The U.S. energy industry's core argument against an anti-corruption rule struck down by President Donald Trump and congressional Republicans does not hold water, supporters of the regulation say.
Earlier this month, Republican lawmakers invoked the rarely used Congressional Review Act to kill the rule, which was created by an amendment to the 2010 Dodd-Frank financial regulations. On Tuesday, Trump signed the measure.
It was the first time Trump approved a measure taken by congressional Republicans under the CRA to kill an Obama-era regulation.
The rule, which was originally introduced by former Sen. Richard Lugar, a Republican, and Democratic Sen. Ben Cardin, requires oil, gas and mining companies listed on U.S. stock exchanges to disclose how much they pay to foreign governments.