Financial Transparency Coalition

In the first Star Wars movie, Luke Skywalker and friends somehow blew up the Death Star. That’s a bit how we felt in 2010 when after years of fighting we got a new global financial transparency requirement into the Dodd-Frank Wall Street Reform Act. The provision requires oil, gas, and mining companies to disclose tax and other payments in every country of operation. As I’ve been writing about in the last two weeks, we now feel like we are in The Empire Strikes Back. The oil industry has threatened to sue the SEC if they don’t get a regulation...

Standing at the pump, watching the numbers tick away, do you ever wonder where the money goes? You're not alone: People on the other end of the pipeline are wondering too. While we feel the pinch in our pockets, citizens of oil-producing countries are often not seeing the profits.

Standing at the pump, watching the numbers tick away, do you ever wonder where the money goes? You're not alone: People on the other end of the pipeline are wondering too. While we feel the pinch in our pockets, citizens of oil-producing countries are often not seeing the profits.

The yawning gap between the transparency rhetoric of companies and the reality of their actions has never been more apparent than it is now.