Retaliation Risks From NOPEC Bill Exaggerated, Proponents Say
- Past efforts to sue OPEC haven’t led to reprisals: report
- Report commissioned by Securing America’s Future Energy
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A report commissioned by proponents of U.S. anti-OPEC legislation said that fears of retaliation by the oil cartel are overblown.
The "No Oil Producing and Exporting Cartels Act," or NOPEC, would subject the group of oil producers to possible antitrust action by the Justice Department. Opponents warn that its passage would hurt U.S. diplomatic interests and provoke retaliation against U.S. producers. But a new white paper written on behalf of Securing America’s Future Energy, which advocates for curtailing oil dependence, argues that those fears are overblown.