Last modified on January 15, 2008, at 00:12

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.

In 2007, NOPEC passed both Houses of Congress by veto-proof margins.[1][2]

References

  1. http://clerk.house.gov/evs/2007/roll398.xml
  2. http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=110&session=1&vote=00215