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
To amend the Sherman Act to make oil-producing and exporting cartels illegal.
This Act may be cited as the
No Oil Producing and Exporting Cartels Act of 2018 or
The Sherman Act (15 U.S.C. 1 et seq.) is amended by adding after section 7 the following:
Oil producing cartels
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—
to limit the production or distribution of oil, natural gas, or any other petroleum product;
to set or maintain the price of oil, natural gas, or any petroleum product; or
to otherwise take any action in restraint of trade for oil, natural gas, or any petroleum product;
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.
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.
No sovereign immunity in oil cartel cases
Section 1605(a) of title 28, United States Code, is amended—
in paragraph (5) by striking
or after the semicolon;
in paragraph (6) by striking the period and inserting
; or; and
by adding at the end the following:
in which the action is brought under section 7A of the Sherman Act.