Bipartisan Bill Proposes Simple SEC Rule Change to Help Stabilize U.S. Energy Sources and Raw Materials

Bipartisan Bill Proposes Simple SEC Rule Change to Help Stabilize U.S. Energy Sources and Raw Materials

September 23, 2009
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Oil, gas, and mineral companies can reduce global instability by opening the books on their payments, say investors, industry experts, and human rights advocates.

(Washington, DC, September 23, 2009)—The “Energy Security through Transparency Act of 2009,” introduced today by Senators Richard Lugar (R-IN) and Ben Cardin (D-MD), would require energy and mining companies to reveal how much they pay to foreign countries and the U.S. government for oil, gas, coal, and other minerals. Senator Charles Schumer, (D-NY), member of the Banking Committee, introduced a similar bill last year and is an original co-sponsor of the ESTT Act along with Senators Roger Wicker (R-MS) and Russ Feingold (D- WI).

EG Justice is happy about its collaboration with the Publish What You Pay coalition to advance transparency in the extractive industries. The Energy Security through Transparency Act will play a vital role in helping to eradicate poverty in resource-rich nations, by exposing high-level corruption and mismanagement of revenues from natural resources.

Read the Press Release by the Publish What You Pay Coalition

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