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'Nopec' emerges again as US answer to Opec

The Straits Times LogoThe Straits Times1 mo ago

'Nopec' emerges again as US answer to Opec - The Straits Times

Quick Summary:

October 06, 2022 8:21 AM - WASHINGTON - United States legislation that could open members of Opec+ to antitrust lawsuits has emerged as a possible tool to tackle high fuel prices, after the oil cartel said it would slash production despite lobbying by the Biden administration.

ClearView Energy Partners, a nonpartisan research group, said Nopec, if introduced to the Senate floor, would likely get the 60 votes needed to pass the 100-member chamber.

In addition, the kingdom and other oil producers could limit US investments in their countries or simply raise their prices for oil sold into the US - undermining the basic aim of the bill.


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Article Details

Category: Economy

Markets:

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Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-10-06 @ 08:21:51 (1 months ago)

News Timezone: GMT +8:00

Ranking: #3139 (out of 3321 stories this day)

News Source URL: straitstimes.com

Language: English

Article Length: 810 words

Reading Time: 5 minutes read

Sentences: 37 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 749803

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Main Topics: Economy

Official Website: straitstimes.com

Update Frequency: 18 posts per day

Year Established: 1845

Headquarters: Singapore

News Last Updated: 2 hours ago

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