Exxon Mobil and Other Oil Companies Will Not Have to Report Payments to Foreign Governments or Foreign Leaders
Provision of Dodd Frank Eliminated
Now payments made by Exxon Mobil to Vladimir Putin will not have to be reported to the SEC.
THE PRESIDENT: Well, thank you very much. This is a big signing, a very important signing. And this is H.J. Resolution 41, disapproving the Securities and Exchange Commission’s rule on disclosure of payments by resource extraction issuers. It’s a big deal. And I want to thank Speaker Paul Ryan for being here. He’s been tremendous. Jeb Hensarling very, very important and really worked hard. Representative Bill Huizenga and all of the friends — Peter — all of my friends are up here. And we really appreciate it.
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.
So I think what I’m going to do, if I might, can I ask you to say a few words?
REPRESENTATIVE HUIZENGA: My pleasure, Mr. President.
THE PRESIDENT: Bill Huizenga.
**: So this is the first CRA that has been signed by the President. I’m very pleased to be the author of House Joint Resolution 41. Over 20 years, there’s been 56,000 rules that have been put in place with very little legislative input or oversight, and it’s time that changed. And I’m very thankful to the President, the Speaker, our Chairman Hensarling for being able to make this happen. And we think this is a good first step. So I’m very pleased. Thank you.
THE PRESIDENT: I’ll sign it — we may have to give him the pen. Congratulations. Great job. You’ve done a fantastic job.
(The President signs H.J. Resolution 41.)
THE PRESIDENT: A lot of people going back to work now. (Applause.) He’s working on Obamacare — it’s going to be very soon. Right?
SPEAKER RYAN: Yes.
THE PRESIDENT: Thank you all very much.
2:20 P.M. EST