U.S. House of Reps outlaws OPEC-type cartels
Published time: 23 May, 2007 04:45 Edited time: 23 May, 2007 08:45
The House of Representatives of the United States Congress has passed a bill declaring the creation of international oil and gas cartels – similiar to OPEC – illegal. The bill was passed with 345 votes in favour and only 72 against.
According to the document, any measures aimed at reducing oil and gas production or export, or raising prices for such products, are illegal.The bill states the U.S. government will have the right to sue foreign governments for such actions, as they would violate anti-monopoly law.Russia has already said the U.S. decision itself violates international law.