Climategate: SEC Demands U.S. Firms Disclose Global Warming Risks to Shareholders — Really (PJM Exclusive)
The Securities and Exchange Commission is demanding that publicly traded U.S. companies disclose their risks from man-made global warming to shareholders.
As a former federal regulator, I can foresee a whole range of possible risk assessments. Companies could tell their stockholders:
-- To protect your share values, our company is planning to relocate our production assets to China. We’ll send our forwarding address when we get there.
-- We believe it will be impossible to profitably manufacture aluminum under the proposed energy tax regime, and will sell out before everybody else realizes this.
-- We believe the U.S. government can and will sharply reduce its greenhouse gas emissions, and that Europe, China, and India will be persuaded to follow suit. Thus there will be no risk of the planet overheating, and your shares will retain their full value.
Here’s the risk assessment I would suggest they give their stockholders: