John, we keep beating the drum about banning members of Congress from trading stocks. And here’s why:
10 US Senators own up to $1.2 million in individual stocks of Big Oil companies.
It gets worse: Five of those senators sit on committees tasked with environmental protection, climate issues and oversight of the agencies responsible for addressing the climate crisis. And nine of them voted on President Biden’s climate bill last summer, which had a huge impact on Big Oil profits.
The conflict of interest is glaring.
We’ll tell you more about the senators who are invested in Big Oil, but first, we’re asking you to make a donation to CREW today. Help us ban stock trading in Congress and hold our elected leaders accountable →
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The vast majority — up to $1,106,000 — of the Big Oil stock held by senators is held by Republicans. Here are the top 3 Big Oil investors in the Senate:
- Senator Jerry Moran: Moran is a Republican from Kansas who holds between $119,006 and $360,000 in Exxon and Chevron. Moran *also* serves on the Commerce, Science and Transportation Committee, which has jurisdiction over oceans, fisheries, weather, climate change and natural disasters. Moran voted to deny that human actions cause climate change, voted against the Inflation Reduction Act, criticized the Green New Deal, and promoted the Keystone XL fossil fuel pipeline.
- Senator Pete Ricketts: Ricketts is a Republican from Nebraska, who holds between $100,001 and $254,000 in Chevron, Exxon, Phillips 66, Valero and ConocoPhillips. Ricketts *also* serves on the Committee on Environment and Public Works, which has jurisdiction over environmental and anti-pollution laws and oversees the Environmental Protection Agency and the U.S. Army Corps of Engineers. Ricketts opposed the Inflation Reduction Act as Nebraska governor, calling it part of President Biden’s “radical environmental agenda.”
- Senator Shelley Moore Capito: Capito is a Republican from West Virginia who holds between $32,004 and $130,000 in Exxon, Chevron, Shell and Phillips 66 stocks. She is the ranking member of the Committee on Environment and Public Works and is a member of the Commerce, Science and Transportation Committee. She has drawn scrutiny for introducing legislation that would have approved the Mountain Valley Pipeline, while owning stock in a company behind the project.
John, the list goes on and on. You can read the full analysis on our website, compiled from CREW’s database of personal financial disclosures.
But here’s the bottom line: Elected officials need to understand that elected office is for serving your constituents, not lining your pockets and building your stock portfolio.
If you agree with us, help CREW fight back. Make a donation of any amount to help us ban congressional stock trading and uncover these conflicts of interest →
Thanks,
CREW
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