The Hill News

As the start date for new SEC rules for oil, gas and mining disclosure approaches, the oil industry is fighting a rearguard action to water down the Dodd-Frank provisions, which require registered companies to report payments made to governments for oil and mineral extraction.



In commentary on this blog Monday, the oil industry’s U.S. lobby, the American Petroleum Institute (API), praised the statute's "laudable goal" of "providing the citizens of resource-rich, developing countries with the information they need to hold their governments accountable."



Unfortunately, the rest of this entry was given over to scare tactics about the supposed dangers of better company reporting. API’s Ms. McGowen writes of the ‘threat’ of “unforeseen consequences” of the new law, invoking the jarring image of a Doberman pinscher mauling hundreds of teddy bears.



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