[Congressional Record (Bound Edition), Volume 157 (2011), Part 5]
[Extensions of Remarks]
[Page 7305]
[From the U.S. Government Publishing Office, www.gpo.gov]




      INTRODUCTION OF THE ``OIL CONSUMER PROTECTION ACT OF 2011''

                                 ______
                                 

                         HON. JOHN CONYERS, JR.

                              of michigan

                    in the house of representatives

                          Friday, May 13, 2011

  Mr. CONYERS. Mr. Speaker, today I am introducing the ``Oil Consumer 
Protection Act of 2011,'' legislation that would subject the 
Organization of Petroleum Exporting Countries, OPEC, nations to the 
U.S. antitrust laws, prohibit oil and gas companies from unilaterally 
withholding supply with the intent of raising prices or creating a 
shortage and would protect consumers from price gouging of gasoline.
  You do not have to look very hard to see that the American consumer 
is hurting. And if you ask people on the street what worries them most, 
the majority will tell you that it is the price of gasoline. American 
families and businesses are yet again paying record prices for 
gasoline. The retail price of gasoline has jumped and is now in the 
range of $4 per gallon. Driving should not have to be a luxury. 
Americans today are spending far too much of their paychecks at the 
pump.
  In my home State of Michigan, gas prices earlier this month reached 
their highest levels ever at $4.22 per gallon. Figures released by the 
AAA Michigan show that the $4.22 per gallon state average surpassed the 
previous record of $4.21 per gallon set in July 2008.
  My bill, once and for all, will crack down on foreign oil cartels. 
Currently, based on the sovereign immunity doctrine, foreign nations 
and businesses they control may avoid accountability under U.S. 
antitrust law. This bill would eliminate the doctrine and allow 
antitrust law to apply to anticompetitive cartels.
  This legislation, the ``Oil Consumer Protection Act of 2011'' would:
  Exempt OPEC and other nations from the provisions of the Foreign 
Sovereign Immunities Act to the extent those governments are engaged in 
price-fixing and other anticompetitive activities with regard to 
pricing, production and distribution of petroleum products. (OPEC 
currently claims sovereign immunity by saying its actions are 
``governmental activity,'' which is protected, rather than ``commercial 
activity,'' which is not.)
  Make clear that the so-called ``Act of State'' doctrine does not 
prevent courts from ruling on antitrust charges brought against foreign 
governments and that foreign governments are ``persons'' subject to 
suit under the antitrust laws.
  Authorize lawsuits in U.S. federal court against oil cartel members 
by the Justice Department and the Federal Trade Commission.
  Amend the Clayton Act to prohibit oil and gas companies from 
unilaterally withholding supply with the intent of raising prices or 
creating a shortage.
  Direct several studies, including a Justice Department/Federal Trade 
Commission study of mergers in the oil and gas industry, and a GAO 
study of whether government consent decrees in oil mergers have been 
effective.
  Direct the Attorney General and Federal Trade Commission Chairman to 
establish a joint federal/state task force with state attorneys general 
to investigate information sharing among oil companies.
  Would empower the Federal Trade Commission and state attorneys 
general to institute civil and criminal penalties for fuel price 
gouging during periods proclaimed by the President as an international 
crisis affecting oil markets.
  It is time someone did something about our outrageous gas prices. I 
hope Congress has the sense to act on this legislation immediately.

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