S. 2557Senate109th Congress (2005-2007)In Committee

Oil and Gas Industry Antitrust Act of 2006

Introduced April 6, 2006

Legislative Activity

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6 earlier actions
SenateCalendars Latest Action

Placed on Senate Legislative Calendar under General Orders. Calendar No. 416.

April 27, 2006

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SenateIntro Referral

Sponsor introductory remarks on measure. (CR S1951-1952)

March 9, 2006

SenateIntro Referral

Introduced in Senate

April 6, 2006

SenateIntro Referral

Sponsor introductory remarks on measure. (CR S3213-3214)

April 6, 2006

SenateIntro Referral

Read twice and referred to the Committee on the Judiciary.

April 6, 2006

SenateCommittee

Committee on the Judiciary. Ordered to be reported without amendment favorably.

April 27, 2006

SenateCommittee

Committee on the Judiciary. Reported by Senator Specter without amendment. Without written report.

April 27, 2006

SenateCalendars

Placed on Senate Legislative Calendar under General Orders. Calendar No. 416.

April 27, 2006

Floor Debate

21 members

What members said about S. 2557 on the floor

12 Republicans9 Democrats
John F. Kerry
Sen. John F. KerryD-MA · Apr 6, 2006

Mr. President, today Senator Smith and I are introducing ``The Fallen Heroes Family Savings Act'' that will help military families that have suffered a tragic loss. In recent years, the Congress has…

Jeff Sessions
Sen. Jeff SessionsR-AL · Apr 6, 2006

Mr. President, I thank Senator Leahy, ranking member on the Judiciary Committee. I have received just this afternoon in my office some disturbing news in the form of correspondence from the…

Patrick J. Leahy
Sen. Patrick J. LeahyD-VT · Apr 6, 2006

Mr. President, I began this debate by praising the bipartisanship of the Judiciary Committee for reporting a comprehensive and realistic immigration bill to the Senate. I have said from the outset…

Richard J. Durbin
Sen. Richard J. DurbinD-IL · Apr 6, 2006

Madam President, this is a historic moment in the Senate. These who are witnessing this debate may think it is just another debate on another bill, but it is not. This is a debate that has been in…

Mary L. Landrieu
Sen. Mary L. LandrieuD-LA · Jul 31, 2006

Mr. President, before the Senator from Florida leaves the floor--and he may be staying through the debate--he has been extremely essential and instrumental and vital to the compromise that has come…

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Patrick J. Leahy
Sen. Patrick J. LeahyD-VT · Apr 6, 2006

Mr. President, I am proud to join with Senators Specter, Kohl, DeWine and others on a new bill, the Oil and Gas Industry Antitrust Act of 2006, which includes, as its centerpiece, our NOPEC…

John Cornyn
Sen. John CornynR-TX · Apr 6, 2006

Madam President, I rise to speak in opposition to closing off debate on the underlying bill. We have heard at great length how the opportunity to file and argue and have votes on amendments has been…

Chuck Grassley
Sen. Chuck GrassleyR-IA · Apr 6, 2006

Mr. President, I ask unanimous consent that the order for the quorum call be rescinded. Mr. President, I ask unanimous consent to speak for 15 minutes as in morning business. Mr. President, as…

George Allen
Sen. George AllenR-VA · Jul 31, 2006

On behalf of the leader, I object. Mr. President, I rise this afternoon in strong support of the Gulf of Mexico Energy Security Act. This is commonsense legislation. It will have a powerful and…

Olympia J. Snowe
Sen. Olympia J. SnoweR-ME · Jul 31, 2006

Mr. President, I yield myself 15 minutes under the previous time agreement. Thank you, Mr. President. I thank my colleague, Senator Dorgan. I rise today, along with my colleague, Senator Dorgan, to…

John Warner
Sen. John WarnerR-VA · Jul 31, 2006

Mr. President, when the matter of the pending Gulf of Mexico Energy Bill was first brought to my attention, and every day thereafter, I repeatedly spoke to the distinguished managers of this…

Larry E. Craig
Sen. Larry E. CraigR-ID · Apr 6, 2006

Madam President, would the chairman yield for a question? Let me first thank the chairman for his due diligence. There is no question that he has focused on this for a good many months and has tried…

Kent Conrad
Sen. Kent ConradD-ND · Apr 6, 2006

Mr. President, I rise today to introduce a comprehensive energy bill, one that I call Breaking Our Long-Term Dependency, or the BOLD Energy Act. As President Bush has stated, our Nation is addicted…

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Pete V. Domenici
Sen. Pete V. DomeniciR-NM · Jul 31, 2006

Mr. President, I believe I have 15 minutes at this point. Mr. President, let me say, before the distinguished Senator from Virginia leaves the floor, here is how I see the situation in terms of…

John F. Kerry
Sen. John F. KerryD-MA · Apr 6, 2006

Mr. President, I ask unanimous consent that the order for the quorum call be rescinded. Mr. President, I ask unanimous consent I be permitted to proceed as in morning business. Mr. President, what is…

Byron L. Dorgan
Sen. Byron L. DorganD-ND · Jul 31, 2006

Mr. President, if my colleague will yield for a unanimous consent request, my colleague from Maine and I wish to speak in 15- minute increments, taking the time from each side in the debate. I ask…

William H. Frist
Sen. William H. FristR-TN · Apr 6, 2006

Mr. President, this morning, the time until 10:30 will be equally divided for debate prior to the vote on invoking cloture on the Specter substitute to the border security bill. I now ask unanimous…

Harry Reid
Sen. Harry ReidD-NV · Apr 6, 2006

Mr. President, I am going to suggest the absence of a quorum so the leader and I may speak for a couple minutes before the debate starts. I ask unanimous consent that the time on our side be divided…

Wayne Allard
Sen. Wayne AllardR-CO · Apr 6, 2006

Mr. President, I ask unanimous consent that the order for the quorum call be rescinded. Mr. President, I come to the floor to respond to some of the comments that were just made by my colleague from…

Russell D. Feingold
Sen. Russell D. FeingoldD-WI · Apr 6, 2006

Madam President, I will vote in favor of cloture on the Judiciary Committee substitute to S. 2454, the immigration bill that is pending. This substitute is not a perfect bill, but it is a good bill,…

Tom Coburn
Sen. Tom CoburnR-OK · Apr 6, 2006

Mr. President, today, along with Senators Barack Obama, Thomas Carper, and John McCain, I introduced legislation to create an online public database that itemizes Federal funding. The bill ensures…

Herb Kohl
Sen. Herb KohlD-WI · Apr 6, 2006

Mr. President, I rise today with Senator Specter to introduce the Oil and Gas Industry Antitrust Act of 2006. This legislation will make several important and overdue reforms to our antitrust laws to…

Herb Kohl
Sen. Herb KohlD-WI · Apr 6, 2006

Mr. President, I rise today with Senator Specter to introduce the Oil and Gas Industry Antitrust Act of 2006. This legislation will make several important and overdue reforms to our antitrust laws to…

Mike DeWine
Sen. Mike DeWineR-OH · Apr 6, 2006

Mr. President, I am proud to join as a co-sponsor of Senator Specter's Oil and Gas Industry Antitrust Act. This bill should help us curb the skyrocketing energy prices that have been an increasing…

Bill Text

2 versions available

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Latest
Reported to SenateIssued April 27, 2006

II

Calendar No. 416

109th CONGRESS

2d Session

S. 2557

IN THE SENATE OF THE UNITED STATES

April 6, 2006

Mr. Specter (for himself, Mr. Kohl, Mr. DeWine, Mr. Leahy, Mrs. Feinstein, Mr. Durbin, Mr. Lieberman, Mr. Biden, and Mr. Feingold) introduced the following bill; which was read twice and referred to the Committee on the Judiciary

April 27, 2006

Reported by Mr. Specter, without amendment

A BILL

To improve competition in the oil and gas industry, to strengthen antitrust enforcement with regard to industry mergers, and for other purposes.

1.

Short title

This Act may be cited as the Oil and Gas Industry Antitrust Act of 2006.

2.

Prohibition on unilateral withholding

The Clayton Act (15 U.S.C. 12 et seq.) is amended—

(1)

by redesignating section 28 as section 29; and

(2)

by inserting after section 27 the following:

28.

Oil and natural gas

(a)

In general

Except as provided in subsection (b), it shall be unlawful for any person to refuse to sell, or to export or divert, existing supplies of petroleum, gasoline, or other fuel derived from petroleum, or natural gas with the primary intention of increasing prices or creating a shortage in a geographic market.

(b)

Considerations

In determining whether a person who has refused to sell, or exported or diverted, existing supplies of petroleum, gasoline, or other fuel derived from petroleum or natural gas has done so with the intent of increasing prices or creating a shortage in a geographic market under subsection (a), the court shall consider whether—

(1)

the cost of acquiring, producing, refining, processing, marketing, selling, or otherwise making such products available has increased; and

(2)

the price obtained from exporting or diverting existing supplies is greater than the price obtained where the existing supplies are located or are intended to be shipped.

.

3.

Review of Clayton Act

(a)

In general

The Attorney General and the Chairman of the Federal Trade Commission shall conduct a study, including a review of the report submitted under section 4, regarding whether section 7 of the Clayton Act should be amended to modify how that section applies to persons engaged in the business of exploring for, producing, refining, or otherwise processing, storing, marketing, selling, or otherwise making available petroleum, gasoline or other fuel derived from petroleum, or natural gas.

(b)

Report

Not later than 270 days after the date of enactment of this Act, the Attorney General and the Chairman of the Federal Trade Commission shall submit a report to Congress regarding the findings of the study conducted under subsection (a), including recommendations and proposed legislation, if any.

4.

Study by the government accountability office

(a)

Definition

In this section, the term covered consent decree means a consent decree—

(1)

to which either the Federal Trade Commission or the Department of Justice is a party;

(2)

that was entered by the district court not earlier than 10 years before the date of enactment of this Act;

(3)

that required divestitures; and

(4)

that involved a person engaged in the business of exploring for, producing, refining, or otherwise processing, storing, marketing, selling, or otherwise making available petroleum, gasoline or other fuel derived from petroleum, or natural gas.

(b)

Requirement for a study

Not later than 180 days after the date of enactment of this Act, the Comptroller General of the United States shall conduct a study evaluating the effectiveness of divestitures required under covered consent decrees.

(c)

Requirement for a report

Not later than 180 days after the date of enactment of this Act, the Comptroller General shall submit a report to Congress, the Federal Trade Commission, and the Department of Justice regarding the findings of the study conducted under subsection (b).

(d)

Federal agency consideration

Upon receipt of the report required by subsection (c), the Attorney General or the Chairman of the Federal Trade Commission, as appropriate, shall consider whether any additional action is required to restore competition or prevent a substantial lessening of competition occurring as a result of any transaction that was the subject of the study conducted under subsection (b).

5.

Joint Federal and State task force

The Attorney General and the Chairman of the Federal Trade Commission shall establish a joint Federal-State task force, which shall include the attorney general of any State that chooses to participate, to investigate information sharing (including through the use of exchange agreements and commercial information services) among persons in the business of exploring for, producing, refining, or otherwise processing, storing, marketing, selling, or otherwise making available petroleum, gasoline or other fuel derived from petroleum, or natural gas (including any person about which the Energy Information Administration collects financial and operating data as part of its Financial Reporting System).

6.

No oil producing and exporting cartels

(a)

Short title

This section may be cited as the No Oil Producing and Exporting Cartels Act of 2006 or NOPEC.

(b)

Sherman Act

The Sherman Act (15 U.S.C. 1 et seq.) is amended—

(1)

by redesignating section 8 as section 9; and

(2)

by inserting after section 7 the following:

8.

Oil producing cartels

(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, in the circumstances described in subsection (b), 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—

(1)

to limit the production or distribution of oil, natural gas, or any other petroleum product;

(2)

to set or maintain the price of oil, natural gas, or any petroleum product; or

(3)

to otherwise take any action in restraint of trade for oil, natural gas, or any petroleum product.

(b)

Circumstances

The circumstances described in this subsection are an instance when an action, combination, or collective action described in subsection (a) 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.

(c)

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.

(d)

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.

(e)

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, as defined in section 1(a) of the Clayton Act (15 U.S.C. 12(a)).

.

(c)

Sovereign immunity

Section 1605(a) of title 28, United States Code, is amended—

(1)

in paragraph (6), by striking or at the end;

(2)

in paragraph (7), by striking the period at the end and inserting ; or; and

(3)

by adding at the end the following:

(8)

in which the action is brought under section 8 of the Sherman Act.

.

April 27, 2006

Reported without amendment