Trump Repeals Obama Energy Regulation

The video discusses a new anti-corruption rule requiring companies to disclose payments to foreign governments, modeled after EU and UK regulations. It aims to increase transparency and accountability. However, major oil companies like Exxon and Chevron oppose it, arguing it puts them at a competitive disadvantage by revealing sensitive investment information. The rule includes disclosing payments like taxes and bonuses, which companies prefer to keep private. Congress, siding with oil companies, passed a resolution to overturn the rule, which President Trump signed.

What types of payments to governments are included in the disclosures required by the rule?

Why do Exxon and Chevron prefer to keep their financial information private?