Posted on 08/18/2007 1:10:29 PM PDT by NormsRevenge
The new chairwoman of the California Air Resources Board owns stocks in several oil, coal and utility firms, some of which are likely to be affected by rules the agency implements as part of the state's groundbreaking law to fight global warming, The Chronicle has learned.
Mary Nichols' stock holdings include shares in oil giants Chevron Corp., BP PLC and Royal Dutch Shell, as well as a stake in a Bermuda tanker company that transports crude oil, according to economic interest statements she filed this week.
She also owns stock in the world's largest coal company, Peabody Energy Corp., along with utilities including Edison International, whose subsidiary, Southern California Edison, serves most of the Southern California electricity market.
In total, she and her husband, John Daum, an attorney who represents Exxon in the ongoing Exxon Valdez oil-spill case, have a financial stake in 13 energy-related firms in a diversified stock portfolio that contains 84 companies, according to statements she filed on Tuesday with the state Fair Political Practices Commission.
The air board is expected to consider wide-ranging regulations that will affect what kind of fuel motorists pump into their vehicles and help dictate what sources of energy utility companies can use to generate electricity.
Nichols told The Chronicle this week that she realized there would be a conflict of interest when she filled out the economic disclosure form shortly after Gov. Arnold Schwarzenegger announced her appointment on July 3. But rather than divest holdings, she said she plans to put her investments in a blind trust and to have that in place before the next air board meeting, which is set for Sept. 27.
(Excerpt) Read more at sfgate.com ...
This could be a problem, but only if she’s a Republican.
It won't be a problem--Arnie never appoints Republicans. ;-)
Ping.
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