Subscribe to our free daily newsletters
  Oil and Gas News from OilGasDaily.Com  




Subscribe to our free daily newsletters



OIL AND GAS
U.S. withdrawal from energy transparency group called strategic
by Daniel J. Graeber
Washington (UPI) Nov 6, 2017


Leaving a transparency initiative on fossil fuels was a mistake, advocates said, but Washington and a former Trump associate said the decision was strategic.

The U.S. Interior Department last week withdrew from the Extractive Industries Transparency Initiative, a body that seeks to find how revenue tied to the oil, gas and mineral resources sectors makes its way through member-state governments and economies.

In its letter of withdrawal, the department said it supports transparency mechanisms in principle, but had its own reporting standards that were the "new global standard in revenue governance transparency." Because EITI standards do not account for the U.S. legal framework, it was leaving the organization as an implementing country.

The U.S. government endorsed the EITI in 2004 and committed to its standards in 2011. When the EITI boards approved the U.S. application in 2014, it became the first member of the Group of 8 industrialized nations to achieve candidacy.

EITI Chairman Fredrik Reinfeldt said in a statement after the withdrawal notification that it was a step backward for the United States.

"Our work supports efforts to combat transnational crime and terrorist financing," he said. "It's important that resource-rich countries like the United States lead by example."

U.S. momentum as an oil and gas producer accelerated under former President Barack Obama. President Donald Trump has put fossil fuels at the top of his energy policies. Though Obama ended a ban on crude oil exports, the amount of U.S. oil leaving domestic shores has accelerated exponentially since Trump took office.

Republican leaders who support Trump's energy strategy have said steps taken since Ryan Zinke became the secretary of the Interior have positioned the United States as "an energy dominant superpower."

The four-week moving average for total U.S. oil production for the week ending Oct. 27 was 9.2 million barrels per day, up nearly 9 percent from the same period last year. U.S. crude oil exports for the same period are up 300 percent from last year.

U.S. crude oil is competitive in Asia with the type of oil exported by members of the Organization of Petroleum Exporting Countries. Natural gas, in the form of a super-cooled liquid form, and coal have made their way to the ports of former Soviet republics during the Trump administration, to the frustration of the Kremlin.

Healy E. Baumgardner, a global fossil fuel adviser at The 45 Group, former Trump campaign spokeswoman and the former press secretary for the Energy Department under President George W. Bush, told UPI the candidacy to EITI was short-sighted.

"Fossil fuels are critical to national security and energy independence, and pulling out of EITI smartly supports their expansion, competitiveness and ability to foster job growth and U.S. energy dominance at home and abroad," she said.

Canada, the No. 1 oil exporter to the United States, is not an EITI member, nor are most major OPEC members.

The U.S. decision to leave EITI came two days before the release of the so-called Paradise Papers. The more than 13 million records, leaked by Bermuda-based law firm Appleby to German newspaper Süddeutsche Zeitung and shared with the International Consortium of Investigative Journalists, allege to expose ties between world leaders and corporate giants. For the United States, the documents appear to show links between Trump Cabinet officials, donors and advisers, and offshore interests ranging from the Kremlin to foreign oil.

The documents show Commerce Secretary Wilbur Ross retains an interest in a shipping company, Navigator Holdings, which has business ties to Sibur, a Russian energy firm controlled by Gennady Timchenko, a Russian oligarch subject to U.S. sanctions, Russian President Vladimir Putin's son-in-law, Kirill Shamalov, and other members of the Russian president's inner circle.

U.S. Secretary of State Rex Tillerson, documents show, was tied to Yemeni oil and gas interests, which later became the subject of dispute in the international courts.

"The opacity of this administration goes beyond energy policy," Stefanie Ostfeld, the deputy head of the U.S. office of Global Witness, told UPI. "You can draw a direct line from the president and Secretary Tillerson refusing to release their tax returns to Exxon and Chevron refusing to declare their U.S. tax payments though EITI, which led the administration to pull out of a global anti-corruption program for oil and gas companies."

Andrew Holland, a senior fellow for energy and climate at the American Security Project, added that U.S. oil companies are some of the best in the world and shouldn't have to "bribe their way" toward contracts. The EITI move, as well as similar actions, sets the industry up to look corrupt, he said.

In its letter last week, the U.S. Interior Department said participating in EITI helped the government initiate open data on natural resources and their revenue streams. Despite leaving the initiative, the government said it was a strong supporter of good governance.

"While in concept preventing corruption in global fossil fuels is admirable, they are what determine power, politically and physically, across the globe," Baumgardner said.

OIL AND GAS
No letup in Juba standoff around ex-army chief's home
Juba (AFP) Nov 5, 2017
Troops remained deployed around the home of South Sudan's powerful former army chief Paul Malong on Sunday in a dispute over the fate of his 30 bodyguards, an army spokesman told AFP. The standoff began on Friday evening when more than 100 soldiers surrounded his residence in central Juba, South Sudan's capital, in a move which prompted people to flee to their homes for fear the standoff wo ... read more

Related Links
All About Oil and Gas News at OilGasDaily.com


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

OIL AND GAS
Penn researchers mimic giant clams to enhance the production of biofuel

Research aims to help renewable jet fuel take flight

Expanding Brazilian sugarcane could dent global CO2 emissions

Stiff fibers spun from slime

OIL AND GAS
OMCO Solar expands to met demand for field-fast racking systems

No tariffs, U.S. solar industry leaders say

European lender closer to green finance goals

US renewable energy booms despite Trump vow to quit Paris deal

OIL AND GAS
New York sets high bar for wind energy

Construction to begin on $160 million Industry Leading Hybrid Renewable Energy Project

A kite that might fly

Scotland outreach to Canada yields wind energy investment

OIL AND GAS
Rutgers-led research could revolutionize nuclear waste reprocessing and save money

Bulgaria extends life of Soviet-era nuclear reactor

South Korea to push ahead with nuclear power plants

AREVA NP awarded contract for safety upgrades in seven reactors

OIL AND GAS
Shortfall in climate action is 'catastrophic': UN

Tiny chip-based methane spectrometer could help reduce greenhouse gas emissions

At climate talks, it's America alone more than America first

A drier south: Europe's drought trends match climate change projections

OIL AND GAS
Texas applauds free-market move on electric vehicles

Tesla slides on murky outlook for fixing Model 3 production woes

Investors fuel a multibillion-dollar ride-sharing frenzy

Energy firms back investment into diesel engine

OIL AND GAS
Iraq to hold parliamentary election in May: PM

IS executed 741 civilians during Mosul battle: UN

Iraqi forces advance to edge of final IS bastion Al-Qaim

Saudi Airlines to operate first Baghdad flight in 27 years

OIL AND GAS
N. Korea slams 'incurably mentally deranged' Trump

South Korea will not develop nuclear weapons: president

Putin visits Tehran for talks on Syria, nuclear deal

EU, Japan ask UN to condemn N. Korea over rights abuses




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News






The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement