Last week on Tuesday, December 5th, American Stewards delivered a special briefing on Natural Asset Companies (NACs) to 15 Congressional staffers representing members of the U.S. House Western Caucus. Gabriella Hoffman with Independent Women’s Forum joined us in explaining the dangers of NACs.
We also met with several Senate and House Members and staff in one-on-one meetings making them aware of the proposed rule.
Utah’s State Treasurer Marlo Oaks has taken a keen interest in pushing back on NACs and just yesterday discussed the issue on the Glenn Beck program. You can listen to their conversation on “The Glenn Beck Show“. The conversation is the last 20 minutes of the show. It is an excellent podcast and we highly encourage you to listen!
In a news release his office issued on Monday, Treasurer Oaks stated: “The proposed creation of Natural Asset Companies is one of the greatest threats to rural communities in the history of our country. Under the proposal, private interests, including foreign-owned sovereign wealth funds, could use their capital to purchase or manage farmland, national and state parks, and other mineral-rich areas and stop essential economic activities like farming, grazing, and energy extraction. Recreating on Utah’s incredible natural lands could also face serious curtailment.”
Oaks concluded by encouraging citizens to “push back against a proposal that could result in the 67% of the state owned by the federal government to be placed under the control of private investors, including foreign actors, who do not have our best interest at heart.”
U.S. Rep. Harriet Hageman (R-WY) is currently circulating a member letter requesting an extension of the comment period for the proposed SEC rule to create Natural Asset Companies.
Call your member and ask them to sign Rep. Hageman’s letter requesting the SEC to extend the comment period for another 60 days. You can locate your members’ contact information here: https://www.house.gov/representatives
Get Educated on NACs:
NAC Briefing Paper & Exeutive Summary | American Stewards
Companies That Can’t Make Money | By Marlo Oaks | Published in the Wall Street Journal
Senator’s Ricketts, Crapo and Risch Letter to SEC
Beware SEC Creation of Natural Asset Companies | Published in Real Clear Markets | Margaret Byfield
Deplorables Killed Net Zero and ESG | By Elizabeth Nickson | Welcome to Absurdistan
