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Bladewire · 02-01-2017, 08:22 PM

Yep! The day Exxons Tillerson is sworn in Republicans in congress are working to make it LEGAL for Exxon to hide payments to Russia! Imagine that

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Tillerson argued that forcing U.S. oil firms to reveal corporate secrets?such as paying foreign governments?would put them at a competitive disadvantage. He also explained that the provision would make it especially difficult for Exxon to do business in Russia, where, as he did not need to explain, the government takes a rather active interest in the oil industry. But Lugar believed greater transparency could help alleviate the ?resource curse? of corruption that plagues so many mineral-rich countries, so he told Tillerson they would have to agree to disagree. Section 1504 stayed in the bill, the bill became law, and the disclosure requirement became an international example: France, Canada and the United Kingdom all went on to use it as a model for similar rules.

Today, seven years later, Republicans confirmed Tillerson as President Trump?s Secretary of State, despite allegations that he?s too cozy with Russia. At the same time, the GOP is preparing to try to kill the disclosure rule created under Section 1504, despite warnings from international aid groups that the move would provide a wink-and-nod blessing to hidden corporate payments to petro-thugs. The House is expected to act this afternoon, and since the move relies on a special mechanism for reversing rules enacted late in a presidential term, Senate Republicans will need a mere majority rather than a filibuster-proof 60 votes to follow suit.

Rex Tillerson Tried to Get This Rule Killed. Now Congress Is About To Do It For Him - POLITICO Magazine

02-01-2017, 08:22 PM
Bladewire StraightBro Industry Role: Join Date: Aug 2003 Location: Monarch Beach, CA USA Posts: 56,232	Congress to make oil companies hiding payments to foreign countries LEGAL Yep! The day Exxons Tillerson is sworn in Republicans in congress are working to make it LEGAL for Exxon to hide payments to Russia! Imagine that --- Tillerson argued that forcing U.S. oil firms to reveal corporate secrets?such as paying foreign governments?would put them at a competitive disadvantage. He also explained that the provision would make it especially difficult for Exxon to do business in Russia, where, as he did not need to explain, the government takes a rather active interest in the oil industry. But Lugar believed greater transparency could help alleviate the ?resource curse? of corruption that plagues so many mineral-rich countries, so he told Tillerson they would have to agree to disagree. Section 1504 stayed in the bill, the bill became law, and the disclosure requirement became an international example: France, Canada and the United Kingdom all went on to use it as a model for similar rules. Today, seven years later, Republicans confirmed Tillerson as President Trump?s Secretary of State, despite allegations that he?s too cozy with Russia. At the same time, the GOP is preparing to try to kill the disclosure rule created under Section 1504, despite warnings from international aid groups that the move would provide a wink-and-nod blessing to hidden corporate payments to petro-thugs. The House is expected to act this afternoon, and since the move relies on a special mechanism for reversing rules enacted late in a presidential term, Senate Republicans will need a mere majority rather than a filibuster-proof 60 votes to follow suit. Rex Tillerson Tried to Get This Rule Killed. Now Congress Is About To Do It For Him - POLITICO Magazine