S.3214 - NOPEC115th Congress (2017-2018)
|Sponsor:||Sen. Grassley, Chuck [R-IA] (Introduced 07/16/2018)|
|Committees:||Senate - Judiciary|
|Latest Action:||Senate - 07/16/2018 Read twice and referred to the Committee on the Judiciary. (All Actions)|
This bill has the status Introduced
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Summary: S.3214 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in Senate (07/16/2018)
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.