S.Amdt. 5124

1. Adds TITLE __--NO OIL PRODUCING AND EXPORTING CARTELS ACT OF 2008 at the end of the bill

   Adds a title

   In S. 3268 · Placed on Calendar Senate

   (b) Report.--If the Commission decides not to use the procedures described in subsection (a) in a specific instance, not later than 30 days after the date of the decision, the Commission shall submit to Congress a detailed report that describes in each instance the reasons for not using the procedures.

   Inserted: TITLE __--NO OIL PRODUCING AND EXPORTING CARTELS ACT OF 2008

   Inserted: SEC. __. NO OIL PRODUCING AND EXPORTING CARTELS ACT OF 2008.

   Inserted: (a) Short Title.--This section may be cited as the "No Oil Producing and Exporting Cartels Act of 2008" or "NOPEC".

   Inserted: (b) Sherman Act.--The Sherman Act (15 U.S.C. 1 et seq.) is amended by adding after section 7 the following:

   Inserted: "SEC. 7A. OIL PRODUCING CARTELS.

   Inserted: "(a) In General.--It shall be illegal and a violation of this Act for any foreign state, or any instrumentality or agent of any foreign state, to act collectively or in combination with any other foreign state, any instrumentality or agent of any other foreign state, or any other person, whether by cartel or any other association or form of cooperation or joint action--

   Inserted: "(1) to limit the production or distribution of oil, natural gas, or any other petroleum product;

   Inserted: "(2) to set or maintain the price of oil, natural gas, or any petroleum product; or

   Inserted: "(3) to otherwise take any action in restraint of trade for oil, natural gas, or any petroleum product; when such action, combination, or collective action has a direct, substantial, and reasonably foreseeable effect on the market, supply, price, or distribution of oil, natural gas, or other petroleum product in the United States.

   Inserted: "(b) Sovereign Immunity.--A foreign state engaged in conduct in violation of subsection (a) shall not be immune under the doctrine of sovereign immunity from the jurisdiction or judgments of the courts of the United States in any action brought to enforce this section.

   Inserted: "(c) Inapplicability of Act of State Doctrine.--No court of the United States shall decline, based on the act of state doctrine, to make a determination on the merits in an action brought under this section.

   Inserted: "(d) Enforcement.--The Attorney General of the United States may bring an action to enforce this section in any district court of the United States as provided under the antitrust laws.".

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   Inserted: (c) Sovereign Immunity.--Section 1605(a) of title 28, United States Code, is amended--

   Inserted: (1) in paragraph (6), by striking "or" after the semicolon;

   Inserted: (2) in paragraph (7), by striking the period and inserting "; or"; and

   Inserted: (3) by adding at the end the following:

   Inserted: "(8) in which the action is brought under section 7A of the Sherman Act.".

   Original wording

   At the end of the bill, insert the following:

Read automatically from the Congressional Record. Check the original before relying on it.

As printed