OPEC Accountability Act

The OPEC Accountability Act would require the President to enter into formal negotiations with several oil-producing nations to end practices that limit the supply or control the price of petroleum products. If these consultations fail to stop actions that restrict trade or burden the U.S. economy, the bill mandates that the U.S. Trade Representative initiate dispute proceedings through the World Trade Organization (WTO).

For everyday citizens, this legislation aims to lower domestic energy costs by using international trade laws to challenge production quotas set by foreign nations. By targeting artificial limits on oil and gas supplies, the bill seeks to reduce volatility and high prices at the gas pump and for home heating.