'Disappointing, Backwards Step': Critics Blast U.S. Exit From Global Oil, Gas Anti-Corruption Effor
Source: egoWatch.com
Lorraine Chow
46m
The Trump administration has withdrawn from the Extractive Industries Transparency Initiative (EITI), an international anti-corruption initiative that requires member nations to report their oil, gas and mineral revenues, and for such extractive companies to report payments made to obtain these publicly owned natural resources.
The EITI Standard is implemented in about 50 countries around the world and provides the public information about how much government leaders receive in taxes, royalties and lease payments from such natural resource companies, as Bloomberg explained. For instance, this information would help ensure that revenue goes towards building or fixing roads and schools, rather than hiding away in foreign bank accounts.
This is a disappointing, backwards step," EITI Chair Fredrik Reinfeldt said. The EITI is making important gains in global efforts to address corruption and illicit financial flows. Our work supports efforts to combat transnational crime and terrorist financing. It's important that resource-rich countries like the United States lead by example. This decision sends the wrong signal."
Gregory J. Gould, the director of the U.S. Office of Natural Resources Revenue, sent a letter to the EITI board on Thursday saying the decision was effective immediately."
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Read more: https://www.ecowatch.com/disappointing-backwards-step-critics-blast-u-s-exit-from-global-oil-gas-anti-corruption-effort-2505846330.html
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Maxheader
(4,373 posts)A fox in every hen house...
ChicagoRonin
(630 posts)[link:
|Achilleaze
(15,543 posts)republicans* are not only crapping on America and the world, they are also crapping on their own children and grandchildren. Sick. Sick and sad.
* under the "leadership" of Comrade Casino, deceitful republican Draft-Dodger-in-Chief.
catbyte
(34,402 posts)I wonder what took them this long, seeing how the entire administration is a wholly-owned subsidiary of Rosneft & Putin, Inc.
Bernardo de La Paz
(49,002 posts)lark
(23,105 posts)Now if it was how to steal $ from the energy sector for personal profit, now that they'd support 100%. Only they'd never ever be truthful about anything they do.