Subject: S7-10-22: WebForm Comments from Nathan Kos
From: Nathan Kos
Affiliation:

Jun. 15, 2022

June 15, 2022

 I disagree with this proposed rule. We have a major underinvestment in this country in not just energy, but other non-tech sectors which use a significant amount of energy. We need to encourage more production not less. If this rule was adopted, I fear an even greater underinvestment, leading to higher prices for everybody.

Further, the risks this rule seeks to address are all theoretical and hypothetical. But real risks that we have today include very high inflation, rising interest rates due to that inflation, and a possible recession due to high energy prices and rising rates. And this comes in part from the underinvestment in energy and energy intensive sectors. Why are we risking this even more? This is the real risk.

Further, this hurts all investors, not just some. It is a tragedy of the commons, with the environmental concerns of a few investors hurting the great mass of humanity, with the poor getting hurt the most. It is morally repugnant to hurt the poor with higher energy prices. I am sure Silicon Valley venture capitalists will be happy because capital will flow to their investments instead of non-tech investments giving them IPO opportunities. But what about the poor?

It is just so absurd to propose this rule when gas prices and inflation are so high. This is something only people who live in cloud cuckoo land would adopt.

I believe we must first seek to do no harm, and I fear that this rule will do so.

Thank you.