facebook
twitter
rss
account
search
search
 

Rights group claims win over U.S. oil

April 29, 2013 at 9:01 AM   |   Comments

WASHINGTON, April 29 (UPI) -- A decision by a circuit court of appeals regarding disclosure issues tied to the oil industry and governments is a victory, Earthrights International said.

Earthrights International hailed a decision from the D.C. Circuit Court of Appeals that said the American Petroleum Institute can't pursue its case against the Securities and Exchange Commission in appellate courts.

API takes issued with U.S. legislation that requires those in the extractive industry to disclose payments they've made to the governments that host their exploratory campaigns.

API filed suit against the SEC in October. ERI intervened on behalf of Oxfam America.

"The upshot of the D.C. Circuit's decision is that after six months of litigation, API must start over, in the district court," Earthrights International said.

The SEC ruled last year that oil and natural gas companies must disclose said payments. The legislation in question is the so-called Cardin-Lugar provision of the 2010 Dodd-Frank Wall Street reform act.

In the past, the API said it considered some provisions of the Dodd-Frank Act to be a violation of free-speech protections in the U.S. Constitution. It issued no statement on the D.C. Circuit Court's ruling.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Freedom variant LCS takes to water Freedom variant LCS takes to water
2
Iraq seeks thousands of tank rounds Iraq seeks thousands of tank rounds
3
MDA demos tracking, targeting capability of Aegis MDA demos tracking, targeting capability of Aegis
4
Australia upgrading Tiger helos; receives MH-60R from U.S. Australia upgrading Tiger helos; receives MH-60R from U.S.
5
CNN absent from the Dish Network lineup CNN absent from the Dish Network lineup
Trending News
Around the Web
x
Feedback