Rice Stands to Profit From Keystone XL

She's heavily invested in TransCanada, would make call as secretary of state
By Kevin Spak,  Newser Staff
Posted Nov 29, 2012 12:37 PM CST
Susan Rice leaves a meeting with Senate Republicans on Capitol Hill, Nov. 28, 2012.   (AP Photo/ Evan Vucci)

(Newser) – Just when you thought Susan Rice's rumored secretary of state candidacy couldn't get any more contentious, OnEarth has spotted documents indicating that the ambassador currently holds stock valued between $300,000 and $600,000 in TransCanada, the company behind the Keystone XL pipeline. Indeed, about a third of Rice's net worth is invested in Canadian oil producers, pipeline operators, and other energy concerns, including some with lousy safety records. One of Rice's first tasks at the State Department would be deciding the fate of the controversial pipeline.

"It's really amazing that they're considering someone … who has millions invested in these companies," one activist said, adding that the State Department is "rife with collusion" with Canadian oil already—a TransCanada lobbyist was, for instance, a Hillary Clinton campaign official. Of course, Politico points out that ethics rules require officials to shed stock pertaining to their duties or else recuse themselves from related decisions, and Rice vowed in 2008 not to participate in matters with "a direct and predictable effect on my financial interests." For more on the story, check out Daily Intel. (Read more Susan Rice stories.)

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