8.11.2010

Bonus gem

As the Wall Street Journal so sassily reports:

"U.S. energy companies are steaming about a disclosure rule added at the last minute to the new financial regulation law requiring companies to disclose their payments to foreign governments."

And what is the rule, exactly?

"The provision in the Dodd-Frank law compels companies to reveal royalties, bonuses and other payments to governments for the 'commercial development of oil, natural gas or minerals.'"

A basic, much-needed step towards acknowledging the profoundly global impact of American energy companies. So what's the problem?

"The companies say complying with the rule could hamper business."

Wow.

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