Stories tagged with "sec"

New SEC Oil Accounting Rules

Posted by Gail the Actuary on December 30, 2008 - 10:04am
Topic: Economics/Finance
Tags: accounting, oil, original, sec [list all tags]

On December 29, the SEC announced updated accounting rules for oil and gas companies. The new rules are expected to be effective a year from now, with financial statements issued December 15, 2009, and subsequent. Full details are not yet available, but in general, the new rules allow companies to make greater consideration of technology in setting reserves. The SEC will also allow companies to disclose probable and possible reserves to investors, in addition to proven reserves. A third change is that average prices during the previous twelve months will be used, instead of prices as of the statement date.

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No Naked Short Selling => No Short Selling at All => No Future Energy?

Posted by Nate Hagens on September 19, 2008 - 10:05am
Topic: Miscellaneous
Tags: christopher cox, original, sec, short-selling [list all tags]

In an amazing (and as yet unconfirmed) development tonight, the SEC has announced a temporary ban on ALL short selling. In the 100 or so posts on theoildrum in the past 3 years, I usually save my opinions for the conclusion. Tonights news has me a bit outraged, so forgive me if I 'temporarily' diverge from that pattern. If ALL short selling is truly banned, whether it be for a week, a month or a year, the capital markets as we know them will cease to function, which among other things, will cause subtle but serious danger to the future production of energy. (UPDATED at end of post 9/19 06:30 CDT)



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