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Oil Company Lawsuit Against US Securities and Exchange Commission Threatens Global Transparency Initiative
[W]e are extremely disappointed that the American Petroleum Institute...along with the U.S. Chamber of Commerce and others, has filed a lawsuit against the United States Securities and Exchange Commission, seeking to overturn oil and mineral payment disclosure legislation...The...credibility of the EITI [Extractive Industries Transparency Initiative] [is] jeopardized if the same companies negotiating EITI disclosure standards...support a lawsuit that seeks to overturn U.S. payment disclosure legislation and regulation intended to strengthen the EITI standard...Publish What You Pay United States calls on [companies]...make public their positions [on the lawsuit to overturn United States transparency law and regulations as well as on the specific proposals for improvements to the EITI standard under negotiation] by Friday, October 26, 2012. [refers to Chevron, ExxonMobil, Royal Dutch Shell, BP and Statoil]