The repeal of the law means companies like Exxon won't have to show how much money they give to foreign governments like Russia and it will make it easier for Big Oil companies to stay in other countries.
In his remarks when signing the resolution, Trump said:
This is one of many that we've signed, and we have many more left. And we're bringing back jobs big league, we're bringing them back at the plant level; we've bringing them back at the mine level. The energy jobs are coming back. And it's -- you see what's going on with the stock market. They know that we know what we're doing, so it's going up.
Double lie. Number one, the resultion will make it easier for oil companies to stay outside of the US. It doesn't brink back jobs.
Number two, the stock market does not crete jobs. It is merely an indicator of a perceived value of stock. A company's stock could go very high and no new jobs would be creasted.
Oh, and by the way; the rule also applies to the US and to mining companies. So if oil, gas and mining companies pay less taxes now, they don't have to disclose it to the SEC. Which means the public won't be able to know if Big Oil is paying less taxes than the public is.
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