[Congressional Record Volume 151, Number 41 (Monday, April 11, 2005)]
[Senate]
[Pages S3424-S3425]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. LAUTENBERG (for himself, Mr. Durbin, and Mr. Dorgan):
  S. 752. A bill to require the United States Trade Representative to 
pursue a complaint of anti-competitive practices against certain oil 
exporting countries; to the Committee on Finance.
  Mr. LAUTENBERG. Mr. President, I ask unanimous consent that the text 
of the bill be printed in the Record.
  There being no objection, the bill was ordered to be printed in the 
Record, as follows:

                                 S. 752

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled,

     SECTION 1. SHORT TITLE.

       This Act may be cited as the ``OPEC Accountability Act''.

     SEC. 2. FINDINGS.

       Congress makes the following findings:
       (1) Gasoline prices have nearly doubled since January, 
     2002, with oil recently trading at more than $58 per barrel 
     for the first time ever.
       (2) Rising gasoline prices have placed an inordinate burden 
     on American families.
       (3) High gasoline prices have hindered and will continue to 
     hinder economic recovery.
       (4) The Organization of Petroleum Exporting Countries 
     (OPEC) has formed a cartel and engaged in anti-competitive 
     practices to manipulate the price of oil, keeping it 
     artificially high.
       (5) Six member nations of OPEC--Indonesia, Kuwait, Nigeria, 
     Qatar, the United Arab Emirates and Venezuela--are also 
     members of the World Trade Organization.
       (6) The agreement among OPEC member nations to limit oil 
     exports is an illegal prohibition or restriction on the 
     exportation or

[[Page S3425]]

     sale for export of a product under Article XI of the GATT 
     1994.
       (7) The export quotas and resulting high prices harm 
     American families, undermine the American economy, impede 
     American and foreign commerce, and are contrary to the 
     national interests of the United States.

     SEC. 3. ACTIONS TO CURB CERTAIN CARTEL ANTI-COMPETITIVE 
                   PRACTICES.

       (a) Definitions.--In this Act:
       (1) GATT 1994.--The term ``GATT 1994'' has the meaning 
     given such term in section 2(1)(B) of the Uruguay Round 
     Agreements Act (19 U.S.C. 3501(1)(B)).
       (2) Understanding on rules and procedures governing the 
     settlement of disputes.--The term ``Understanding on Rules 
     and Procedures Governing the Settlement of Disputes'' means 
     the agreement described in section 101(d)(16) of the Uruguay 
     Round Agreements Act (19 U.S.C. 3511(d)(16)).
       (3) World trade organization.--
       (A) In general.--The term ``World Trade Organization'' 
     means the organization established pursuant to the WTO 
     Agreement.
       (B) WTO agreement.--The term ``WTO Agreement'' means the 
     Agreement Establishing The World Trade Organization entered 
     into on April 15, 1994.
       (b) Action by President.--
       (1) In general.--Notwithstanding any other provision of 
     law, the President shall, not later than 15 days after the 
     date of enactment of this Act, initiate consultations with 
     the countries described in paragraph (2) to seek the 
     elimination by those countries of any action that--
       (A) limits the production or distribution of oil, natural 
     gas, or any other petroleum product,
       (B) sets or maintains the price of oil, natural gas, or any 
     petroleum product, or
       (C) otherwise is an action in restraint of trade with 
     respect to oil, natural gas, or any petroleum product, when 
     such action constitutes an act, policy, or practice that is 
     unjustifiable and burdens and restricts United States 
     commerce.
       (2) Countries described.--The countries described in this 
     paragraph are the following:
       (A) Indonesia.
       (B) Kuwait.
       (C) Nigeria.
       (D) Qatar.
       (E) The United Arab Emirates.
       (F) Venezuela.
       (c) Initiation of WTO Dispute Proceedings.--If the 
     consultations described in subsection (b) are not successful 
     with respect to any country described in subsection (b)(2), 
     the United States Trade Representative shall, not later than 
     60 days after the date of enactment of this Act, institute 
     proceedings pursuant to the Understanding on Rules and 
     Procedures Governing the Settlement of Disputes with respect 
     to that country and shall take appropriate action with 
     respect to that country under the trade remedy laws of the 
     United States.
                                 ______