Difference between revisions of "NOPEC"
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| − | No Oil Producing and Exporting Cartels Act (NOPEC) is federal legislation that would make foreign oil-producing cartels (such as [[OPEC]]) subject to American antitrust law that prohibits cartels. Specifically, the bill declares that oil-producing foreign states do not have sovereign immunity and may be sued under the Sherman Antitrust Act. | + | '''No Oil Producing and Exporting Cartels Act''' (NOPEC) is federal [[legislation]] that would make foreign oil-producing cartels (such as [[OPEC]]) subject to American [[antitrust]] law that prohibits cartels. Specifically, the bill declares that oil-producing foreign states do not have sovereign immunity and may be sued under the [[Sherman Antitrust Act]]. |
In 2007, NOPEC passed both Houses of Congress by veto-proof margins.<ref>http://clerk.house.gov/evs/2007/roll398.xml</ref><ref> | In 2007, NOPEC passed both Houses of Congress by veto-proof margins.<ref>http://clerk.house.gov/evs/2007/roll398.xml</ref><ref> | ||
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| − | [[Category:United States | + | [[Category:United States Laws]] |
Revision as of 00:11, January 15, 2008
No Oil Producing and Exporting Cartels Act (NOPEC) is federal legislation that would make foreign oil-producing cartels (such as OPEC) subject to American antitrust law that prohibits cartels. Specifically, the bill declares that oil-producing foreign states do not have sovereign immunity and may be sued under the Sherman Antitrust Act.
In 2007, NOPEC passed both Houses of Congress by veto-proof margins.[1][2]