Judge throws out rule forcing oil and mining companies to disclose payments to foreign governments

FacebookTwitterRedditDiggStumbleUponTumblrLinkedInPinterestEmailShare

that's oil folks smaller

Gee, what a surprise: A victory for Big Oil.

Via The Hill:

A federal judge on Tuesday threw out a controversial Securities and Exchange Commission rule that would force oil and mining companies to disclose payments to foreign governments.

The decision is a victory for oil industry and business groups that claim the requirements would have imposed costly burdens and forced disclosure of commercially sensitive information. [...]

The decision is a defeat for human rights groups, who say the rule provides “transparency” that can help prevent corruption and ensure the public benefits from energy development in Africa and elsewhere.

The rule was required under the 2010 Dodd-Frank law, and the American Petroleum Institute (API) and Chamber of Commerce couldn't be happier that it was tossed.

It's safe to say that this time around, the GOP won't refer to the decision as judicial activism.

FacebookTwitterRedditDiggStumbleUponTumblrLinkedInPinterestEmailShare
  • http://leftcoastoracle.blogspot.com LeftCoastOracle

    Oh, Duh... Thanks, Laffy :/

  • http://thepoliticalcarnival.net/ GottaLaff

    Just click on the link I provided for The Hill.

  • http://leftcoastoracle.blogspot.com LeftCoastOracle

    Does anyone know which judge made this ruling and on what basis?