Regulation of oil and gas operations is best accomplished at the State level. A one-size-fits-all approach to regulation is not a viable option to ensure the highest level of safety and environmental protection.
Miller argues for state-level regulation of oil and gas for better safety and environmental protection.
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I enjoyed your opening statement. You talked about empowering consumers, fair, transparent, and competitive marketplaces, and dealing with bad actors.
I have some real concerns with that. I have had a concern with the definition between subprime and predatory for years, and I am glad to see we are going to finally deal with it.
While I strongly believe in coordination among international regulators, we must resist the tendency of pursuing a one-size-fits-all approach.
On the recent ruling on Basel III, you acknowledge insurance companies are very different from banks, and you postponed any negative decision on that. I think that was a very, very wise move.
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