Susan Rice, the candidate believed to be favored by President Obama to become the next Secretary of State, holds significant investments in more than a dozen Canadian oil companies and banks that would stand to benefit from expansion of the North American tar sands industry and construction of the proposed $7 billion Keystone XL pipeline.
Decreasing foreign oil dependency is his goal-she has the DD under her belt already possibly making her most qualified. Her investments go into a blind trust (if you could be blind after you made the buys yourself). She's loyal so far-he'll fix it or make her special adviser or something.
she got caught with her hand in the cookie jar
Susan Rice's would-be path to the U.S. State Department hit another snag on
Wednesday following revelations that she owns significant stock in Calgary-based TransCanada, the energy giant hoping to win approval from the Obama administration to build its Keystone XL pipeline.
The State Department is in charge of making a final decision on the $7 billion pipeline since it crosses an international border.
If Rice, the current U.S. ambassador to the United Nations, is tapped to be Hillary Clinton's replacement as secretary of state — and subsequently survives the nomination process in the U.S. Senate — she'd be in a potential conflict-of-interest situation.
As first reported by On Earth, an environmental news website affiliated with the Natural Resources Defence Council, Rice holds substantial investments in several Canadian oil companies and financial institutions.
Many of them stand to gain from both the pipeline and the expansion of Alberta's oilsands.
Financial disclosure records show that Rice, who's married to a Canadian, owns stock valued between US$300,000 and $600,000 in TransCanada (TSX:TRP).
The records also show that about a third of Rice's personal wealth — estimated to be as high as $43 million — is tied up in oil producers, pipeline operators and other Canadian energy companies.