Oil Independence Act of 1979

Summary

Oil Independence Act of 1979 - Prohibits specified producers, transporters, refiners, and marketers of crude oil, natural gas, and related products from acquiring control of any business which is not directly related to the petroleum industry. Requires such entities to provide information and reports, upon request, to the Federal Trade Commission (FTC). Empowers the FTC to enforce this Act in the district courts of the United States. Establishes civil and criminal penalties for violations. Terminates such prohibition on unrelated acquisitions once the Secretary of Energy determines that for a period of 15 consecutive months, domestic production has satisfied 80 percent of the requirements of the United States for crude oil, natural gas, and petroleum products (including synthetic fuels and feedstocks).

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Timeline

1. 13 December 1979

   Introduced

   Referred to House Committee on Interstate and Foreign Commerce.

   Source: IntroReferral

2. 13 December 1979

   Introduced

   Introduced in House

   Source: IntroReferral

3. 13 December 1979

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 13 December 1979

  Open at official source

Sponsors

• Rep. Leach, James A. [R-IA-1] · R · Sponsor
• · hsju00 · Standing
• · hsif00 · Standing

Related records

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