Oil Industry Antitrust Bill Passes Judiciary Committee

Law360, New York (April 27, 2006, 12:00 AM EDT) -- Signaling a growing interest in revamping antitrust laws to tackle Big Oil, the U.S. Senate Judiciary Committee has given the green light to a recently proposed bill that would empower the U.S. Justice Department to target a Middle East oil cartel.

With a unanimous vote, the committee moved to send the Oil and Gas Industry Antitrust Act of 2006 to the Senate floor for a vote, paving the way for a government crackdown on allegedly illegal price manipulation that has sent oil prices through the roof....
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