Transparency Initiative Fuels Oil Lobby Against SEC Rule

Law360, New York (October 3, 2011, 1:42 PM EDT) -- The Obama administration's recent move to join the international Extractive Industry Transparency Initiative has provided the oil and gas industry with an unlikely avenue of attack in a lobbying campaign against the U.S. Securities and Exchange Commission's proposed project-level financial reporting rule, experts say.

The U.S. announced on Sept. 20 that it would become the first G8 nation to fully join the EITI, which requires companies and governments to publish payments that oil and gas companies make to governments for access to resources. The EITI rules...
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