House passes Kagen’s bill to take on oil cartels [The Oshkosh Northwestern]
By Ellyn Ferguson, Gannett News Service
WASHINGTON - Nearly three-quarters of the House voted for Rep. Steve Kagen’s bill Tuesday to allow the U.S. government to sue the Organization of Petroleum Exporting Countries for manipulating supplies and prices.
The vote was 324-84 with all eight Wisconsin House members supporting the measure. It comes a few days before Congress starts its Memorial Day recess and constituents kick off the summer driving season with pump prices pushing $4 a gallon for regular unleaded gasoline.
Kagen’s bill incorporates the No Oil Producing and Exporting Cartels (NOPEC) bill that sailed through the House in May 2007 on a 345-72 vote. Sen. Herb Kohl, D-Wis., got a version of NOPEC through a Senate committee but has been unable to advance it to the Senate floor.
Kagen, D-Appleton, calls his bill the Gas Price Relief for Consumers Act. In addition to amending the Sherman Antitrust Act, Kagen’s bill would require the Justice Department to create a task force charged with policing the U.S. market for practices that limit energy production and manipulate prices.
OPEC members currently cannot be sued under federal antitrust laws because they classify their oil sales as a governmental rather than commercial activity.
Kagen’s bill would make it illegal for foreign countries to engage in any action that restricts the trade or sale of oil and natural gas. Foreign countries accused of such actions would not be able to invoke sovereign immunity to avoid lawsuits.
Read the full article at the OshKosh Northwestern website
