Oil industry lobbying regarding section 1504 of Dodd-Frank Wall Street Reform Act (USA): Concerns, company responses
In February 2012 several NGOs raised concerns about oil industry lobbying to change the wording of Section 1504 of the Dodd-Frank Act in the USA. Section 1504 requires extractive companies to disclose their tax, royalty and other payments to governments.
Business & Human Rights Resource Centre invited the American Petroleum Institute and the companies mentioned in the following items to respond (see below for responses / non-responses, and then a rejoinder by Revenue Watch):
- “The transparent hypocrisy of big oil,” Oxfam America, 9 Feb 2012
- “Oil industry must stop supporting secrecy,” Revenue Watch, 13 Feb 2012
- Petition: “Tell big oil companies – it’s time to come clean,” Oxfam America
Company responses / non-responses
Chevron did not respond.
ExxonMobil response [DOC]. ExxonMobil also pointed to the following two articles: "SEC Oil Rule Jeopardizes US Competitiveness" and "Dodd-Frank Handicaps US Oil Companies, Favors, Russia China And Chavez"
Marathon Oil said that its position is aligned with that of the American Petroleum Institute
Occidental said that it supports the position of the American Petroleum Institute