Summary: H.R.4574 — 96th Congress (1979-1980)All Information (Except Text)

There is one summary for H.R.4574. Bill summaries are authored by CRS.

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Introduced in House (06/21/1979)

Expresses the congressional intention that the President initiate negotiations with other oil importing nations to establish a Council of Oil Importing Nations to negotiate for reasonable oil prices with the Organization of Petroleum Exporting Countries. Directs the President to develop and submit to such Council a set of appropriate sanctions to be used by such Council to encourage compliance with negotiated oil prices. Requires the President to report to Congress concerning progress with such negotiations.