1. Corruption within host governments increases the potential for global economic and political instability in the form of civil unrest, failed states, terrorism, and economic and humanitarian crises. Transparent business practices are an important step in combating corruption and the instability it fosters.
2. SEC regulations will capture a larger portion of the international extractive industries corporations than any other single mechanism, thereby setting a global standard for transparency and promoting a level playing field.
3. Investors need to be able to assess the risks of their investments in the oil, gas and mining sectors: where, in what amount, and on what terms is their money being spent in what are often very high-risk operating environments in impoverished countries with unstable governments.
4. US energy security will benefit from the fostering of stable, long-term, and mutually-beneficial relationships with oil producing nations.
5. Companies in the extractive industries need to protect themselves from false or unfair accusations and blame-shifting by host governments that can tarnish their reputations and lead to hostile operating environments, litigation and loss of investment.
6. American corporations often represent the public face of the US abroad and need to be seen as fair players by the people of countries where they operate and the world at large.
7. Local citizens living in developing nations must be able to hold their government accountable for the beneficial and equitable appropriation of revenue to reduce corruption and ultimately create a more stable, risk-free operating environment.
8. Resource-endowed countries have a window of opportunity right now in which to convert natural resource wealth into lasting benefits for their citizens and a more stable world; the resources will not last forever.
9. The American people want to know that their government and corporations are not contributing to the corruption, poor governance, and unmitigated poverty that too often afflict resource-rich countries in the developing world.
10. The US will establish itself as a world leader in the movement to promote transparent business practices as part of the fight against corruption and poverty.
