To require certain actions with respect to the Organization of Petroleum Exporting Countries (OPEC) or any other cartel engaged in oil price fixing, production cutbacks, or other market-distorting practices.
Directs the President to report to Congress with respect to: (1) any loan, guarantee, or technical assistance provided by any international financial institution that directly or indirectly supports any OPEC program or country, or any other cartel, engaging in production cutbacks or other market-distorting practices; (2) energy sector loans of, technical assistance provided by, and policies of each international financial institution, including an analysis of the extent to which they promote the complete dismantlement of international oil price fixing arrangements and the development of a market-based system for the exploration, production, and marketing of petroleum resources; (3) Organization for Economic Cooperation and Development (OECD) efforts to review market-distorting practices of international cartels, including OPEC, and specific actions that OECD member countries can undertake to combat such practices; and (4) U.S. actions to ensure that the OECD expands upon its activities and programs regarding the operation of international cartels.
Amends the Foreign Assistance Act of 1961 to direct the President, in providing assistance for the development of indigenous energy resources in developing non-OPEC countries, to ensure that such assistance is not used to support, directly or indirectly, OPEC programs or countries, or any other cartel, if OPEC or such cartel engages in oil price fixing.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E1103)
Referred to the Committee on International Relations, and in addition to the Committee on Banking and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. (text: CR E1103)
Referred to the Committee on International Relations, and in addition to the Committee on Banking and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. (text: CR E1103)
Referred to the Committee on International Relations, and in addition to the Committee on Banking and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on International Relations, and in addition to the Committee on Banking and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Domestic and International Monetary Policy.
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