U.S. withdrawal from energy transparency group called strategic

US withdrawal from energy transparency 'strategic' Leaving a transparency initiative on fossil fuels was a mistake, advocates said, but Washington and a former Trump associate said the decision was strategic.

The U.S. Interior Department last week withdrew from the Extractive Industries Transparency Initiative, a body that seeks to find how revenue tied to the oil, gas and mineral resources sectors makes its way through member-state governments and economies.

In its letter of withdrawal, the department said it supports transparency mechanisms in principle, but had its own reporting standards that were the "new global standard in revenue governance transparency." Because EITI standards do not account for the U.S. legal framework, it was leaving the organization as an implementing country.

The U.S. government endorsed the EITI in 2004 and committed to its standards in 2011. When the EITI boards approved the U.S. application in 2014, it became the first member of the Group of 8 industrialized nations to achieve candidacy.

TVNL Comment: Anything and everything good achieved by Barak Obama is being overturned by this insane president. Wake up, America. WE are the losers.