Suing Over the Price of Gas
The Organization of Petroleum Exporting Countries (OPEC) was established in 1960 “to ensure the stabilization of prices by, among other means, the regulation of production.” On one level, OPEC is simply a cartel engaged in anticompetitive behavior. On another level, it is an organization of nation-states that plays a significant role in world politics. Since…
Continue ReadingThrowback Thursday: International Association of Machinists v. OPEC
In 1978, the International Association of Machinists (IAM), a labor union, sued OPEC and its member countries for violating U.S. antitrust law by operating a cartel. The district court held that OPEC countries were immune from suit under the Foreign Sovereign Immunities Act (FSIA). On appeal the Ninth Circuit affirmed the district court’s dismissal on…
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