EG Justice and other members of the Publish What You Pay coalition have taken out a full page ad in the Wall Street Journal to press oil companies to stop lobbying against transparency.
EG Justice and other members of the Publish What You Pay coalition are running a full-page advertisement in the Washington DC edition of the Wall Street Journal. The ad highlights the lobbying that many oil companies are engaging in to convince Securities and Exchange Commission to issue weak rules to enforce Section 1504 of the Dodd-Frank Act, a piece of legislation signed into law in July 2010. Section 1504 is intended to increase transparency by requiring oil, gas, and mining companies to publish information about the revenues they pay governments for the extraction of resources. This will represent an important first step in the effort to curb corruption and to increase government accountability in some of the world's poorest and most corrupt countries.