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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsMother Jones has picked up the Rice/Keystone XL story
Susan Rice, thought by many to be Obama's number one pick for Secretary of State, holds millions of dollars in investments in Canadian oil companies and banks with stakes in the $7 billion Keystone XL Pipeline, according to a piece out today from OnEarth, a magazine published by the environmental advocacy group Natural Resources Defense Council. As head of the State Department, Rice would have ultimate authority in determining the fate of the pipeline, which would link northern Alberta's remote oil sands fields to Texas' Gulf Coast refineries.
The piece reveals that Rice has significant holdings (PDF) in more than a dozen Canadian oil companies and banks that would benefit from the growth of the Canadian tar sands industry and the construction of the controversial pipeline. OnEarth's Scott Dodd finds that nearly a third of Rice's personal net worthestimated in 2009 to be between $23.5 million and $43.5 millionis invested in Canadian oil producers, pipeline operators, and other energy companies including several with egregious environmental records on both sides of the border. Financial disclosure reports further show that Rice has between $300,000 and $600,000 invested in TransCanada, the company that is seeking the permit from the State Department to build sections of the pipeline from Oklahoma to the Canadian border.
"It's really amazing that they're considering someone for Secretary of State who has millions invested in these companies," Bill McKibben, founder of the activist groups 350.org and Tar Sand Action which have organized protests against the Keystone XL project, told OnEarth.
The rest: http://www.motherjones.com/blue-marble/2012/11/obamas-secretary-state-financial-stake-keystone
ananda
(28,868 posts)Sigh
patrice
(47,992 posts)of not being able to say "No" to Rice due to Keystone?
Snarkoleptic
(5,998 posts)His temper allows us to look deeper into her record, holdings and possible motivations.
If she's in the tank for Keystone, let her (potential) nomination fail.
IMHO.
Sekhmets Daughter
(7,515 posts)If Obama nominates her for SOS, the shit will hit the fan. He might as well nominate Jamie Dimon or Lloyd Blankfein for Treasury ...
PennsylvaniaMatt
(966 posts)However, Dimon has repeatedly rejected the notion of serving in the position.
Sekhmets Daughter
(7,515 posts)sense of humor.
PoliticAverse
(26,366 posts)Baitball Blogger
(46,745 posts)Makes you wonder what the motivating factor is when millionaires want the top jobs.
bvar22
(39,909 posts)Last edited Wed Nov 28, 2012, 07:52 PM - Edit history (1)
.....and will OPPOSE her appointment.
There has GOT to be someone else without the conflict of interest of MILLIONS invested in the Dirty Oil (Tar) business.
bluestate10
(10,942 posts)President makes it.
MessiahRp
(5,405 posts)Your opinion is duly noted... and hopefully will be ignored.
sabrina 1
(62,325 posts)who fully supported Bush's wars and opposed ending them ever. But it appears she also has Oil interests too so that support should not be a surprise.
Republicans should love her though and maybe they do, slamming her only to get the knee-jerk support they expect from the 'left' for anyone they oppose.
Some of us remember what a polarizing figure she has always been. But these latest revelations put the reasons for her strange support for all things Bush in perspective.
TheDebbieDee
(11,119 posts)the US United Nations Ambassador.
sabrina 1
(62,325 posts)graham4anything
(11,464 posts)sabrina 1
(62,325 posts)Drunken Irishman
(34,857 posts)bvar22
(39,909 posts)My bad.
As you pointed out, the election is over, so we private citizens no longer have a voice in our government,
...only the Money Carrying Lobbyists now have access.
How silly of me to think that this was still a democracy!
You sure showed me.
I am soooo embarrassed!
dflprincess
(28,080 posts)It doesn't give me a lot of hope for other appointments.
I had hoped Obama might find his inner Democrat after his reelection...
sabrina 1
(62,325 posts)Democrats to this news. This is one huge issue. She is done as far as Democrats are concerned. She was also a huge supporter of Bush's policies, but we also just found out she has lots of oil interests also, so now we know why she was so unpopular among Democrats for so long.
The Tar Sands though? What Democrat would invest in that project?
If we are still a democracy, and you seem to be implying we are not, the huge opposition from Democrats will result in her not being nominated. Otoh, if you are correct and we are no longer a Democracy, the people will have no say. But let me ask you this, why you say we are not a democracy now that Dems have won? That is an odd opinion to have.
Champion Jack
(5,378 posts)Honeycombe8
(37,648 posts)It makes it more of a sure thing the pipeline will go ahead.
El Shaman
(583 posts)Fridays Child
(23,998 posts)By the way, does anyone know what sort of investments Condolleeza Rice held at the time of her SOS nomination? After all, she did have an oil tanker named after her.
bluestate10
(10,942 posts)Fridays Child
(23,998 posts)...presenting some balance and perspective on the subject.
WilliamPitt
(58,179 posts)Awesome! I own a rich person!
hrmjustin
(71,265 posts)xfundy
(5,105 posts)can I get first pick? Pleeeeeez?
Sekhmets Daughter
(7,515 posts)This is not a matter of eating our own. This is a matter of being betrayed by one of our own.
sabrina 1
(62,325 posts)Board. Investing in Oil is considered heroic by Republicans so they boasted about her Oil connections. We however, are not Republicans. I imagine these revelations about Rice will make her popular with the right. She was a Bush Foreign Policy supporter so the Right were never too upset with her. I doubt they are now, I think they are trying to force Dems into defending her and pushing her into the position of SOS.
Fortunately not all Democrats rushed to defend her remembering her Bush support.
Sekhmets Daughter
(7,515 posts)the president to nominate her. Then they'll do a token resistance and confirm her with a huge majority. The are very devious those republicans.
As to Condi...who cares, we weren't battling the Keystone pipeline and everyone expects the republicans to favor big oil...
mfcorey1
(11,001 posts)many conflicts of interest, we will move on to others.
Fridays Child
(23,998 posts)TwilightGardener
(46,416 posts)WinkyDink
(51,311 posts)joeybee12
(56,177 posts)DearAbby
(12,461 posts)What I don't agree with, we are considering because she owns stock in a Canadian oil company we should not defend her against these vicious attacks against her character. This is a political assassination, they want to black list her name. Ruin her career, her life's work and good name is expendable. I may not agree with what stocks she owns, but that isnt illegal to own them...they are viciously attacking this woman for political gain...I WILL STAND UP AND DEFEND HER.
2on2u
(1,843 posts)support the machinery.... perhaps the Canadians don't want the pollution that goes with it... perhaps humans find the dumbest and most difficult ways to get things done.... I JUST DON'T KNOW.
This reminds me of importing beef from Japan and then exporting American beef back to them. It's pretty effed up.
Oops, I stand corrected.
http://www.nrcan.gc.ca/energy/sources/infrastructure/1607
Canadian Refineries
There are currently 12 companies operating refineries in Canada. Only Imperial Oil, Shell and PetroCanada operate more than one refinery and market products nationally. Other refiners generally operate a single refinery and market product in a particular region. These regional refiners include North Atlantic Refining, Irving Oil and Ultramar in the east, Suncor in Ontario and Federated Co-op, Husky and Chevron in the west. Of the 19 refineries in Canada, there are 16 that manufacture the full range of petroleum products. Husky's facility in Lloydminster, Alberta, and the Moose Jaw Asphalt plant in Moose Jaw, Saskatchewan, are primarily asphalt plants with limited production of other products.
The Nova Chemicals facility in Sarnia, Ontario, is a petrochemical plant that also produces some distillate products. There is also a small refinery in Bowden, Alberta, owned by Parkland Industries that is currently shutdown. There are three main refining centres in Canada (Edmonton, Sarnia and Montreal), but most provinces have at least one refinery. Manitoba and Prince Edward Island are the only provinces with no refining capacity and there are no refineries in the territories.
MotherPetrie
(3,145 posts)julian09
(1,435 posts)The sec of state is central to pipeline decision.
MotherPetrie
(3,145 posts)too much baggage
JI7
(89,254 posts)has she done anything to show she tries to push for things based on how it will benefit her more than what is right ?
i think her husband is canadian hwich is why they might have these investments.
sabrina 1
(62,325 posts)Oil Interests, which explains her support for the Oil Wars. But then most people knew she was very right leaning during the Bush years. She was always a controversial and not popular individual among Dems. However now we see why she was such a supporter of Bush's foreign policies which makes it even worse. It was all for profit after all.
xfundy
(5,105 posts)That isn't RICH? Please?
Being rich doesn't mean they're smarter than others.
GeorgeGist
(25,322 posts)Her nomination DOA for good reason.
grantcart
(53,061 posts)I expect that there is a system that builds a wall between the office holder and knowledge or influence in the management of their investments while in office.
For the record both FDR and JFK would have had much greater personal investments and greater conflict of interest. I can't believe that this is the first time this situation has arisen in the modern era and that there isn't a standardized procedure to deal with it.
There is a much greater concern for people like the Majority leader who is personally trading on inside knowledge and making millions off of it.
The fact that she has those stocks today, as an ambassador and not as a major decision maker is not in iteself much of an issue IMO.
xxqqqzme
(14,887 posts)the plot thickens. Need to keep a watchful eye the progression of this story. See who reports it and who does not.
JEB
(4,748 posts)but McCain is still a demented old fool.
El Shaman
(583 posts)But , she's female and unlike Mr. No Bid and Mittens: she can't be trusted!!
Here's a good one for ya:
http://www.politicususa.com/john-boehner-keystone-xl.html
hrmjustin
(71,265 posts)jsr
(7,712 posts)alittlelark
(18,890 posts)Scripted, planned, organized...... Each side will play their 'part'.
.....sigh.......
locks
(2,012 posts)I think Susan Rice has done an outstanding job at the UN and am angry that Repubs are beating her up. BUT, though almost all of our top leaders are hogtied to Big Oil, this is the most crucial time we've had to take a stand on behalf of our environment and our planet. The Keystone pipeline and fracking are symbolic of the power of Big Oil and the destruction which it is wreaking and I can't see how Susan Rice would stand against her millions of investments in Canadian oil and other "energy" companies.
RomneyLies
(3,333 posts)This reeks of "can't get her from an attack from the right, so attack her from the left" deal to me.
KoKo
(84,711 posts)but not unbelievable in these times.
GOOD ON YOU for posting it here ...because you will get the views and that's a very good thing!
Hoyt
(54,770 posts)I need to think about this when I have time. Don't like sound of it though.
AnotherMcIntosh
(11,064 posts)the health-insurance act, instead of Medicare for all, didn't directly or indirectly own stock in the companies that provide health insurance?
They otherwise just voted for the mandatory provisions out of the goodness of their hearts?
progressoid
(49,992 posts)What sort of stock does Hillary own in international companies?
Jersey Devil
(9,874 posts)Never mind, I am already deflated. But I should have known better - almost everyone who is anyone in government on both sides of the aisle is a grazillionaire.