[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 2624 Introduced in Senate (IS)]
108th CONGRESS
2d Session
S. 2624
To require the United States Trade Representative to pursue a complaint
of anti-competitive practices against certain oil exporting countries.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
July 8, 2004
Mr. Lautenberg (for himself, Mr. Durbin, Mr. Levin, and Mr. Reid)
introduced the following bill; which was read twice and referred to the
Committee on Finance
_______________________________________________________________________
A BILL
To require the United States Trade Representative to pursue a complaint
of anti-competitive practices against certain oil exporting countries.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. FINDINGS.
Congress makes the following findings:
(1) Gasoline prices have risen 80 percent since January,
2002, with oil recently trading at more than $40 per barrel for
the first time ever.
(2) Rising gasoline prices have placed an inordinate burden
on American families.
(3) High gasoline prices have hindered and will continue to
hinder economic recovery.
(4) The Organization of Petroleum Exporting Countries
(OPEC) has formed a cartel and engaged in anti-competitive
practices to manipulate the price of oil, keeping it
artificially high.
(5) Six member nations of OPEC--Indonesia, Kuwait, Nigeria,
Qatar, the United Arab Emirates and Venezuela--are also members
of the World Trade Organization.
(6) The agreement among OPEC member nations to limit oil
exports is an illegal prohibition or restriction on the
exportation or sale for export of a product under Article XI of
the GATT 1994.
(7) The export quotas and resulting high prices harm
American families, undermine the American economy, impede
American and foreign commerce, and are contrary to the national
interests of the United States.
SEC. 2. ACTIONS TO CURB CERTAIN CARTEL ANTI-COMPETITIVE PRACTICES.
(a) Definitions.--
(1) GATT 1994.--The term ``GATT 1994'' has the meaning
given such term in section 2(1)(B) of the Uruguay Round
Agreements Act (19 U.S.C. 3501(1)(B)).
(2) Understanding on rules and procedures governing the
settlement of disputes.--The term ``Understanding on Rules and
Procedures Governing the Settlement of Disputes'' means the
agreement described in section 101(d)(16) of the Uruguay Round
Agreements Act (19 U.S.C. 3511(d)(16)).
(3) World trade organization.--
(A) In general.--The term ``World Trade
Organization'' means the organization established
pursuant to the WTO Agreement.
(B) WTO agreement.--The term ``WTO Agreement''
means the Agreement Establishing The World Trade
Organization entered into on April 15, 1994.
(b) Action by President.--
(1) In general.--Notwithstanding any other provision of
law, the President shall, not later than 15 days after the date
of enactment of this Act, initiate consultations with the
countries described in paragraph (2) to seek the elimination by
those countries of any action that--
(A) limits the production or distribution of oil,
natural gas, or any other petroleum product,
(B) sets or maintains the price of oil, natural
gas, or any petroleum product, or
(C) otherwise is an action in restraint of trade
with respect to oil, natural gas, or any petroleum
product,
when such action constitutes an act, policy, or practice that
is unjustifiable and burdens and restricts United States
commerce.
(2) Countries described.--The countries described in this
paragraph are the following:
(A) Indonesia.
(B) Kuwait.
(C) Nigeria.
(D) Qatar.
(E) The United Arab Emirates.
(F) Venezuela.
(c) Initiation of WTO Dispute Proceedings.--If the consultations
described in subsection (b) are not successful with respect to any
country described in subsection (b)(2), the United States Trade
Representative shall, not later than 60 days after the date of
enactment of this Act, institute proceedings pursuant to the
Understanding on Rules and Procedures Governing the Settlement of
Disputes with respect to that country and shall take appropriate action
with respect to that country under the trade remedy laws of the United
States.
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