Summary: S.977 — 117th Congress (2021-2022)All Information (Except Text)

There is one summary for S.977. Bill summaries are authored by CRS.

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Introduced in Senate (03/25/2021)

No Oil Producing and Exporting Cartels Act of 2021 or NOPEC

This bill prohibits a foreign state from engaging in collective action impacting the market, supply, price, or distribution of oil, natural gas, or any 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.

Specified defenses such as 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.