February 9, 2012
Dear SEC Commissioners,
Please do not give in to industry pressures on Section 1504 of the Dodd-Frank Act (the Cardin-Lugar Amendment) - and make sure that ALL companies are covered, every country and every project gets reported, and loopholes that would allow large sums of money to go unreported are closed.
Two years ago, me and ONE members helped win a hard fought battle to make sure that big oil companies - by law - must reveal what they pay. But now, oil company lobbyists are pressuring you, the Securities and Exchange Commission to secretly kill the best parts of the law and keep these deals hidden. Please do not allow this to happen. Some of these people were born and grew up in a dictatorship. That’s they've spent much of their lives fighting corruption. they've seen friends beaten. They’ve seen people jailed for calling out their leaders. Africans cannot win this fight alone. Equatorial Guinea is blessed with oil. But more than 70% of their people live in extreme poverty - even with this multi-billion dollar treasure. Why? Because oil companies make secret deals with the government, enabling corrupt leaders to put billions into their own pockets. Put a stop to this... Keane U. Posner