February 10, 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.
My Comment:
Having vast resources of oil within the borders of one's country holds the potential of being a huge blessing OR a dire curse to its peoples. Most frequently the net result it becomes a curse because back-room deals between Big Oil and oligarchic leaders siphon off all profits, leaving the citizenry more destitute than if the resource didn't even exist. This need not occur--and cannot provided adequate transparency compelled by the SEC.
Eddie Griffiths