The EITI and the ESTT Act

As earlier reported US Senators have introduced a bill titled The Energy Security Through Transparency (ESTT) Act. The EITI International Secretariat has issued the following statement about the bill:

US Senator Richard Lugar and several other senators have recently introduced the Energy Security Through Transparency Act of 2009. Stakeholders have expressed an interest in the EITI's perspective on the proposed bill. The EITI is a multi-stakeholder initiative comprising of governments,

US Senators Introduce Energy Payment Transparency Bill

US Senators introduced on 23 September the The Energy Security Through Transparency (ESTT) Act. In a press release the bi-partisan group of five US Senators, Dick Lugar (R-IN), Ben Cardin (D-MD), Chuck Schumer (D-NY), Roger Wicker (R-MS), and Russ Feingold (D-WI) state that they introduced legislation in order "to reverse the “resource curse” by requiring companies to reveal payments made to U.S. and foreign governments for oil, gas and minerals.

US Senators preparing bill to improve transparency of resource revenues

At the 1st session of the US Senate Foreign Relations Committee, Senator Richard Lugar (R-IN) stated that he is preparing to introduce legislation to include US implementation of the EITI with bipartisan co-sponsors, including Senator Cardin (D-MD). Robert Hormats, the nominee for Under Secretary of State for Economic, Energy, and Agricultural Affairs, called the EITI “one of the very, very innovative and very important developments that's taken place over the last several years”.

Panel Discussion and Reception for the US Senate Foreign Relations report "The Petroleum and Poverty Paradox"

Panel Discussion: Senate Foreign Relations Staff Report on

The Petroleum and Poverty Paradox: Assessing U.S. and International Community Efforts to Fight the Resource Curse

4:30-5:50 PM in the HERTER ROOM, Nitze Building, Johns Hopkins - SAIS, 1740 Mass Ave., Washington DC

Reception and Photo Exhibit with Ed Kashi, Photographer: Curse of the Black Gold: 50 Years of Oil in the Niger Delta

6:00-7:00 PM in the Student Lounge off the Nitze Cafeteria

Peter Eigen speaks about the EITD Act

Speaking about the the proposed legislation in US Congress that aims to improve the transparency about revenues from resources, Chairman of the EITI, Dr Peter Eigen went on record saying the following:

The EITI is following the discussion regarding this proposed legislation with interest. We welcome efforts to improve resource revenue transparency that are consistent with the goals of the EITI. The EITI is a country led and owned initiative. However, at the international level,