COLUMN-NOPEC bills provide useful leverage for the White House: Kemp | Reuters:
For a proposed statute still at the first stage of the legislative process, with only a handful of sponsors in the U.S. Congress, the “No Oil Producing and Exporting Countries Act of 2019” (NOPEC) is generating a lot of comment.
The amount of attention being paid to the proposed legislation is out of all proportion to its probability of being enacted into law - unless oil prices spike higher at some point during the remainder of 2019 and 2020.
Similar NOPEC bills were introduced into the House of Representatives (HR 948) and the Senate (S 370) early last month, where they were referred to the respective judiciary committees for detailed consideration.
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