GOP lawmaker with BP stock has role in spill probe

Source: Associated Press

Thursday, Jun 10, 2010 15:57 ET
GOP lawmaker with BP stock has role in spill probe
Rep. James Sensenbrenner of Wisconsin hasn't directly criticized oil company, will not recuse himself
By DENNIS CONRAD, Associated Press

A multimillionaire House Republican who owns thousands of shares of BP stock has no plans to recuse himself from a congressional investigation related to the Gulf oil spill or from votes on Capitol Hill that could affect his investments in the oil company.

Rep. James Sensenbrenner of Wisconsin has avoided directly criticizing BP for the spill itself. At the same time, he has watched his BP stock tank in value.

Worth more than $251,000 just a few years ago, Sensenbrenner's 3,604 shares of BP PLC stock have plunged in value to just $116,000 based on midday Thursday trading. That's roughly half their value the day before the April 20 oil spill. Sensenbrenner has said his net worth is about $10 million.

The No. 2 Republican on the House Judiciary Committee and a former chairman, Sensenbrenner has kept a low profile on the issue, but now he's coming out swinging: He has written a letter to President Barack Obama questioning BP's actions and the adequacy of the White House response -- but refrains from directly criticizing BP for the spill.


Read more: http://www.salon.com/news/louisiana_oil_spill/index.html?story=/news/feature/2010/06/10/gulf_oil_spill_sensenbrenner_stock_bp

Recusal should be automatic if a conflict of interest exists.

And it needs to include family members too.

Oooh, crickets!

...someone with an investment portfolio who doesn't own some energy stocks. They'd either benefit or lose depending on their holdings.

Good luck finding somebody who doesn't have some oil money in their pockets.