II 109th CONGRESS 1st Session S. 555 IN THE SENATE OF THE UNITED STATES March 8, 2005 Mr. DeWine (for himself, Mr. Kohl, Mr. Leahy, Mr. Grassley, Mr. Feingold, Ms. Snowe, Mr. Schumer, Mr. Durbin, Mr. Levin, Mrs. Boxer, Mr. Wyden, Mr. Corzine, and Mr. Dayton) introduced the following bill; which was read twice and referred to the Committee on the Judiciary A BILL To amend the Sherman Act to make oil-producing and exporting cartels illegal.

1.

Short title

This Act may be cited as the No Oil Producing and Exporting Cartels Act of 2005 or NOPEC.

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; when such action, combination, or collective action has a direct, substantial, and reasonably foreseeable effect on the market, supply, price, or distribution of oil, natural gas, or other petroleum product in the United States.(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 and the Federal Trade Commission may bring an action to enforce this section in any district court of the United States as provided under the antitrust laws.

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3.

Sovereign immunity

Section 1605(a) of title 28, United States Code, is amended— (1)in paragraph (6), by striking or after the semicolon; (2)in paragraph (7), by striking the period and inserting ; or; and (3)by adding at the end the following: (8)in which the action is brought under section 7A of the Sherman Act. .