Dec. 24, 2023
I am opposed to the creation of NACs because our country already has a problem with excessive wealth inequality and the creation of NACs would exacerbate the situation by creating a framework for natural resource monopolies to legitimately exist. If implemented, NACs would drive the prices of natural resources higher, leading to lower living standards and increased poverty. NACs would also create an avenue for deeply indebted countries such as the U.S. to sell off the control of natural resources to creditors, thereby depriving citizens from their right to benefit from and the freedom to repurpose their lands. The creation of NACs would reduce or eliminate the power of Congress to manage public lands. While I would expect courts to find NACs to be unconstitutional for this reason, I think the SEC should also think about whether enabling NACs would be consistent with our nation's social contract, both written and implicit. Our government ("by the people for the people") already has plenty of tools at its disposal to protect the environment, and if our government is not doing a good enough job, then new leaders need to be elected. The SEC should not endorse the creation of NACs that contravene the social contract.