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Wed Nov 28, 2012, 06:07 PM

Mother 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 worth—estimated in 2009 to be between $23.5 million and $43.5 million—is 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

61 replies, 5737 views

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Reply Mother Jones has picked up the Rice/Keystone XL story (Original post)
WilliamPitt Nov 2012 OP
ananda Nov 2012 #1
patrice Nov 2012 #2
Snarkoleptic Nov 2012 #43
Sekhmets Daughter Nov 2012 #3
PennsylvaniaMatt Nov 2012 #20
Sekhmets Daughter Nov 2012 #22
PoliticAverse Nov 2012 #34
Baitball Blogger Nov 2012 #4
bvar22 Nov 2012 #5
bluestate10 Nov 2012 #6
MessiahRp Nov 2012 #35
sabrina 1 Nov 2012 #44
TheDebbieDee Nov 2012 #53
sabrina 1 Nov 2012 #58
graham4anything Nov 2012 #56
sabrina 1 Nov 2012 #57
Drunken Irishman Nov 2012 #13
bvar22 Nov 2012 #21
dflprincess Nov 2012 #52
sabrina 1 Nov 2012 #45
Champion Jack Nov 2012 #19
Honeycombe8 Nov 2012 #38
El Shaman Nov 2012 #40
Fridays Child Nov 2012 #7
bluestate10 Nov 2012 #8
Fridays Child Nov 2012 #11
WilliamPitt Nov 2012 #14
hrmjustin Nov 2012 #26
xfundy Nov 2012 #27
Sekhmets Daughter Nov 2012 #30
sabrina 1 Nov 2012 #47
Sekhmets Daughter Nov 2012 #29
mfcorey1 Nov 2012 #9
Fridays Child Nov 2012 #12
TwilightGardener Nov 2012 #23
WinkyDink Nov 2012 #10
joeybee12 Nov 2012 #15
DearAbby Nov 2012 #16
2on2u Nov 2012 #17
MotherPetrie Nov 2012 #18
julian09 Nov 2012 #25
MotherPetrie Nov 2012 #33
pipewrench Nov 2012 #60
JI7 Nov 2012 #24
sabrina 1 Nov 2012 #48
xfundy Nov 2012 #28
GeorgeGist Nov 2012 #31
grantcart Nov 2012 #32
xxqqqzme Nov 2012 #36
JEB Nov 2012 #37
El Shaman Nov 2012 #39
hrmjustin Nov 2012 #49
jsr Nov 2012 #41
alittlelark Nov 2012 #42
locks Nov 2012 #46
RomneyLies Nov 2012 #50
KoKo Nov 2012 #51
Hoyt Nov 2012 #54
AnotherMcIntosh Nov 2012 #55
progressoid Nov 2012 #59
Jersey Devil Nov 2012 #61

Response to WilliamPitt (Original post)

Wed Nov 28, 2012, 06:12 PM

1. This is really too bad.

Sigh

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Response to WilliamPitt (Original post)

Wed Nov 28, 2012, 06:12 PM

2. Are Repubs smart enough to raise a frivilous fuss over Benghazi in order to put Dems in a position

of not being able to say "No" to Rice due to Keystone?

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Response to patrice (Reply #2)

Wed Nov 28, 2012, 09:24 PM

43. McCain is blinded with anger over her comments during the 2008 election cycle.

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.

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Response to WilliamPitt (Original post)

Wed Nov 28, 2012, 06:14 PM

3. Oh brother...

If Obama nominates her for SOS, the shit will hit the fan. He might as well nominate Jamie Dimon or Lloyd Blankfein for Treasury ...

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Response to Sekhmets Daughter (Reply #3)

Wed Nov 28, 2012, 06:47 PM

20. Jamie Dimon for Treasury is Warren Buffett's first choice

However, Dimon has repeatedly rejected the notion of serving in the position.

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Response to PennsylvaniaMatt (Reply #20)

Wed Nov 28, 2012, 07:03 PM

22. Buffett must have a wicked

sense of humor.

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Response to Sekhmets Daughter (Reply #22)

Wed Nov 28, 2012, 08:37 PM

34. No, Warren just knows what's in his financial interest. n/t

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Response to WilliamPitt (Original post)

Wed Nov 28, 2012, 06:14 PM

4. Ah Well.

Makes you wonder what the motivating factor is when millionaires want the top jobs.

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Response to WilliamPitt (Original post)

Wed Nov 28, 2012, 06:16 PM

5. I can no longer support her for this position,

Last edited Wed Nov 28, 2012, 06:52 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.

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Response to bvar22 (Reply #5)

Wed Nov 28, 2012, 06:20 PM

6. I continue to support Rice and will resist anyone that attempts to derail the nomination if the

President makes it.

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Response to bluestate10 (Reply #6)

Wed Nov 28, 2012, 08:51 PM

35. Not surprised since you're the one who said Obama has "lost you" if he nominates Kerry for the spot.

Your opinion is duly noted... and hopefully will be ignored.

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Response to bluestate10 (Reply #6)

Wed Nov 28, 2012, 09:29 PM

44. Well, you will be part of a very small minority among Democrats. She is also a war monger

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.

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Response to sabrina 1 (Reply #44)

Wed Nov 28, 2012, 10:25 PM

53. Are you talking about Condi Rice? The Mother Jones article is about Susan Rice.......

the US United Nations Ambassador.

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Response to TheDebbieDee (Reply #53)

Wed Nov 28, 2012, 11:32 PM

58. No, I'm talking about Rice although there are a lot of similarities.

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Response to sabrina 1 (Reply #44)

Wed Nov 28, 2012, 10:53 PM

56. Let's make Elizabeth Warren the SOS for 12 years

 

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Response to graham4anything (Reply #56)

Wed Nov 28, 2012, 11:31 PM

57. That would be fine with me. Except then we'd lose her in the Senate.

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Response to bvar22 (Reply #5)

Wed Nov 28, 2012, 06:30 PM

13. LOL! I didn't know you had a say...

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Response to Drunken Irishman (Reply #13)

Wed Nov 28, 2012, 06:52 PM

21. I guess you're right.

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!

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Response to bvar22 (Reply #21)

Wed Nov 28, 2012, 10:04 PM

52. After Geithner, Holder and Duncan I guess this shouldn't surprise us

It doesn't give me a lot of hope for other appointments.

I had hoped Obama might find his inner Democrat after his reelection...

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Response to Drunken Irishman (Reply #13)

Wed Nov 28, 2012, 09:34 PM

45. Alone, he might not. But he will have lots of company. Watch and see the reaction among

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.

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Response to bvar22 (Reply #5)

Wed Nov 28, 2012, 06:47 PM

19. Agreed

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Response to bvar22 (Reply #5)

Wed Nov 28, 2012, 08:58 PM

38. +1. What a shame. Now we know why the Repubs wanted to box Obama in to nominating her.

It makes it more of a sure thing the pipeline will go ahead.

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Response to WilliamPitt (Original post)

Wed Nov 28, 2012, 06:20 PM

7. This should endear her to Republicans.

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.

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Response to Fridays Child (Reply #7)

Wed Nov 28, 2012, 06:21 PM

8. People don't know what Condi owned because republicans don't actively eat their own. nt

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Response to bluestate10 (Reply #8)

Wed Nov 28, 2012, 06:29 PM

11. Yeah. Too bad our "allies" at Mother Jones didn't look into that, for the sake of...

...presenting some balance and perspective on the subject.

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Response to bluestate10 (Reply #8)

Wed Nov 28, 2012, 06:31 PM

14. She's ours?

Awesome! I own a rich person!

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Response to WilliamPitt (Reply #14)

Wed Nov 28, 2012, 07:20 PM

26. I am still waiting for the free gift that romney said Obama is giving his supporters.

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Response to WilliamPitt (Reply #14)

Wed Nov 28, 2012, 07:23 PM

27. If she has puppies

can I get first pick? Pleeeeeez?

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Response to bluestate10 (Reply #8)

Wed Nov 28, 2012, 07:41 PM

30. Would it have mattered? Have you ever doubted republican support for big oil?

This is not a matter of eating our own. This is a matter of being betrayed by one of our own.

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Response to bluestate10 (Reply #8)

Wed Nov 28, 2012, 09:42 PM

47. They knew that Chevron named an Oil Tanker after her and that she sat on Chevron's

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.

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Response to Fridays Child (Reply #7)

Wed Nov 28, 2012, 07:39 PM

29. Which would explain why they are all but daring

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...

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Response to WilliamPitt (Original post)

Wed Nov 28, 2012, 06:22 PM

9. When Clarence Thomas's goofy butt is dismissed because of his

many conflicts of interest, we will move on to others.

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Response to mfcorey1 (Reply #9)

Wed Nov 28, 2012, 06:29 PM

12. +1

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Response to mfcorey1 (Reply #9)

Wed Nov 28, 2012, 07:05 PM

23. That's true.

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Response to WilliamPitt (Original post)

Wed Nov 28, 2012, 06:23 PM

10. Well! Include me out about HER, now. Sorry. (How'd she make those 10's of millions, anyway?)

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Response to WinkyDink (Reply #10)

Wed Nov 28, 2012, 06:33 PM

15. Yeah, she's filthy rich...how'd she do it? nt

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Response to WilliamPitt (Original post)

Wed Nov 28, 2012, 06:40 PM

16. I agree her nomination with this information - uncomfortable

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.

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Response to WilliamPitt (Original post)

Wed Nov 28, 2012, 06:40 PM

17. It is a strange tragedy that a refinery cannot be built in Canada.... perhaps the ground won't

 

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.

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Response to WilliamPitt (Original post)

Wed Nov 28, 2012, 06:45 PM

18. She has a MAJOR conflict of interest. THIS is what should make her un-nominatable.

 

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Response to MotherPetrie (Reply #18)

Wed Nov 28, 2012, 07:15 PM

25. She can divest herself from those stock, IF SHE IS NOMINATED.

 

The sec of state is central to pipeline decision.

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Response to julian09 (Reply #25)

Wed Nov 28, 2012, 08:32 PM

33. I no longer want her to be nominated, period.

 

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Response to MotherPetrie (Reply #33)

Thu Nov 29, 2012, 02:38 PM

60. +1

too much baggage

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Response to WilliamPitt (Original post)

Wed Nov 28, 2012, 07:10 PM

24. isn't her Husband Canadian ? i'm not sure why this should matter as much as her record

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.

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Response to JI7 (Reply #24)

Wed Nov 28, 2012, 09:46 PM

48. Yes she supported all of Bush's wars and opposed ending them. We now learn she had

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.

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Response to WilliamPitt (Original post)

Wed Nov 28, 2012, 07:25 PM

28. Could we maybe sometimes have someone in Gubmint

That isn't RICH? Please?

Being rich doesn't mean they're smarter than others.

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Response to WilliamPitt (Original post)

Wed Nov 28, 2012, 07:50 PM

31. On one level at least this is hilarious.

Her nomination DOA for good reason.

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Response to WilliamPitt (Original post)

Wed Nov 28, 2012, 08:09 PM

32. What is SOP for a Secretary of State? If they have large assets does it go into a blind trust.


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.


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Response to WilliamPitt (Original post)

Wed Nov 28, 2012, 08:54 PM

36. Well, well,

the plot thickens. Need to keep a watchful eye the progression of this story. See who reports it and who does not.

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Response to WilliamPitt (Original post)

Wed Nov 28, 2012, 08:56 PM

37. Good to know

but McCain is still a demented old fool.

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Response to WilliamPitt (Original post)

Wed Nov 28, 2012, 09:06 PM

39. Blind Trust?

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

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Response to El Shaman (Reply #39)

Wed Nov 28, 2012, 09:47 PM

49. Welcome to DU!

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Response to WilliamPitt (Original post)

Wed Nov 28, 2012, 09:17 PM

41. Pick someone else.

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Response to WilliamPitt (Original post)

Wed Nov 28, 2012, 09:18 PM

42. This reeks of Kabuki Theatre.

Scripted, planned, organized...... Each side will play their 'part'.


.....sigh.......

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Response to WilliamPitt (Original post)

Wed Nov 28, 2012, 09:36 PM

46. Really, really difficult choices

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.

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Response to WilliamPitt (Original post)

Wed Nov 28, 2012, 09:49 PM

50. Was it a blind trust deal?

 

This reeks of "can't get her from an attack from the right, so attack her from the left" deal to me.

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Response to WilliamPitt (Original post)

Wed Nov 28, 2012, 09:54 PM

51. Thanks Will for this Breaking article.. This is so important...and sad in many ways...

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!

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Response to WilliamPitt (Original post)

Wed Nov 28, 2012, 10:30 PM

54. Recons want the pipeline - they might start supporting her.

I need to think about this when I have time. Don't like sound of it though.

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Response to WilliamPitt (Original post)

Wed Nov 28, 2012, 10:45 PM

55. Is this unusual? Does anyone think that all those who voted in favor of the mandatory provisions of

 

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?

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Response to WilliamPitt (Original post)

Thu Nov 29, 2012, 11:13 AM

59. Not good but...

What sort of stock does Hillary own in international companies?

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Response to WilliamPitt (Original post)

Thu Nov 29, 2012, 02:46 PM

61. stick a pin in me

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.

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