Quantcast

It's Official: Trump Gives Big Gift to Big Oil

President Trump signed his first Congressional Review Act-sponsored bill (CRA) Tuesday, declaring at the signing that "energy jobs are coming back" and "lots of people [are] going back to work now."

The legislation, in fact, doesn't deal directly with jobs, but rather repeals a Dodd-Frank rule requiring extraction companies to disclose payments made to foreign governments—a regulation Trump's new Sec. of State Rex Tillerson lobbied against as CEO of ExxonMobil.

Some in the GOP may have a bit of buyer's remorse about the bill: a group of senators who voted for the resolution sent a letter to the U.S. Securities and Exchange Commission earlier this month asking the agency to create a new version of the rule and supporting any "legislative or other solutions" to address limits imposed by the CRA.

"The U.S. had been at the forefront on the transparency issue, with more than 30 countries following in its footsteps to pass similar legislation," said Isabel Munilla of Oxfam International in a statement after the House initially voted to kill the rule. "State-owned companies from Brazil, China and Russia are all now required to disclose their payments. If the Senate follows suit in overturning this rule, the U.S. will go from a leader into a laggard."

For a deeper dive:

News: Washington Post, The Hill

Commentary: Vox, Brad Plumer analysis

For more climate change and clean energy news, you can follow Climate Nexus on Twitter and Facebook, and sign up for daily Hot News.

Sponsored
zeljkosantrac / E+ / Getty Images

Medically reviewed by Hrefna Palsdottir, MS

Oats are considered to be one of the healthiest grains on earth. Find out why and how to incorporate this breakfast staple into your morning routine.

Read More Show Less
Youth activists ages 11-18 learn to fight plastic pollution at the inaugural Ocean Heroes Bootcamp. Ocean Heroes Bootcamp

By 2018 Ocean Heroes: Claire MacQueen (13 years old), Sabine Thomas (13) and Ava Inskeep (14)

We despise single-use plastics. We want to keep our oceans and our beaches clean. Early last year I (Claire) lived in India for several months and became curious about plastic waste, as it was much more visible in India than back home in the U.S. Seeing all the plastic waste while I was visiting helped me to understand that much of the trash produced by the U.S. actually ends up in developing countries, like India, which does not have a proper waste management system like we do at home, which causes a ton of trash to end up in waterways and the ocean.

Read More Show Less
Sponsored
Sen. Bernie Sanders speaks at a Martin Luther King Jr. Day event in South Carolina on Jan. 21. Sean Rayford / Getty Images

Independent Vermont Sen. Bernie Sanders announced Tuesday that he will run for president in 2020, becoming the latest candidate in a crowded Democratic primary field to promise a Green New Deal if elected, The Washington Post reported.

Read More Show Less
Degraded coral reefs at Kahekili Beach Park in west Maui, Hawaii. Peter Swarzenski / Usgs

In a case watched closely both by polluting industries and clean water advocates across the nation, the U.S. Supreme Court agreed to take up an appeal of a Clean Water Act case out of Hawaii concerning treated sewage flowing into the Pacific Ocean from injection wells.

Read More Show Less
A woman works at a distrubiton station at the 855,000-square-foot Amazon fulfillment center in Staten Island, one of the five boroughs of New York City, on Feb. 5. JOHANNES EISELE / AFP / Getty Images

Amazon will strive to cut carbon emissions from its shipments in half by 2030, the e-commerce giant said Monday. The retailer's plan calls for an increase in the use of electric delivery vehicles and renewable energy as well as pressuring suppliers to use less packaging.

Read More Show Less