To establish a Petroleum Industry Antitrust Task Force within the Department of Justice.
Mr. KERRY introduced the following bill; which was read twice and referred to the Committee on the Judiciary
To establish a Petroleum Industry Antitrust Task Force within the Department of Justice.
(a) Establishment of Task Force- The Attorney General shall establish in the Department of Justice a Petroleum Industry Antitrust Task Force (in this section referred to as the ‘Task Force’).
(b) Responsibilities of Task Force- The Task Force shall have the responsibility for--
(1) developing, coordinating, and facilitating the implementation of the investigative and enforcement policies of the Department of Justice relating to petroleum industry antitrust issues under Federal law;
(2) consulting with, and requesting assistance from, other Federal departments and agencies, as may be appropriate; and
(3) preparing and submitting to the Congress an annual report that--
(A) describes all investigatory and enforcement efforts of the Department of Justice relating to petroleum industry antitrust issues; and
(B) addresses the issues described in subsection (c).
(c) Issues To Be Examined by Task Force- The Task Force shall examine all issues relating to the application of Federal antitrust laws to the market for petroleum and petroleum products, including--
(1) the existence and effects of any price gouging in sales of gasoline;
(2) the existence and effects of any international oil cartels;
(3) the existence and effects of any collusive behavior in controlling or restricting petroleum refinery capacity;
(4) the existence and effects of any anticompetitive price discrimination by petroleum refiners or other wholesalers of gasoline to retail sellers of gasoline;
(5) the existence and effects of any unilateral actions, by refiners or other wholesalers of petroleum products, in the nature of withholding supply or otherwise refusing to sell petroleum products in order to inflate the price of such products above competitive levels;
(6) the existence and effects of any anticompetitive manipulation in futures markets or other trading exchanges relating to petroleum or petroleum products;
(7) the existence and effects of any other anticompetitive market manipulation activities involving petroleum or petroleum products;
(8) any other anticompetitive behavior that impacts the price or supply of petroleum or petroleum products;
(9) the advisability of revising the merger guidelines issued by the Department of Justice and the Federal Trade Commission to appropriately take into account particular aspects of the petroleum and petroleum products marketplace;
(10) the advisability of amending the antitrust laws in light of any competitive problems in the petroleum and petroleum products marketplace identified as part of the review of the issues described in paragraphs (1) through (8) that cannot be effectively addressed under such laws as in effect on the date of enactment of this Act; and
(11) the impact of excessive speculation relating to petroleum or petroleum products within the commodities futures trading market.
(d) Director of Task Force- The Attorney General shall appoint a Director to head the Task Force.
(e) Initial Report- The first report required under subsection (b)(3) shall be submitted to Congress not later than December 31, 2008.
U.S. Congress - Text of S.3081 as Introduced in Senate A bill to establish a Petroleum Industry Antitrust Task Force within the Department of ...
