A bill to regulate commerce prohibiting certain combinations among persons engaged in commerce relating to energy.

Summary

Limits the ownership and control of assets related to the business of producing, transporting, refining, and marketing of energy resource products. States that it shall be unlawful after the date of enactment of this Act for any person engaged in commerce in the business of: (1) extracting energy resource products to acquire any energy pipeline asset, energy refinery asset, or energy marketing asset; (2) transporting energy resource products by pipeline to acquire any resource product extraction asset, energy refinery asset, or energy marketing asset; (3) refining energy resource products to acquire any energy resource product extraction asset, energy pipeline asset, or energy marketing asset; or (4) marketing energy resource products to acquire any energy resource product extraction asset, energy pipeline asset, or energy refinery asset. Requires reports of persons engaged in commerce owning or controlling, on the date of enactment of this Act, assets covered by this Act. Provides 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, or in the case of a corporation, by a fine of not to exceed $5,000,000 or by suspension of the right to do business in interstate commerce for a period not to exceed ten years, or both. Provides that a violation by a corporation shall be deemed to be also a violation by the individual directors, officers, receivers, trustees, or agents of such corporation who shall have authorized, ordered, or done any of the acts constituting the violation in whole or in part, or who shall have omitted to authorize, order, or do any acts which would terminate, prevent, or correct conduct violative of this Act. Provides that failure to obey any order of the court pursuant to this Act shall be punishable by such court as a contempt of court.

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1 official file

• Introduced in House

  summary · EN · 4 February 1974

  Open at official source

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