House Joins Push To Crack Down On Oil Cartels

Law360, New York (May 15, 2007, 12:00 AM EDT) -- Lawmakers in the U.S. House of Representatives have proposed a bill that would give the Department of Justice the power to launch antitrust lawsuits against international oil cartels, including the Organization of the Petroleum Exporting Countries.

The No Oil Producing Exporting Cartel Act of 2007, introduced in the House Committee on the Judiciary on May 10, would add a clause to the Sherman Act to allow the DOJ to take legal action against countries believed to be colluding to fix oil prices. It might allow the...
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