The SEC is proposing a law, File Number S7-10-22, that would order corporate reporting of greenhouse gas emissions and climate risks. Costs to gather appropriate data would increase operator expenses, resulting in less profit. In addition, regulating these companies would probably mean more money needed from Congress, which might mean another tax increase.
Oil and gas companies would need to report greater details to shareholders, creating confusion with immaterial information. This may deter investors in a time when more oil and gas investing is needed.
The deadline to comment is May 20, 2022 but 36 oil and gas trade associations and the State of Virginia are asking for comment period extension.
Source/Referencing:
https://www.mineralrightsforum.com/latest https://www.sec.gov/comments/s7-10-22/s71022.htm