What is the official ID of this bill?
The official print number for this legislation is S 977.
No Oil Cartels Act: Lower Fuel Prices for Citizens?
This law aims to combat foreign cartels that manipulate oil and gas prices. If enacted, it could lead to more stable and potentially lower fuel prices at gas stations, impacting every household's budget. The U.S. government will gain tools to prosecute such practices, protecting consumers from artificially inflated energy costs.
Key points
The act prohibits foreign states and their entities from collectively limiting production or setting prices for oil, natural gas, and petroleum products.
U.S. courts will not be able to decline hearing cases against oil cartels, making prosecution easier.
The U.S. Department of Justice will have the sole authority to bring actions against such cartels, ensuring efficient enforcement of the law.
Status:
Expired
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