Definition: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Input: SECTION 1. SHORT TITLE.

This Act may be cited as the ''International Energy Fair Pricing
Act of 2000''.

SEC. 2. FINDINGS.

The Congress finds the following:
(1) The Organization of Petroleum Exporting Countries
(OPEC), in its capacity as an oil cartel, has been a critical
factor in withholding production from the market and driving up
oil prices approximately 300 percent from January 1999 to June
2000.
(2) Nationwide, gasoline prices have increased
approximately 60 cents a gallon since the beginning of 1999
with crude oil prices increasing 48 cents over this same time
period.
(3) The Department of Energy's weekly survey showed the
average cost of gasoline in the United States increased 5 cents
a gallon to $1.68 from the second to the third week of June
2000, a record high for a fourth week in a row.
(4) Price declines in the cost of oil in April 2000,
following the March 2000 OPEC meetings, have been reversed
because OPEC output did not meet global demand and supply
conditions. When OPEC members met in March 2000, quotas were
not set high enough for refiners around the world to rebuild
crude stocks depleted by winter heating demand.
(5) Crude oil stocks in the United States are only
31,000,000 barrels above the lowest operational inventories
ever observed in recent times (the equivalent of 2 days of
refinery operations) and 20,000,000 barrels under the normal
range for the month of June.
(6) The United States needs to make a systematic review of
its bilateral and multilateral policies and those of all
international organizations and international financial
institutions to ensure that these policies are not directly or
indirectly supporting the oil price fixing activities,
policies, and programs of OPEC.

SEC. 3. POLICY OF THE UNITED STATES.

(a) Policy With Respect to International Organizations.--It shall
be the policy of the United States that the extent to which each
international organization supports, or otherwise recognizes, OPEC will
be an important determinant in the relationship between the United
States and this organization.
(b) Policy With Respect to International Financial Institutions.--
It shall be the policy of the United States that the extent to which
each international financial institution supports or otherwise
recognizes OPEC, will be an important determinant in the relationship
between the United States and the institution.
(c) Policy With Respect to the Energy and Development Activities.--
The United States should carefully review all the energy development
projects and programs administered by the United States Agency for
International Development in developing countries to ensure that these
projects and programs do not indirectly or inadvertently support the
activities of OPEC.

SEC. 4. POLICY TOWARD THE INTERNATIONAL FINANCIAL INSTITUTIONS.

(a) Report to the Congress on Activities of the International
Financial Institutions.--No later than 90 days after the date of the
enactment of this Act, the President shall transmit to the Congress a
report that contains the following:
(1) A description of any loan, guarantee, or technical
assistance provided or to be provided by any international
financial institution that does or would directly or indirectly
support any activity or program of OPEC or any other cartel, or
any member of OPEC or any other cartel, engaging in production
cutbacks or other market-distorting practices.
(2) A description of the energy sector loans of, technical
assistance provided by, and policies of each international
financial institution, and an analysis of the extent to which
the loans, assistance, or policies promote the complete dismantlement
of international oil price fixing arrangements and the development of a
market-based system for the exploration, production, and marketing of
petroleum resources.
(b) United States Position in International Financial
Institutions.--The United States Executive Directors at each
international financial institution shall use the voice, vote, and
influence of the United States to oppose the provision of any loan,
guarantee, or technical assistance by the institution that would
directly or indirectly support the activities and programs of OPEC or
any other cartel, or any member of OPEC or any other cartel, engaging
in production cutbacks or other market-distorting practices.

SEC. 5. REPORT RELATING TO THE ORGANIZATION FOR ECONOMIC COOPERATION
AND DEVELOPMENT (OECD).

Not later than 90 days after the date of the enactment of this Act,
the President shall prepare and transmit to Congress a report that--
(1) describes the efforts of the Organization for Economic
Cooperation and Development (OECD) to review the market-
distorting practices of international cartels, including OPEC,
and recommends specific actions that the member countries of
the OECD can undertake to combat such practices; and
(2) describes actions to be taken by the United States to
ensure that the OECD expands upon its activities and programs
regarding the operation of international cartels.

SEC. 6. AMENDMENT TO THE FOREIGN ASSISTANCE ACT OF 1961.

Section 106 of the Foreign Assistance Act of 1961 (22 U.S.C. 2151d)
is amended by adding at the end the following:
''(g)(1) In carrying out the activities under this chapter, the
President shall--
''(A) ensure that amounts made available to carry out this
chapter are not used to support, directly or indirectly, the
programs, activities, and policies of the Organization of
Petroleum Exporting Countries (OPEC), or any other cartel, or
any member of OPEC or any other cartel, if OPEC or such other
cartel engages in oil price fixing; and
''(B) certify annually to the appropriate congressional
committees that the requirement of subparagraph (A) has been
met for the prior fiscal year.
''(2) In this subsection--
''(A) the term 'appropriate congressional committees'
means--
''(i) the Committee on International Relations and
the Committee on Banking and Financial Services of the
House of Representatives; and
''(ii) the Committee on Foreign Relations and the
Committee on Banking, Housing, and Urban Affairs of the
Senate; and
''(B) the term 'oil price fixing' has the meaning given
such term in section 7(2) of the International Energy Fair
Pricing Act of 2000.''.

SEC. 7. DEFINITIONS.

In this Act:
(1) International financial institution.--The term
''international financial institution'' has the meaning given
in section 1701(c)(2) of the International Financial
Institutions Act.
(2) Oil price fixing.--The term ''oil price fixing'' means
participation in any agreement, arrangement, or understanding
with other counties that are oil exporters to increase the
price of oil or natural gas by means of, inter alia, limiting
oil or gas production or establishing minimum prices for oil or
gas.
(3) OPEC.--The term ''OPEC'' means the Organization of
Petroleum Exporting Countries.
(4) Petroleum resources.--The term ''petroleum resources''
includes petroleum and natural gas resources.
Output:
Directs the President to report to Congress with respect to: (1) any loan, guarantee, or technical assistance provided by any international financial institution that directly or indirectly supports any OPEC program or country, or any other cartel, engaging in production cutbacks or other market-distorting practices; (2) energy sector loans of, technical assistance provided by, and policies of each international financial institution, including an analysis of the extent to which they promote the complete dismantlement of international oil price fixing arrangements and the development of a market-based system for the exploration, production, and marketing of petroleum resources; (3) Organization for Economic Cooperation and Development (OECD) efforts to review market-distorting practices of international cartels, including OPEC, and specific actions that OECD member countries can undertake to combat such practices; and (4) U.S. actions to ensure that the OECD expands upon its activities and programs regarding the operation of international cartels.
Amends the Foreign Assistance Act of 1961 to direct the President, in providing assistance for the development of indigenous energy resources in developing non-OPEC countries, to ensure that such assistance is not used to support, directly or indirectly, OPEC programs or countries, or any other cartel, if OPEC or such cartel engages in oil price fixing.