Dear Security and Exchange Commission,
Under the so-called "Enhancement and Standardization of Climate-Related Disclosures for Investors," every single publicly traded company will be forced to make disclosures about their greenhouse gas emissions from both its "upstream and downstream" activities. Americans like me see right through this attempt by the Biden administration to bury oil and gas producers with so much paperwork and that it will be impossible to stay in business. The SEC is acting unlawfully by undertaking this rulemaking, as its authority does not extend to environmental and social political issues like climate change. These regulations will do nothing to change global temperatures under any reasonable model, but will expose the American energy sector to harassment and intimidation by liberal activists. Even more shocking is the SECs own admission that it is "unable to fully and accurately quantify" certain costs associated with this proposal. While the SEC’s calculated "paperwork burden" is an astounding $10.2 billion, this significantly understates the lost productivity from senior executives at businesses whose work would be diverted from creating shareholder value to serving as an SEC-mandated climate activist. This will also negatively impact private businesses who are partnered with public companies subject to this regulation. Furthermore, the subjective nature of these disclosure requirements indicates they were written with the intent of attacking American energy producers. While Russia and Iran will benefit from these regulations, American workers and consumers will lose. With gas prices already sky-high, it is disgraceful that the SEC would even consider this. Please withdraw the proposed rule.
Sincerely,