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Text of the No Oil Producing and Exporting Cartels Act of 2007

This bill was introduced in a previous session of Congress and was passed by the House on May 22, 2007 but was never passed by the Senate. The text of the bill below is as of May 23, 2007 (Placed on Calendar in the Senate).

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Source: GPO

II

Calendar No. 169

110th CONGRESS

1st Session

H. R. 2264

IN THE SENATE OF THE UNITED STATES

May 23, 2007

Received; read twice and placed on the calendar

AN ACT

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 2007 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.
(a)

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)

A foreign state engaged in conduct in violation of subsection (a) shall not be immune under the doctrine of sovereign immunity from the jurisdiction or judgments of the courts of the United States in any action brought to enforce this section.

(c)

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.

(d)

The Attorney General of the United States may bring an action to enforce this section in any district court of the United States as provided under the antitrust laws.

.

3.

Sovereign immunity

Section 1605(a) of title 28, United States Code, is amended—

(1)

in paragraph (6), by striking or after the semicolon;

(2)

in paragraph (7), by striking the period and inserting ; or; and

(3)

by adding at the end the following:

(8)

in which the action is brought under section 7A of the Sherman Act.

.

Passed the House of Representatives May 22, 2007.

Lorraine C. Miller,

Clerk.

May 23, 2007

Received; read twice and placed on the calendar