Energy Industry Competition Act

Summary

Energy Industry Competition Act - Makes it unlawful for any person engaged in commerce in the business of extracting, refining, marketing, or transporting by pipeline any resources product to acquire any assets of the other three aforementioned businesses. Requires the Attorney General and the Federal Trade Commission to simultaneously and independently examine the relationship of persons now engaged in one or more branches of the energy industry. Directs the Attorney General and the Federal Trade Commission to institute suits in the district courts of the United States requesting the issuance of such relief as is appropriate under this Act. States that any person who knowingly violates any provision of this Act shall, upon conviction, be punished, in the case of an individual, by a fine of not to exceed $500,000 or by imprisonment for a period not to exceed ten years, or both. Stipulates that the penalty for violation of this Act by a corporation shall be a fine not to exceed $5,000,000 or a suspension of the right to do business in interstate commerce for a period not to exceed ten years, or both.

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1 official file

• Introduced in House

  summary · EN · 26 September 1973

  Open at official source

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