US: House chairman wants administration to support anti-OPEC legislation

Goodlatte, outgoing chair of the House of Representatives Judiciary Committee, pressed the Justice Department’s Makan Delrahim on Wednesday to support legislation that would make it easier for the US government to sue to stop OPEC members from pushing up oil prices.

Goodlatte, a Republican, noted that the Organization of the Petroleum Exporting Countries agreed this month to cut production to push up oil prices, something that would normally violate US law.

“The fact that OPEC is not being held accountable for its anticompetitive behavior makes a mockery of US antitrust law,” said Goodlatte, who asked Delrahim if the administration would support the bill, called the No Oil Producing and Exporting Cartels Act of 2018.

Full Content: SP Global

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