Section 1 Short title
This Act may be cited as the “No Oil Producing and Exporting Cartels Act of 2018” or “NOPEC”.
No Oil Producing and Exporting Cartels Act of 2018
A BILL
To amend the Sherman Act to make oil-producing and exporting cartels illegal.
Sec. 2 Sherman act
The Sherman Act (15 U.S.C. 1 et seq.) is amended by adding after section 7 the following:
“7A. Oil producing cartels
“(a) In general—It shall be illegal and a violation of this Act for any foreign state, or any instrumentality or agent of any foreign state, to act collectively or in combination with any other foreign state, any instrumentality or agent of any other foreign state, or any other person, whether by cartel or any other association or form of cooperation or joint action—
“(1) to limit the production or distribution of oil, natural gas, or any other petroleum product;
“(2) to set or maintain the price of oil, natural gas, or any petroleum product; or
“(3) to otherwise take any action in restraint of trade for oil, natural gas, or any petroleum product;
“(b) Sovereign immunity—A foreign state engaged in conduct in violation of subsection (a) shall not be immune under the doctrine of sovereign immunity from the jurisdiction or judgments of the courts of the United States in any action brought to enforce this section.
“(c) Inapplicability of act of state doctrine—No court of the United States shall decline, based on the act of state doctrine, to make a determination on the merits in an action brought under this section.
“(d) Enforcement—The Attorney General of the United States may bring an action to enforce this section in any district court of the United States as provided under the antitrust laws.”