The No Oil Producing and Exporting Cartels Act (NOPEC) would amend the Sherman Antitrust Act to disallow OPEC from evading U.S. antitrust law.
- NOPEC would enable the Department of Justice to crack down on oil market manipulation by allowing the United States to take legal action against any foreign state and/or their state-run oil companies for price fixing and other anti-competitive activities.
- Enacting NOPEC into law would combat the price-fixing, anti-competitive antics of the cartel, ensuring a free, transparent, and stable oil market with substantially reduced risk of sudden swings in price and supply.
In October 2022, 12 members of SAFE’s Energy Security Leadership Council (ESLC) – 11 retired four-star military officers plus a former service secretary – submitted a letter addressed to President Biden stating in part: “The passage of NOPEC would demonstrate that the United States is serious about combatting oil market manipulation and will hold malign actors to account.…NOPEC would constitute a vital first step toward restoring full American sovereignty, which includes ending Saudi Arabia’s ability to take hostage our economy.”
Recent Activity
Retired Military Leaders Urge White House to Support NOPEC
SAFE, National Security Experts, Commend Leader Schumer and Senator Grassley Call for Passing NOPEC in Response to OPEC Production Cuts
Energy Security Advocates Assail Oil Production Cuts and Call for NOPEC Vote
Carrots and Sticks Needed to End Oil Dependence
Congress Should Immediately Pass NOPEC in Response to OPEC’s Refusal to Increase Oil Production
Highlights of Press Call on U.S.-Saudi Relations & NOPEC
Saying No to the Oil Cartel
SAFE Commends Advance of NOPEC Legislation
