most of our elected officials have absolutely NO clue as to what's really going on here, this is it.

Of course, you and I both know that this is probably more of a dog and pony show than anything else. After all, their first priority really is sedating the voters with fairy dust legislation.

Then on Wednesday we had another "let's blame the oil execs for high prices" puppet show.

Senator Durbin asked the heads of Exxon Mobil, ConocoPhillips, Shell, Chevron and BP if it troubled them when they saw what they were doing to us. I'd like to ask the senator what it is exactly that the oil companies are doing, other than feeding our addiction.

Then again, it has been with great success that Big Oil has lobbied their accusers to keep this addiction strong. But those guys on the Hill don't have to get their pockets lined with oil money. They just choose to do so. And now they have the audacity to pin the blame on the very hand that feeds them.

Suing OPEC for High Oil Prices: But Wait, It Gets Better!

During the hearing, Senator Arlen Specter decided to ask Exxon Mobil why the company's annual earnings increased from $11.5 billion to $40.6 billion over five years.

I don't know about you, but I think I'd be little pissed off if some bureaucrat decided to question me on how I make my money. If they really believed something unethical was going on here, wouldn't you think they'd already have some kind of legitimate and quiet investigation going on? Well, assuming ethics was a priority...which it clearly isn't. Otherwise we wouldn't be having this conversation right now.

That joke isn't funny anymore

This crisis grows bigger and bigger by the hour, and we need a solution yesterday.

And I'm not talking about some ridiculous band-aid publicity stunt either—like the recent bill that was just signed to restrict oil shipments to the strategic petroleum reserve.

Deliveries into the reserve have now been suspended for the rest of the year. That's a whopping 70,000 barrels per day. We consume about 21 million barrels per day.

What a joke!

What should really be putting a burn in our bellies is that some members of Congress are now pushing to release oil from the emergency stockpile.

Rep. Edward Markey from Massachusetts said he didn't understand why the President wasn't releasing oil from the reserve to force down prices.

Hmmm. I don't know. Maybe it's because those reserves are there in case we need to respond to a future supply emergency? They're not there so guys like him can cozy up to voters by temporarily influencing prices!

So let's look at where we are now...

We can supposedly sue OPEC. Suing them should either make them laugh or make them angry. Either way, not a very smart move on our part. Especially since we're no longer backing up our reserves.

But that's alright, because in Washington they're showing the voters how upset they are with the oil companies by making them explain their profits.

Though I should note that Committee Chairman Patrick Leahy did bring up a good point. He said:

"Prices should not skyrocket like this in a properly functioning, competitive market."

And that's the key - a properly functioning, competitive market.

While Big Oil has been getting kick backs since day one (and for those of you who questioned me on this a couple of weeks ago, I urge you to take a look at this article which outlines the very proof you requested.), Congress and the President squabble over a few million dollars worth of tax breaks for Plug-In Hybrid Electric Vehicles (PHEVs.)

Perhaps you've read about the PHEVs in these pages before. These are the vehicles that could allow nearly every U.S. commuter to drive to and from work every day without using a single drop of gas.

Seems to me that this makes more sense than threatening OPEC with lawsuits.

What's next? Judge Judy will be appointed to conduct the legal proceedings?

My friends, as this energy crisis continues to threaten our entire way of life, I do hope you are maintaining a strong, long-term position in renewables. Because at the end of the day, nothing can change the fact that our reliance upon finite, non-renewable resources is quickly coming to an end.

And this isn't just because we're bullish on renewable energy. It's because there is simply no other choice in the matter.

We're backed into a corner, and no amount of political maneuvering or quick fixes can change that.

The time for debate is over.

The time for action is now!

To a new way of life, and a new generation of wealth...

Jeff