This Article examines the intersection of environmental crises and financial disclosure obligations through the lens of Great Salt Lake. As the lake shrinks to unprecedented levels, the resulting dust storms, diminished snowpack, and destabilized ecosystems increasingly threaten both the public health and economic viability of Utah’s most populous region, and economic impacts will extend far beyond industries directly dependent on the lake. These environmental threats can translate into material financial risks for publicly traded companies and municipal bond issuers, potentially necessitating disclosure under existing securities law. While industries directly reliant on the lake’s ecosystem may already face disclosure obligations, these will expand to include more sectors and geographic areas if the lake is allowed to continue to shrink. The Article argues that recognizing these growing securities liabilities presents a powerful additional reason for urgent policy interventions to restore the lake and safeguard the region’s long-term economic viability. This case study shows how localized environmental crises generate systemic vulnerabilities across economic sectors, with implications for similar situations worldwide.

This Comment focuses on energy developments offshore. Part I recognizes OCSLA’s purpose of balancing energy needs with protection of marine animals, coastal beaches, and wetlands. Part II discusses examples of presidential use of OCSLA §12(a) authority to protect (withdraw from leasing) portions of the OCS temporarily or permanently, including challenges to President Biden’s recent withdrawal of the East Coast, West Coast, and part of the Gulf of Mexico and Bering Strait from future oil and gas leases. Part III explores limitations on OCSLA §12(a) presidential authority to rescind or modify prior presidents’ withdrawals. Part IV details the need to protect marine mammals from impacts associated with oil and gas exploration, including seismic air gun blasting and sonar that significantly impairs hearing, communication, balance, feeding, and breeding. Part V examines the potential impact of President Trump’s wind moratorium. Part VI provides context for President Trump’s pro-energy/anti-environmental initiatives, and Part VII concludes.

Demand for data centers is increasing worldwide, raising questions about the electric grid, the transition to renewable energy, and distribution infrastructure. Northern Virginia is home to data centers that process nearly 70% of global digital traffic, leading officials to call for construction, at ratepayers’ expense, of new power plants and new transmission lines across four states, as well as the continued operation of coal-powered plants that had been scheduled to go offline. On December 6, 2024, the Environmental Law Institute and the Network for Digital Economy and the Environment co-hosted a panel of experts who examined the environmental impacts and policy implications of data center growth and the consequences for residents of Virginia and nearby states. Here, we present a transcript of that discussion, which has been edited for style, clarity, and space considerations.