Senate Judiciary OKs Bill Proposing Tougher Enforcement of Oil, Gas

The Senate Judiciary Committee approved by voice vote Thursday a bill that seeks to tame natural gas and crude oil prices by strengthening antitrust enforcement and bolstering competition in the energy industry.
The measure (S 2557) would subject energy companies to prosecution under the Clayton Act if they withhold oil and gas in an effort to raise prices; calls for a joint federal-state task force to be created to investigate information-sharing between companies to determine if the practice has encouraged anti-competitive pricing; and requires the Department of Justice and Federal Trade Commission to study whether future consolidations in the energy industry need closer scrutiny.

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