Abstract
The author presents an introduction to and a cautionary warning about the idiosyncrasies, complexities and dangers of U.S. antitrust law for the Canadian oil and gas industry in a post-NAFTA economic and legal reality. Pre-NAFTA transborder Canadian rules, customs and business practices in the oil and gas industry may have to be reconsidered in light of the serious implications of U.S. antitrust jurisprudence to date. The reach and the scope of U.S. Title 15 Trade and Commerce legislation, such as the Sherman Act, the Clayton Act, the Robinson-Patman Act, the Federal Trade Commission Act, the Foreign Trade Antitrust Improvements Act, and the Hart-Scott-Rodino Act, are outlined and presented. The author also describes the powers and authority of the United States Department of Justice, the United States Federal Trade Commission, the state attorneys general, and the "private" attorneys general to launch civil actions, class actions and criminal prosecutions serially, concurrently or in combination should an unwary foreign or domestic person run afoul of US. antitrust law. In addition, the author discusses the relevant leading case law, legal tests and legal principles, remedies, penalties, consequences and pitfalls of U.S. antitrust law.
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