118 HR 9118 IH: To cancel Federal oil and gas leases held by entities that manipulate the market price of oil or gas in violation of certain Federal law, and for other purposes. U.S. House of Representatives 2024-07-24 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I118th CONGRESS2d SessionH. R. 9118IN THE HOUSE OF REPRESENTATIVESJuly 24, 2024Ms. Barragán (for herself, Mr. Grijalva, Ms. Tlaib, Ms. Norton, Mr. Carson, Ms. Titus, Ms. Ocasio-Cortez, Mr. Mullin, Ms. Lee of California, Ms. Omar, Mrs. Watson Coleman, and Mr. Huffman) introduced the following bill; which was referred to the Committee on Natural ResourcesA BILLTo cancel Federal oil and gas leases held by entities that manipulate the market price of oil or gas in violation of certain Federal law, and for other purposes.

1.

Cancellation of oil and gas leases held by entities that manipulate the market price of oil or gas in violation of certain Federal law

(a)

Finding by the Federal Trade Commission

If the Federal Trade Commission issues a final order that finds that a person that holds a Federal oil and gas lease coordinated with an OPEC country or an OPEC plus country to manipulate the market price of oil or gas in violation of section 1 of the Sherman Act (15 U.S.C. 1) or the Clayton Act (15 U.S.C. 12 et seq.)—(1)the Secretary of the Interior shall, to the extent allowable by law—(A)cancel each Federal oil and gas lease held by such person; and(B)not renew or extend any Federal oil and gas lease held by such person; and(2)such person may not bid on any Federal oil and gas lease beginning on the date on which the Federal Trade Commission issues such final order.(b)

Definitions

In this section:(1)

Federal mineral leasing law

The term Federal mineral leasing law means any Federal law administered by the Secretary of the Interior authorizing the disposition under lease of oil or gas.(2)

Federal oil and gas lease

The term Federal oil and gas lease means an oil and gas lease issued by the Secretary of the Interior under any of the Federal mineral leasing laws.(3)

OPEC country

The term OPEC country means Algeria, Congo, Equatorial Guinea, Gabon, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, United Arab Emirates, or Venezuela.(4)

OPEC plus country

The term OPEC plus country means Azerbaijan, Bahrain, Brunei, Kazakhstan, Malaysia, Mexico, Oman, Russia, South Sudan, or Sudan.