H.R.5904 - NOPEC115th Congress (2017-2018)
|Sponsor:||Rep. Chabot, Steve [R-OH-1] (Introduced 05/22/2018)|
|Committees:||House - Judiciary|
|Latest Action:||House - 06/13/2018 Ordered to be Reported (Amended) by Voice Vote. (All Actions)|
This bill has the status Introduced
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Summary: H.R.5904 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in House (05/22/2018)
No Oil Producing and Exporting Cartels Act of 2018 or NOPEC
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:
- collective action that limits the production or distribution of such product,
- collective action to set or maintain the price of such product, or
- any other action that restrains trade of such product.
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.