To cancel Federal oil and gas leases held by entities that manipulate the market price of oil or gas in violation of certain Federal law, and for other purposes.

Bill: 118-hr-9118
Sponsor: full_name: Rep. Barragán, Nanette Diaz [D-CA-44]
Introduced: 2024-07-24
Policy area: Energy
Latest action: action_date: 2024-07-24
text: Referred to the House Committee on Natural Resources.

Summaries:

tv_txt: I 118th CONGRESS 2d Session H. R. 9118 IN THE HOUSE OF REPRESENTATIVES July 24, 2024 Ms. Barragán (for herself, Mr. Grijalva , Ms. Tlaib , Ms. Norton , Mr. Carson , Ms. Titus , Ms. Ocasio-Cortez , Mr. Mullin , Ms. Lee of California , Ms. Omar , Mrs. Watson Coleman , and Mr. Huffman ) introduced the following bill; which was referred to the Committee on Natural Resources A BILL To cancel Federal oil and gas leases held by entities that manipulate the market price of oil or gas in violation of certain Federal law, and for other purposes.

1. Cancellation of oil and gas leases held by entities that manipulate the market price of oil or gas in violation of certain Federal law (a) Finding by the Federal Trade Commission If the Federal Trade Commission issues a final order that finds that a person that holds a Federal oil and gas lease coordinated with an OPEC country or an OPEC plus country to manipulate the market price of oil or gas in violation of section 1 of the Sherman Act ( 15 U.S.C. 1 ) or the Clayton Act ( 15 U.S.C. 12 et seq. )— (1) the Secretary of the Interior shall, to the extent allowable by law— (A) cancel each Federal oil and gas lease held by such person; and (B) not renew or extend any Federal oil and gas lease held by such person; and (2) such person may not bid on any Federal oil and gas lease beginning on the date on which the Federal Trade Commission issues such final order. (b) Definitions In this section: (1) Federal mineral leasing law The term Federal mineral leasing law means any Federal law administered by the Secretary of the Interior authorizing the disposition under lease of oil or gas. (2) Federal oil and gas lease The term Federal oil and gas lease means an oil and gas lease issued by the Secretary of the Interior under any of the Federal mineral leasing laws. (3) OPEC country The term OPEC country means Algeria, Congo, Equatorial Guinea, Gabon, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, United Arab Emirates, or Venezuela. (4) OPEC plus country The term OPEC plus country means Azerbaijan, Bahrain, Brunei, Kazakhstan, Malaysia, Mexico, Oman, Russia, South Sudan, or Sudan.