His latest effort is to try to weaken American energy companies and empower their overseas rivals by suing the Securities and Exchange Commission to draft laws that burden our companies-and leave foreign ones alone and untouched.
From the Hill:
Billionaire investor George Soros is urging the Securities and Exchange Commission to craft the "strongest" rules possible requiring oil companies to disclose payments to foreign governments and urging against an exemption that Exxon and other companies are seeking.
The SEC is crafting rules to implement a provision -- Section 1504 -- in last year's Wall Street reform law that forces oil and mining companies to provide the regulators specific information about payments connected to projects in foreign countries...
A suite of energy companies, in comments to the regulators, say they favor disclosure but warn that prescriptive rules would be burdensome and place them at a competitive disadvantage compared to certain state-backed oil companies from countries such as Russia and China.
