S.2964 - OPEC Accountability Act

A bill to require the United States Trade Representative to pursue a complaint of anticompetitive practices against certain oil exporting countries. view all titles (2)

All Bill Titles

  • Official: A bill to require the United States Trade Representative to pursue a complaint of anticompetitive practices against certain oil exporting countries. as introduced.
  • Short: OPEC Accountability Act as introduced.

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Introduced
 
Senate
Passes
 
House
Passes
 
President
Signs
 

 
05/01/08
 
 
 
 
 
 
 

Official Summary

OPEC Accountability Act - Requires the President to initiate consultations with Indonesia, Kuwait, Nigeria, Qatar, the United Arab Emirates, Venezuela, Ecuador, and Saudi Arabia to seek their elimination of any action that: (1) limits the production or distribution of oil, natural gas, or a

Official Summary

OPEC Accountability Act - Requires the President to initiate consultations with Indonesia, Kuwait, Nigeria, Qatar, the United Arab Emirates, Venezuela, Ecuador, and Saudi Arabia to seek their elimination of any action that:
(1) limits the production or distribution of oil, natural gas, or any other petroleum product;
(2) sets or maintains the price of any such product; or
(3) otherwise is an action in restraint of trade with respect to such products when such action constitutes an act, policy, or practice that is unjustifiable and burdens and restricts U.S. commerce. Requires the U.S. Trade Representative to:
(1) initiate World Trade Organization (WTO) dispute proceedings if the consultation is not successful with respect to any such country; and
(2) take appropriate action regarding the country under U.S. trade remedy laws.

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