May. 04, 2022
To Whom It May Concern: Under the Trump administration America was blessed with true energy independence. Under Biden, that is no longer the case, since he cancelled the Keystone XL Pipeline, eliminating thousands of lucrative jobs as a result. At that point, Biden and his appointees began a vendetta against American oil and gas companies, creating skyrocketing energy prices in this country. To make up for our energy deficit, Biden has approached Venezuela and Saudia Arabia to increase their oil production instead of allowing our own energy companies to produce that oil and gas. This is insane! Why prop up oppressive, totalitarian regimes when we have plenty of oil and gas at home? Now the SEC is further hobbling our energy industry in the form of a 500+ page proposal to require public companies to report their various impacts on “climate change.” This complicated legislation-through-regulation scheme will saddle companies with huge new costs and enable the “woke” ESG crowd to bully companies, all the while enriching the trial bar, who will find new ways to sue productive companies, and big accounting firms, who will reap revenue from helping companies comply with these reporting requirements. And for what? Public companies are already required to disclose “material” risks, and that includes climate change, for some companies. If adopted, these sweeping new disclosures will discourage companies from going public, and will force them to shift resources from innovation and job creation to compliance with the Left’s mandates. This INSANE proposal will destroy American competitiveness and make us dependent on foreign oligarchs and dictators for our energy needs. As is happening in Europe with Putin's demands, we would be vulnerable to those foreign leaders’ whims and dictates. Please WITHDRAW this destructive proposal! Regards, William Burt