OPEC Bill Revived in US Congress
The "No Oil Producing and Exporting Cartels Act," also known as NOPEC, has been reintroduced in US Congress by a bipartisan group of senators. The bill aims to "improve fairness and stability in the global oil market." The US federal government would be able to take action against price fixing by OPEC, potentially seeking billions of dollars in reparations. However, it is not clear that the bill's prospects are any better than they've been since the past. A news release on the effort said that Chuck Grassley was quoted saying of the initiative jointly sponsored by fellow Republican senator Mike Lee and two Democrats — Amy Klobuchar and Dick Durbin.