Oil Price Reduction Act of 2000
| Date | Chamber | What was voted on | Result | Yes–No | |
|---|---|---|---|---|---|
| Mar 23, 2000 | House · vote #65 | On Passage | Passed | 382–38 | See who voted → |
Directs the President to report to Congress with respect to: (1) the overall economic and security relationship between the United States and each major net oil exporting country (including Organization of Petroleum Exporting Countries (OPEC)); (2) the effect that coordination among such countries with respect to oil production and pricing has had on the U.S. economy and global energy supplies; (3) information on all assistance provided to such countries under the Foreign Assistance Act of 1961 and the Arms Export Control Act (including licenses for the export of defense articles and defense services); and (4) the President's determination as to whether or not each such country is engaging in oil price fixing to the detriment of the U.S. economy. Requires the President to reduce, suspend, or terminate such assistance to each country determined to be engaged in oil price fixing to the detriment of the U.S. economy.
Expresses the sense of Congress that the United States should continue to undertake a diplomatic campaign to convince : (1) all major net oil exporting countries that the current oil price levels are unsustainable and will negatively affect global economic growth rates in oil consuming and developing countries; and (2) other major net oil importing countries to join in multilateral efforts to bring about the complete dismantlement of international oil price fixing arrangements. Requires the President to report to Congress with respect to such diplomatic efforts.
Received in the Senate and Read twice and referred to the Committee on Foreign Relations.