Dodd-Frank Ruins More Than Banks

Curiously, the Dodd-Frank abomination gives Obozo another crack at the petroleum industry.

...The new regulation, Section 1504 of the Dodd-Frank bill, would require American companies to release information detailing expenditures on foreign operations.  That proprietary information would immediately be available to foreign and domestic competitors alike, and would be used to undercut whatever advantages American companies have achieved as a result of their own hard work.

Well, they didn't build it anyway, right?

The problems with Section 1504 go beyond the "competitive disadvantage" to which it puts American energy companies.  When implemented, Section 1504 will also place American companies in conflict with foreign countries which prohibit the very same disclosures that 1504 mandates.  As a result, American companies might well be forced to cease operations in nations where they have already invested tens of billions of dollars in order to avoid running afoul of the law.

As one study pointed out, there are also serious security implications involved in implementing Section 1504. 

American companies working in dangerous environments overseas may be placing their employees at risk if they fully disclose the locations, funding, and status of their operations.  The safety of American workers and their local employees overseas should be a paramount concern, but the SEC ruling does not appear to address this concern.

Well, the Dodd-Frank Abomination must have SOME benefits, right?

Right!!! 

In addition to the risk of violence, Section 1504 exposes American companies to the risk of greater shareholder litigation.  Like all complex securities regulation, Section 1504 is a boon for trial lawyers, but not for American workers or consumers, who will end up paying the costs of litigation.

In fact, it appears that the SEC has proceeded in the most intrusive manner possible, though it need not have done so.  Dodd-Frank allowed the agency broad leeway to interpret transparency rules in a manner that would not have materially harmed American companies.  It appears that, under Obama's direction, the agency has gone out of its way to punish American companies.  Yet nothing in Section 1504 applies to foreign state-run competitors that are not listed on U.S. markets

That theme--anti-American-Companies--resonates, doesn't it?  Kinda like a "pattern", ain'a?