Oil Cartel Bill's Passage Is Long Overdue

Law360 (May 16, 2019, 2:10 PM EDT) -- For decades, policymakers have decried the selfish price-fixing conspiracy of the Organization of Petroleum Exporting Countries, which has inflated gasoline prices far above what they would be in a free market, hurting millions of American consumers with little action taken in response. Congress has now moved to address this threat with the reintroduction of the No Oil Producing and Exporting Cartels Act, which closes the loopholes that allow this cartel to operate in disregard of U.S. antitrust law and subject it to American antitrust scrutiny.

The U.S. Supreme Court has said price-fixing is the “supreme evil” of antitrust.[1] Yet the price-fixing actions...

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