Original report from Washington
25 September 2009
Cambodia could benefit from a new energy security act, introduced to the Senate this week.
The “Energy Security Through Transparency Act” proposes changes to the Securities and Exchange Commission to stabilize energy sources and require energy extractive companies registered in the US to disclose the amount of money they pay to foreign countries and the US government for oil, gas and minerals.
Cambodia is on the cusp of offshore oil exploration, but critics warn an “oil curse” could put the money from the resource into the pockets of corrupt officials.
The transparency bill was introduced by Sen. Richard Lugar, a Republican from Indiana, among others.
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