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Congress set to repeal regulation on oil disclosures

Jan. 31, 2017 7:19 PM ETXLE, IYE, OIH, VDE, PXE, PXJ, IEO, IEZ, XES, XOP, BGR, FIF, RSPG, DUG, DIG, FXN, FCG, DDG, ERY, ERX, GASL, GASX, NDP, FENY, CRAK, GUSH, DRIPBy: Carl Surran, SA News Editor17 Comments
  • U.S. lawmakers are poised to approve legislation this week aimed at killing a Dodd-Frank rule requiring energy companies to disclose payments they make to foreign governments for oil and gas fields, handing a victory to industry groups that have spent years fighting the regulation.
  • The SEC rule, set to take effect next year, is one of a series of Obama administration regulations Republican lawmakers are trying to reverse using the Congressional Review Act, which allows Congress to undo regulations with a simple majority vote.
  • Congress also plans to vote this week to scuttle rules curbing methane venting and mountain-top mining; both the House and Senate must pass a resolution disapproving the rules, which Pres. Trump would then sign.
  • ETFs: XLE, VDE, ERX, OIH, XOP, FCG, ERY, GASL, DIG, DUG, BGR, XES, IYE, IEO, FENY, IEZ, PXE, GASX, FIF, PXJ, RYE, NDP, GUSH, DRIP, DDG, FXN, CRAK

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