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2016-06-29 18:20:00

HARM U.S. JOBS

HARM U.S. JOBS

 

USA OIL PRODUCTION 2014 - 2017

 

API Director of Tax and Accounting Policy Stephen Comstock said the U.S. Securities and Exchange Commission's new rule to implement Section 1504 of the Dodd-Frank Act fails to strike the right balance between informing foreign citizens of government revenues and protecting the competitiveness of American companies.

"There appears to be no meaningful difference between this rule and the previous rule struck down by the Courts, so our concerns remain the same. The SEC's rule forces U.S. companies to disclose proprietary information to its competitors while foreign entities do not. This can give some large industry players an advantage on future business projects, and can fundamentally harm American jobs.

"The SEC ignored industry efforts to disclose information, but to do so in a way that doesn't give competitors an unfair advantage. The industry actively supports the Extractive Industries Transparency Initiative which takes a global approach and already includes 51 countries that promote transparency and puts all companies on equal footing.

"We need to take a closer look at the impact of the new rule on our operations and determine our next steps. The prior court case held that the SEC's initial rule was arbitrary and capricious."

-----

Earlier: 

U.S. JOBS DOWN 100,000 

U.S. RIGS DOWN 3 

U.S. THE STEEPEST CUTS 

U.S. OIL PRODUCTION DOWN 118 TBD 

U.S. BANKRUPTCY & BUBBLES

 

 

 

Tags: USA, OIL, GAS, JOBS

Chronicle:

HARM U.S. JOBS
November, 15, 15:25:00

OIL PRICE: ABOVE $61 AGAIN

REUTERS - Brent crude futures LCOc1 were down 72 cents at $61.49 per barrel at 1020 GMT, having fallen by 1.5 percent on Tuesday, its largest one-day drop in a month. U.S. West Texas Intermediate (WTI) crude CLc1 was at $55.12 per barrel, down 58 cents.

HARM U.S. JOBS
November, 15, 15:20:00

IEA COOLS THE MARKET

BLOOMBERG - Prices dropped during the session as the International Energy Agency said the recent recovery in oil prices, coupled with milder-than-normal winter weather, is slowing demand growth. The worsening outlook for consumption dampened some of the enthusiasm that OPEC and its allies will extend supply curbs.

HARM U.S. JOBS
November, 15, 15:15:00

IEA: GLOBAL ENERGY DEMAND UP BY 30%

Global energy needs rise more slowly than in the past but still expand by 30% between today and 2040. This is the equivalent of adding another China and India to today’s global demand.

HARM U.S. JOBS
November, 15, 15:10:00

RUSSIA'S OIL EXPORTS UP

Product exports have grown significantly over the past several years and are expected to continue to grow as Russian refineries add capacity to produce more high-quality products.

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