Dont know if anyone is following EITI, or will be in DC for this, but this is an alignment of international tax/trade transparency policies. On the one hand, an international regulatory policy on the Mineral and Mining Consortiums rules on extraction investments and revenues could actually be beneficial, particularly if Dodd-Frank does not get hacked to bits in the new GOP Congress. However, as it is being applied, EITI is incompatible with countries where State-owned revenues and resources strategically need to remain within the State and not be subject to the rule-based transparency measures that only go to benefit greedy stockholders as a means to maximize their investment returns. To say that EITI is like the TPP for extractive industries is not an understatement. It is a rule-based global initiative that can be used to bully smaller or non-aligned States into becoming EITI compliant, priviliging the privatization of global resources into the hands of international investors. https://federalregister.gov/articles/2015/01/14/2015-00508/us-extractive-industries-transparency-initiative-multi-stakeholder-group-useiti-msg-advisory
Posted on: Thu, 15 Jan 2015 06:38:26 +0000
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