Two exciting links to share today, largely to do with how foreign governments relate to extractive industries.
1) John Cavanagh and Robin Broad report back from their trip to El Salvador’s community of San Sebastian, and write about the impact mining has had on water there.
2) James North in The Nation writing on Publish What You Pay’s exciting victory in getting the U.S. Securities and Exchange Commission to force oil, gas, and mining companies that are listed with the U.S. stock exchange to divulge their payments to foreign governments. North highlights the truly global impact the SEC decision will have:
In Angola, where the oil giants have transferred vast wealth to the one-time Marxist elite but left the vast majority of the people in poverty, a growing opposition will also celebrate. In the Democratic Republic of the Congo, members of the outspoken Journalists’ Association whom I met recently in Fungurume, near the $2 billion Freeport-McMoRan copper mine, will have more specific information for their reports. Cambodians for Resource Revenue Transparency will be able to keep closer watch on Chevron, Total and ConocoPhillips. In East Africa, the distinguished journalist Charles Onyango-Obbo is probably licking his chops at another chance to scrutinize his old nemesis, the Museveni regime in Uganda, where sizable oil reserves have recently been discovered.