Brosnachadh Bipartisan In Judiciary is trying to & # 39; make OPEC illegal




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Flames burn at an oil processing facility in the Saudi Aramco oil range in the Rub & Al-Khali (Quty Fty) in Shaybah, Saudi Arabia in 2018. The House Judgment Committee wants to do OPEC, of ​​which Saudi is a member, illegal Vice-Designer: Simon Dawson / Bloomberg& copy; 2018 Bloomberg Ionmhas LP

And you thought that the US government just made war on terrorism and trade war with China and the Cold War with Russia. Nope. Some in the House of Respondents do one with OPEC. On 7 February, the NOPEC Bill passed the House Judgment Committee. It's just like it looks like.

Measuring Bipartisan House 948 was introduced by Ohio Republican Steve Chabot on February 4. There are three sponsors from Democratic parties, including the Texas Sheila Lee Jackson resident. HR 948 attempts to change the Sherman Act to make oil and its; describes illegal charters. Without OPEC. Similar bills have passed past a committee level, recently in the last Congress.

Convener Steve Chabot introduced legislation to make it more difficult for American companies to do business with OPEC. (Leigh Taylor / WCPO through AP, Pool) credit card: KEY STAFF

"It's not clear if this goes beyond the House or the Assembly," said Michael Cohen, economist with Barclays Capital in New York who sent a note on Thursday. "There is a co-selection of non-ever-changing interests between the Democrats who see this as a measure against the Saudi and the Trump itself that is on Opposition of OPEC for a long time. In a way the stars decided, "Cohen says.

The most recent version of this text typically exposes Damocles over the OPEC nations' clans and multi-agency groups; Do business there that could be involved in lawsuit if they keep the law.

This leaflet has a long way to become a law. But if it does, "it will be illegal and the breach of the Sherman Antitrust Act for any state related to a foreign country or instrument or any agent of a foreign state, to work together or with any other foreign state, any other device or device of any other foreign state, or any other person, whether it is in one quarter or any other company or form of cooperative or co-operation to restrict no restriction of oil, natural gas or any other petrol product; oil prices, natural gas, or any petroleum product is located or maintained, or restricts trade for oil, natural gas, or petroleum product Anything … if that activity … has a direct, substantive and reasonable impact on market, solar, price, or distribution of oil, natural gas or other petroleum products in the United States. "

It is hard to believe that OPEC can not be seen who will; creating countries, and OPEC-plus countries such as Russia and Kazakhstan, this is a danger to their most valuable materials.

At home, even oil lobbying, as represented by the American Petroleum Institute (API), is against it.

Michael Sommers, president and chief executive of the American Petroleum Institute. The OPEC may probably enjoy the oil co-op, but it is sure that this blow is # 39; hate. Photographer: photo sculpture Patrick T. Fallon / Bloomberg: & copy; 2017 Bloomberg Ionmhas LP& copy; 2017 Bloomberg Ionmhas LP

API has been facing anti-NOPEC lobbying to members of the Household Committees of the House from August. & nbsp;

On 5 February, API sent a letter co-sponsor of the bill and chairman of Councilor Jerrold Nadler (D-NY) and Doug Collins (R-Ga). The same letter was sentenced to the Judiciary chairman of Lindsey Graham (R-SC) and Dianne Feinstein (D-Calif). API President Mike Sommers wrote that they had seen it legislation & nbsp;as "creating a lot adversely affected USouth WesterlyS. & nbsp;diplomatic, military and business interests and has little impact on it market driving campaigns. "

There are several commitments that this bill would be for full market. Barclays considers that this legislation would pass, it would threaten OPEC's sustainability and the OPEC-plus group , which could drag the floor out of oil prices.

Any food to move forward with this legislation depends on oil prices. Cohen from Barclays says that several questions have been raised by this bill. Some of them include whether the Jews would Keeping out more capacity if it's been exported to market stocking. OPEC members would be allowed to continue partnerships with US companies. if that legislation was made? And what are the dangers of the SAA companies if they have their partnerships with OPEC countries?

Khalid Al-Falih, Arabian energy minister and businessman, talked to reporters ahead of a meeting of the 175th Association of Petroleum Change Countries (OPEC) in Vienna, Austria, in December 2018. Photographer : Stefan Wermuth / Bloomberg photo credits: & copy; 2018 Bloomberg Ionmhas LP& copy; 2018 Bloomberg Ionmhas LP

There is one other side of this that Cohen did not, perhaps because of the fact that it's not so easy: what will it do? coming from the petrol? What is a stop from Saudi Arabia? oil prices in Chinese yuan for Asian markets?

"The legislation threatens major, non-visual effects for the US natural and oil gas industry and its continued success in the decline of OPEC's negative market effects," Sommers' writing.

U.S. oil oil production in recent years, helps to emphasize gasoline prices and low demand for pressures from OPEC representatives. After the 28th of April, a member of the OPEC member of Venezuela will be allowed to sell raw oil to the United States due to the continuing political crisis there. Sommers said partners with Mexico and Canada, combined with oil and gas growth, have helped the US itself from OPEC.

However, even though the US is not now entering its & # 39; Most of the raw oil needs, OPEC is still a global price seat.

Oil and oil coating companies have not been successful in getting Washington to see things on the road again. In 2014, Exxon did not confirm the Obama Administration to make it easier for the Russian oil company, Rosneft. Obama allowed Rosneft, who was crucial to kill $ 700 million co-operation of a $ 38 million co-operation with Exxon; company.

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Flames burn at an oil processing facility in the Saudi Aramco oil range in the Rub & Al-Khali (Quty Fty) in Shaybah, Saudi Arabia in 2018. The House Judgment Committee wants to do OPEC, of ​​which Saudi is a member, illegal Vice-Designer: Simon Dawson / Bloomberg© 2018 Bloomberg Finance LP

And you thought that the US government just made war on terrorism and trade war with China and the Cold War with Russia. Nope. Some in the House of Respondents do one with OPEC. On 7 February, the NOPEC Bill passed the House Judgment Committee. It's just like it looks like.

The Resolution House Bipartisan 948 was introduced by the Ohio Republican, Steve Chabot, in February 4. There are three sponsors from Democratic parties, and including Texas Sheila Lee Jackson consortium. HR 948 attempts to change the Sherman Act to make oil and its; describes illegal charters. Without OPEC. Similar bills have passed past a committee level, recently in the last Congress.

Convener Steve Chabot introduced legislation to make it more difficult for American companies to do business with OPEC. (Leigh Taylor / WCPO through AP, Pool) credit card: KEY STAFF

"It's not clear if this goes beyond the House or the Assembly," said Michael Cohen, economist with Barclays Capital in New York who sent a note on Thursday. "There is a co-selection of non-ever-changing interests between the Democrats who see this as a measure against the Saudi and the Trump itself that is on Opposition of OPEC for a long time. In a way the stars decided, "Cohen says.

The most recent version of this text typically exposes Damocles over the OPEC nations' clans and multi-agency groups; Do business there that could be involved in lawsuit if they keep the law.

This leaflet has a long way to become a law. But if it does, "it will be illegal and the breach of the Sherman Antitrust Act for any state related to a foreign country or instrument or any agent of a foreign state, to work together or with any other foreign state, any other device or device of any other foreign state, or any other person, whether it is in one quarter or any other company or form of cooperative or co-operation to restrict no restriction of oil, natural gas or any other petrol product; oil prices, natural gas, or any petroleum product is located or maintained, or restricts trade for oil, natural gas, or petroleum product Anything … if that activity … has a direct, substantive and reasonable impact on market, solar, price, or distribution of oil, natural gas or other petroleum products in the United States. "

It is hard to believe that OPEC can not be seen who will; creating countries, and OPEC-plus countries such as Russia and Kazakhstan, this is a danger to their most valuable materials.

At home, even oil lobbying, as represented by the American Petroleum Institute (API), is against it.

Michael Sommers, president and chief executive of the American Petroleum Institute. The OPEC may probably enjoy the oil co-op, but it is sure that this blow is # 39; hate. Photographer: Patrick T. Fallon / Bloomberg photo credit: © 2017 Bloomberg Finance LP© 2017 Bloomberg Finance LP

API has been facing anti-NOPEC opposition to members of the House of Commons Committees from August.

On 5 February, API sent a letter to the Bill's co-resignee and chairman of Councilor Jerrold Nadler (D-NY) and Doug Collins (R-Ga). The same letter was sentenced to the Judiciary chairman of Lindsey Graham (R-SC) and Dianne Feinstein (D-Calif). API President Mike Sommers wrote that they had seen it legislation as "creating a lot adversely affected USouth WesterlySSouth Westerly diplomatic, military and business interests and has little impact on it market driving campaigns. "

There are several commitments that this bill would be for full market. Barclays considers that this legislation would pass, it would threaten OPEC's sustainability and the OPEC-plus group , which could drag the floor out of oil prices.

Any food to move forward with this legislation depends on oil prices. Cohen from Barclays says that several questions have been raised by this bill. Some of them include whether the Jews would Keeping out more capacity if it's been exported to market stocking. OPEC members would be allowed to continue partnerships with US companies. if that legislation was made? And what are the dangers of the SAA companies if they have their partnerships with OPEC countries?

Khalid Al-Falih, Arabian energy minister and businessman, talked to reporters ahead of a meeting of the 175th Association of Petroleum Change Countries (OPEC) in Vienna, Austria, in December 2018. Photographer : Stefan Wermuth / Bloomberg photography credits: © 2018 Bloomberg Finance LP© 2018 Bloomberg Finance LP

There is one other side of this that Cohen did not, perhaps because of the fact that it's not so easy: what will it do? coming from the petrol? What is a stop from Saudi Arabia? oil prices in Chinese yuan for Asian markets?

"The legislation threatens major, non-visual effects for the US natural and oil gas industry and its continued success in the decline of OPEC's negative market effects," Sommers' writing.

U.S. oil oil production in recent years, helps to emphasize gasoline prices and low demand for pressures from OPEC representatives. After the 28th of April, a member of the OPEC member of Venezuela will be allowed to sell raw oil to the United States due to the continuing political crisis there. Sommers said partners with Mexico and Canada, combined with oil and gas growth, have helped the US itself from OPEC.

However, even though the US is not now entering its & # 39; Most of the raw oil needs, OPEC is still a global price seat.

Oil and oil coating companies have not been successful in getting Washington to see things on the road again. In 2014, Exxon did not confirm the Obama Administration to make it easier for the Russian oil company, Rosneft. Obama allowed Rosneft, who was crucial to kill $ 700 million co-operation of a $ 38 million co-operation with Exxon; company.


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