The ink on the SEC’s regulation was barely dry.

Federal judges have temporarily halted a landmark new climate reporting rule, sidelining efforts by Wall Street’s top regulator to uncover the risks U.S. corporations and their investors face from rising global temperatures.

Judges of the 5th U.S. Circuit Court of Appeals sided Friday with two fracking companies that had asked for an emergency stay of the “expansive and novel requirements” that they say the Securities and Exchange Commission has imposed on them. The companies’ preliminary victory could spell legal trouble for the SEC rule, which faces court challenges from the energy industry and environmentalists.

The rule — a first-of-its-kind effort to require public companies to start reporting a raft of new climate-related information to investors — has drawn lawsuits from industry groups and environmentalists.

It is no surprise that environmentalists oppose the SEC’s new rule because it was watered down and doesn’t go far enough as far as they are concerned. Environmentalist groups are today’s Communists except they justify their actions as trying to help the planet sacrificing the individual to nature like Communists seek to sacrifice man to the state or collective will.

Destroying capitalism makes it easier to manipulate and control people since the public would no longer has the ability of free choice if environmentalists get their way.

PHOTO CREDIT: Pixabay