Two Bills Signed Into Law By Trump So Far

Ken AshfordCorporate Greed, Energy and Conservation, Environment & Global Warming & Energy, Trump & AdministrationLeave a Comment

(1) Repeal of the “Disclosure of Payments by Resource Extraction Issuers” Rule.

The rule was that oil, gas and mineral companies had to disclose (to the Securities and Exchange Commission) any payments (taxes, royalties, fees, bonuses, etc) given to foreign governments relating to commercial development of oil, natural gas, or minerals. Designed to prevent companies from engaging in corruption with foreign governments, it has only been a rule since last September. It is gone now.

(2) Repeal of the “Stream Protection” Rule:

The rule, which has only been around since December, was a comprehensive regulatory environmental protection plan which governed the conditions in which a coal mining company can and cannot dump mining waste into streams and waterways. They would have had to monitor affected streams during mining, and the company had to develop a plan for restoring damaged waterways to something close to their natural state after mining is done. Except, no more. That rule is repealed under the reason that compliance would result in the loss of coal mining jobs. (In truth, the rule would only have taken about 120 jobs in the next 20 years, while the coal mining industry as a whole has lost 25,000 jobs since 2012, much of that due to continue automation and lower demand.)