NOPEC

Bill: 115-s-3214
Sponsor: full_name: Sen. Grassley, Chuck [R-IA]
Introduced: 2018-07-16
Policy area: Foreign Trade and International Finance
Subjects: Competition and antitrust

Energy prices

Energy storage, supplies, demand

Government liability

Jurisdiction and venue

Oil and gas

Sovereignty, recognition, national governance and status
Latest action: action_date: 2018-07-16
text: Read twice and referred to the Committee on the Judiciary.

Summaries:
action_date: 2018-07-16
action_desc: Introduced in Senate
text: <p><b>No Oil Producing and Exporting Cartels Act of 2018 or NOPEC </b></p> <p>This bill amends the Sherman Act to prohibit a foreign state from engaging in collective action impacting the market, supply, price or distribution of oil, natural gas, or other petroleum product in the U.S. Specifically, a foreign state is prohibited from:</p> <ul> <li>collective action that limits the production or distribution of such product, </li> <li>collective action to set or maintain the price of such product, or </li> <li>any other action that restrains trade of such product. </li> </ul> <p>Sovereign immunity (i.e., a foreign state's immunity from the jurisdiction of U.S. courts) and the act of state doctrine (i.e., the prohibition of a court invalidating an official act of a foreign sovereign performed within its own territory) shall not apply to a foreign state's violation of this bill. </p>

tv_txt: II 115th CONGRESS 2d Session S. 3214 IN THE SENATE OF THE UNITED STATES July 16, 2018 Mr. Grassley (for himself, Ms. Klobuchar , Mr. Lee , and Mr. Leahy ) introduced the following bill; which was read twice and referred to the Committee on the Judiciary A BILL To amend the Sherman Act to make oil-producing and exporting cartels illegal.

1. Short title This Act may be cited as the No Oil Producing and Exporting Cartels Act of 2018 or NOPEC . 2. Sherman act The Sherman Act ( 15 U.S.C. 1 et seq.) is amended by adding after section 7 the following: 7A. Oil producing cartels (a) In general It shall be illegal and a violation of this Act for any foreign state, or any instrumentality or agent of any foreign state, to act collectively or in combination with any other foreign state, any instrumentality or agent of any other foreign state, or any other person, whether by cartel or any other association or form of cooperation or joint action— (1) to limit the production or distribution of oil, natural gas, or any other petroleum product; (2) to set or maintain the price of oil, natural gas, or any petroleum product; or (3) to otherwise take any action in restraint of trade for oil, natural gas, or any petroleum product; when such action, combination, or collective action has a direct, substantial, and reasonably foreseeable effect on the market, supply, price, or distribution of oil, natural gas, or other petroleum product in the United States. (b) Inapplicability of act of state doctrine No court of the United States shall decline, based on the act of state doctrine, to make a determination on the merits in an action brought under this section. (c) Enforcement The Attorney General of the United States shall have the sole authority to bring an action to enforce this section. Any such action shall be brought in any district court of the United States as provided under the antitrust laws. . 3. No sovereign immunity in oil cartel cases Section 1605(a) of title 28, United States Code, is amended— (1) in paragraph (5) by striking or after the semicolon; (2) in paragraph (6) by striking the period and inserting ; or ; and (3) by adding at the end the following: (7) in which the action is brought under section 7A of the Sherman Act. .