A bill to cancel Federal oil and gas leases held by persons that manipulate the market price of oil or gas in violation of Federal law, and for other purposes.

In this section:

The term Federal oil and gas lease means an oil and gas lease issued or authorized by the Secretary of the Interior pursuant to applicable Federal law.

The term OPEC country means Algeria, the Democratic Republic of Congo, Equatorial Guinea, Gabon, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, United Arab Emirates, or Venezuela.

The term OPEC plus country means Azerbaijan, Bahrain, Brunei, Kazakhstan, Malaysia, Mexico, Oman, Russia, South Sudan, or Sudan.

If the Federal Trade Commission issues a final order that finds that a person that holds a Federal oil and gas lease coordinated with an OPEC country or an OPEC plus country to manipulate the market price of oil or gas in violation of section 1 of the Sherman Act (15 U.S.C. 1) or the Clayton Act (15 U.S.C. 12 et seq.)—

(1) the Secretary of the Interior shall, to the extent allowable by law—

(A) cancel each Federal oil and gas lease held by that person; and

(B) not renew or extend any Federal oil and gas lease held by that person; and

(2) that person may not bid on any Federal oil and gas lease beginning on the date on which the Federal Trade Commission issues the final order.