Canceling Oil Leases for Companies Manipulating Fuel Prices with OPEC.
This bill aims to protect consumers from artificially inflated fuel prices. If the Federal Trade Commission finds that a company holding federal oil or gas leases colluded with OPEC countries to manipulate market prices, that company will lose all its leases. This measure seeks to deter unfair practices and potentially stabilize energy costs for households.
Key points
Companies found guilty of manipulating oil or gas prices in coordination with OPEC will have their federal leases canceled.
The violating company will be permanently banned from bidding on any future federal oil and gas leases.
Expired
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