Antitrust Analysis of NOPEC Legislation

This Article analyzes the proposed "No Oil Producing and Exporting Cartels Act of 2019" (NOPEC). This legislation, which was introduced in the United States Senate and House of Representatives, addresses the antitrust issues involved in suing the Organization of the Petroleum Exporting Countries (OPEC), their member states and their state owned oil companies (SOEs), other states and their SOEs, and private companies for their participation in an international cartel that has long been involved in regulating the production and distribution of oil and other petroleum products. It is our view that this proposed legislation provides a relatively moderate approach to applying U.S. antitrust law to the activities of the likely participants in this cartel. The legislation does not completely cure all the legal problems, but it does remove substantial roadblocks that have allowed this cartel to operate in disregard of U.S. antitrust law.