Oil Industry Rails Against Draft Antitrust Bill

Law360, New York (April 10, 2006, 12:00 AM EDT) -- The oil industry is firing back at a proposed bill introduced to Congress last week that aims to lower energy prices for consumers by increasing competition in oil and gas markets, saying the legislation would have a negative impact on refining industry operations and could potentially impact export markets.

The two-pronged bill, known as the Petroleum Industry Antitrust Act of 2006, would dramatically change U.S. antitrust laws by giving the government greater power to sue foreign oil producers and prevent mergers and acquisitions between domestic oil...
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