US Senate panel advances anti-OPEC bill; next stop full Senate
Washington (Platts)--26Apr2004
The US Senate Judiciary Committee last week unanimously advanced the No Oil Producing and Exporting Cartels Act, or so-called NOPEC bill, which would permit the US Justice Department and the Federal Trade Commission to bring actions against foreign states--such as members of OPEC--for collusive practices in setting the price or production of oil or oil products. The bi-partisan Senate bill, S 2270, was sponsored by Sens. Mike DeWine (Republican- Ohio), Herb Kohl (Democrat-Wisconsin), Chuck Grassley (Republican-Iowa), Chuck Schumer (Democrat-New York), Russ Feingold (Democrat-Wisconsin), Patrick Leahy (Democrat-Vermont) and Norm Coleman (Republican-Minnesota). It was passed by the committee on Thursday, and will move next to the full Senate, although a vote has yet to be scheduled. A companion bill (H.R. 4106) was introduced in the House in early April by Democrats John Conyers of Michigan, Zoe Lofgren of California and Mike McIntyre of North Carolina, but it has yet to be acted on in committee.
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