Trump signs repeal of transparency rule for oil companies

[herding cats]

Source: the Hill

President Trump signed legislation Tuesday to repeal a controversial regulation that would have required energy companies to disclose their payments to foreign governments.

The legislation is the first time in 16 years that the Congressional Review Act (CRA) has been used to repeal a regulation, and only the second time in the two decades that act has been law.

It is the start of one front in an aggressive deregulatory effort that the Trump administration and the GOP Congress are undertaking to roll back Obama-era rules on fossil fuel companies, financial institutions and other businesses that they say have suffered for the last eight years.

The resolution repeals a Securities and Exchange Commission (SEC) rule written under the 2010 Dodd-Frank financial reform law.

It was meant to fight corruption in resource-rich countries by mandating that companies on United States stock exchanges disclose the royalties and other payments that oil, natural gas, coal and mineral companies make to governments.



Read more: http://thehill.com/policy/energy-environment/319488-trump-signs-repeal-of-transparency-rule-for-oil-companies

[pbmus]

1. Ok, now I understand...

This was payback for Russia and paving way for Mobil exxon to grease those slimy palms in Russia ...

[Hula Popper]

2. lets not

forget the fucking slimy hands in this country!

[politicat]

12. Koch money is oil money

And there's a link between the Rosnaft 19.5% shell companies, Blackstone private equity, Glencore holdings and the Kochs. It's not a clear-cut connection, but the circumstantial evidence keeps mounting.

Oil is the global addiction, and the pushers aren't content with their cut.

[procon]

3. Trump, making transparency great again,

for crooks, liars and thieves. Trump's idea of swamp draining is missing something key element...

[mpcamb]

8. This is a direct paycheck to the Koch brothers empire.

And it's payback for all the subversive lobby money they sent his way.

[njhoneybadger]

4. How convenient for Putin and American oil companies

[mr_lebowski]

5. Welp, chalk another one up for the Forces of Satan

Like it was just SOOOO burdensome for these companies to report money they give to foreign governments. Hell, they probably don't even write 'em down anywhere, they don't have 'accountants' or other folks 'tracking expenditures' at OIL Companies, nope, nosirree. What a joke.

Hey, I thought you rubes sent Drumpf to DC to 'drain the swamp'? Instead, he installs uber-rich "Exxon Rex" as SoS, and does EXACTLY what the oil company lobbyists (note: the very definition of SPECIAL INTERESTS) have been begging for ... despite the fact that it's way past obvious that the reason they're asking for this to be repealed is so they can BRIBE foreign governments. Drumpf & the GOP Congress are legalizing corruption here, plain and simple.

And if you think getting rid of this rule is going to 'create US jobs' ... then I got a bridge to sell you ...

Here's something else ... when the citizens of these countries find out their tin-pot dictator is lining his pockets by selling off their birthright for pennies on the dollar to some conglomerate, you can bet they wont be too happy. And you know what that means? It means Drumpf and Exxon-Rex ordering our men and women to suit up to go fight said 'rebels' to protect 'our' oil fields ... in Africa.

But hey, at least you'll have those 'soldiering' jobs to look forward to ...

[joet67]

6. This is part and parcel to the treasonous activity going on... nt

[myrna minx]

7. Now it's all making sense...

[dalton99a]

9. There is so much to hide.

[TomCADem]

10. So, What Was That About Hillary Lacking Transparency?

Or, being beholden to corporations?

[herding cats]

11. I can't agree enough.

Not that it matters at this point, but I wanted to lend you my support.

I'm so angry right now and it's not like me to succumb to my anger. Yet, I am, and I have.

Look what's taking place here, right now in real time. All of this was avoidable. I'm so disgusted with American voters.