As members of the US House raced for the airport on Thursday, they took with them a mountain of talking points for a July 4th holiday break that mainly focuses on the runup in oil and gasoline prices. 

But once again, the Congressional debate didn't seem to matter one bit when it came to the actual price of oil and gasoline, as oil futures jumped again on Thursday, thanks to events that were nowhere close to the U.S. Capitol building.

One reason prices went over $140/barrel was because of a statement from the President of OPEC, who said he expected oil to reach $150 to $170 a barrel in coming months. 

One good note was he didn't see it going over $200 per barrel. 

Democrats had hoped to leave town with a flurry of significant oil price legislation under their belt, with which they could send a message to the oil markets that it was time for prices to come down.

Instead, Congress showed just how powerless it really is when it comes to influencing oil prices in the short term.

Still, Democrats gave it the ole college try, as they brought two bills before the House, one on public transport, the other the so called "use it or lose it" bill, which would punish oil companies that don't utilize drilling leases already in the hands of Big Oil.

Republicans mocked the plan, saying it was already federal law that oil companies would lose drilling leases if they didn't use them.

"We're bringing band-aids to the floor rather than dealing with the real problem," protested Republicans like Rep. Roy Blount (R-MO) who wanted to be voting on bills that open more areas to oil and gas exploration.

Over at the White House, President Bush was also signaling his political displeasure, sounding more like a parent scolding a wayward child.

"One way to relieve the price of gasoline is to expand domestic production of crude oil here at home," said Mr. Bush.

"The Congress failed to act on this measure, and they got to, when they come back," said the President, who wants more areas offshore, in Alaska and out West opened to energy production.

Let's see where gas prices are when lawmakers return the week of July 7.  Some will be jumping up and down, having been ripped by voters back home.

Time for a vacation.