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News > Economy
OPEC antitrust bill unveiled
June 23, 2000: 7:18 p.m. ET

Measure, if passed, would let U.S. consumers to sue overseas energy cartel
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WASHINGTON (CNN) - U.S. consumers, angry about the high price they are paying for gasoline, will be able to sue OPEC for violating American antitrust laws, if a bill introduced in the House Friday becomes law.

Rep. Benjamin Gilman, R-N.Y., Chairman of the House International Relations Committee, blamed the international oil cartel - which sets production levels for many oil-producing nations - for the recent spike in gas prices in this country when he announced the Foreign Trust Busting Act at a news conference.

graphic"They turned the tap off. They reduced the supply to our nation," he said angrily. The bill would allow suits against overseas energy cartels by removing a legal obstacle known as the 'Act of State' doctrine, under which "courts generally don't question the official acts of foreign governments," Gilman said.

The bill would allow judges to seize OPEC's American assets, according to an aide to the congressman.

A second bill introduced by Gilman directs the president to ensure that the United States and other countries and organizations are not "directly or indirectly promoting the oil price-fixing activities, policies, and programs of OPEC."

The purpose of the two bills, Gilman said, is "to give this administration and the next administration the tools they need to get a fair price of gas for American consumers." Back to top

  RELATED STORIES

Kandel on OPEC - June 23, 2000

Q&A:Warburton on oil - June 23, 2000

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  RELATED SITES

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