Petroleum Moratorium Act

Summary

Petroleum Moratorium Act - States that no person directly or indirectly engaged in the production of crude petroleum who possesses a major market share shall (1) control either directly or indirectly any pipeline or refinery which, on the effective date of this Act is controlled by any person who does not possess a major market share; or (2) operate either directly or indirectly any out- let which, on the effective date of this Act, is not operated by such person, or any subsidiary corporation or salaried employee of such person. States that a knowing violation of this provision shall be punished by a fine of not exceeding $100,000 or by imprisonment for not exceeding ten years, or both. Directs the Federal Trade Commission, the Attorney General, the Secretary of the Interior, the Director of the Federal Energy Office (or any successor office), the Secretary of Commerce, the Comptroller General, and the Director of the Office of Consumer Affairs to each undertake a study of the actions which may be required to preserve and enhance competition in the production, refining, transportation, and marketing of petroleum and petroleum products in the United States.

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1 official file

• Introduced in Senate

  summary · EN · 6 May 1974

  Open at official source

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