Central ND News

U.S. Senator Kevin Cramer strongly criticized the Securities and Exchange Commission's (SEC) recent decision to implement a climate disclosure rule that would require companies to disclose their greenhouse gas emissions data. Cramer expressed his disapproval, stating, “The SEC’s final climate disclosure rule is the definition of federal overreach."

According to Senator Cramer, the SEC's mandate goes beyond its authority as it forces publicly traded companies to report their emissions data, potentially putting them at a disadvantage compared to foreign producers who do not face similar requirements. He emphasized that this new rule could lead to significant compliance costs for companies and hinder their ability to access credit and capital for growth.

Cramer also raised concerns about the impact of the rule on domestic energy producers, noting that it could limit their ability to innovate and grow production in the United States. He highlighted North Dakota's efforts in clean energy solutions and criticized the focus on regulation over innovation by unelected bureaucrats.

In response to the SEC's actions, Senator Cramer had previously urged the Commission to withdraw the proposed rule, citing its potential negative effects on domestic energy producers. Along with Senator Shelley Moore Capito, Cramer had expressed disapproval of the rule's mission to restrict access to capital for energy producers and potentially drive up energy prices.

Overall, Senator Cramer's stance reflects a broader concern among some lawmakers about the implications of excessive regulation on the economy and the energy sector.