February 10, 2012
Dear SEC Commissioners,
Please do not give in to industry pressures on Section 1504 of the Dodd-Frank Act (the Cardin-Lugar Amendment) - and make sure that ALL companies are covered, every country and every project gets reported, and loopholes that would allow large sums of money to go unreported are closed.
I was talking to a recent college graduate in economics. His conclusion is that one of two ways to change America's future positively is to complete the transition to energy that is NOT a ground resource. Such a simple, profound reality to create jobs. The amount of subsidies given to the huge fossil industries lines pockets instead of looking to the future. And the change is being stymied by Big Oil, the coal companies and the natural gas people. It was refreshing to hear him. I was sharing an article from 1971 entitled IS IT TOO LATE TO SAVE AMERICAN INDUSTRY..from Industry Week. .this article as this youth said reads as if it was written today. 40 years we've had to read the handwriting on the wall. These youth see it so plainly, This practice of raping other countries for their oil and cooperating with those who take advantage of their own people is typical of the caliber of behavior we have come to expect from our greedy oil industry. Transparency and strong rules on 1504 without loopholes have a better opportunity of keeping America in a position of respect, forcing the industry to higher standards.