United States Commission on the Organization of Petroleum Exporting Countries Act of 2016
This bill establishes the United States Commission on the Organization of Petroleum Exporting Countries (OPEC) to investigate and address any practices on the part of OPEC that prevent or reduce competition in the global oil market.
The Commission shall be composed of a bipartisan group of 16 experts on energy and related matters chosen by the leadership of both parties in Congress and appointed by the President. All members of the Commission must be U.S. citizens.
The bill requires the Commission to:
determine whether the anti-competitive behavior of OPEC is designed to disadvantage U.S. oil producers; assess the impact of OPEC's policies on U.S. economic and energy security interests; assess how federal agencies are working to alleviate the potential negative impacts of OPEC's behavior; and produce policy recommendations for tax, trade, defense, diplomacy, and other areas where OPEC's behavior is found to cause adverse impacts. The Commission must submit a report of its findings and recommendations to Congress and the President within 12 months. The Commission shall terminate within 90 days after submission of its report. On receipt of the Commission's report, the President will have 90 days to submit Congress a proposal to implement or respond to the recommendations.
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