Both E&E News and Bloomberg BNA recently published articles on an American Security Project Perspective Paper entitled Alleviating the Resource Curse. The Paper is principally concerned with how best to design new Dodd-Frank regulations on transparency in resource extraction.
The E&E News report emphasized ASP’s recommendation to build upon the regulatory framework initially proposed by the American Petroleum Institute, but to add the requirement that the names of particular companies be disclosed.
“ASP says the situation presents the United States with an opportunity to lead. But if the SEC goes along with not disclosing the names of companies making payments, then it will have missed that opportunity, according to the report, titled ‘Alleviating the Resource Curse.’”
Conversely, the report released by Bloomberg BNA placed more emphasis on ASP’s recommendation to explicitly define what constitutes a ‘project.’
“The group urged the SEC to focus on three attributes in trying to define what constitutes a ‘‘project’’:
What resource is being extracted?
How is the resource developed? and
Where is the development taking place?”
Read the full report here.