Tougher financial rules loom over oil, gas industry


The Securities and Exchange Commission, the Commodity Futures Trading Commission and the Treasury Department are working on new financial regulations that would encourage financial institutions to step up investments in clean energy, which could lead to higher capital costs on oil and natural gas and speed up the transition away from fossil fuels. "There's a robust discussion that goes on between companies and their investors already, as well as significant climate reporting," said American Petroleum Institute Vice President for Corporate Policy Stephen Comstock, adding, "The SEC needs to take all that into account as they consider this, before they just step into trying to regulate this space."

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