S. 977, No Oil Producing and Exporting Cartels Act of 2021

Senate Judiciary Committee
216 Hart

05/05/2022 at 09:00AM

Hearing page

I. Nominee

  • S. Lane Tucker to be United States Attorney for the District of Alaska

II. Bill

  • S. 977, No Oil Producing and Exporting Cartels Act of 2021 (Grassley, Klobuchar, Lee, Leahy)

Related bill: H.R. 2393

The bill would seek to prohibit foreign states from working collectively to limit the production, set the price, or otherwise restrain the trading of petroleum and natural gas when such actions affect U.S. markets. The bill would authorize the Department of Justice (DOJ) to enforce the prohibition by filing antitrust actions in federal courts. Under the bill, foreign states that restrain trade in petroleum and natural gas would not be immune from the judgment of U.S. courts under the doctrine of sovereign immunity.