Biden's Financial Regulators Target Oil and Natural Gas Production |
The Securities and Exchange Commission (SEC) claims its disclosure rule is necessary to meet investors’ demands for information on climate change risks. Yet digging into the numbers provided by SEC, the vast majority of pressure for the rule comes from foreign activists, with only 7% of American investment managers supporting it.
SEC’s rule would reorient the entire financial system into becoming a driver of climate change policy rather than promoting fair financial returns to workers, retirees, and other investors. SEC is willing to inflate energy prices by denying financing for American oil and natural gas production, leading to more imports from OPEC and other unfriendly nations.
Making matters worse, this rule would cost Americans $10.2 billion and further increase the inflation that is rippling throughout the entire economy. The commission lacks the authority from Congress to implement this rule and is pursuing a political agenda at the cost of hardworking Americans.
The Alliance is a leading voice among many associations, academics, businesses, and policymakers urging SEC to withdraw this rule.
SEC’s rule would reorient the entire financial system into becoming a driver of climate change policy rather than promoting fair financial returns to workers, retirees, and other investors. SEC is willing to inflate energy prices by denying financing for American oil and natural gas production, leading to more imports from OPEC and other unfriendly nations.
Making matters worse, this rule would cost Americans $10.2 billion and further increase the inflation that is rippling throughout the entire economy. The commission lacks the authority from Congress to implement this rule and is pursuing a political agenda at the cost of hardworking Americans.
The Alliance is a leading voice among many associations, academics, businesses, and policymakers urging SEC to withdraw this rule.
