Susan Rice, a top candidate in the race to become Joe Biden’s running mate, is under increasing control of progressives for her deep financial ties to the Keystone Pipeline and other fossil fuel and energy companies.
Rice, the former national security adviser to President Barack Obama, had invested in at least five such companies, including as much as $ 100,000 in TransCanada, the company that owned the controversial Keystone Pipeline, according to its latest public financial statement.
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She also mentioned more than $ 1 million invested in the Candian pipeline firm Enbridge and more than $ 2 million divided between three oil companies that have been active in the oil sands of northern Alberta: Cenovus Energy, Imperial Oil and Encana Corp. (formerly re-launched as Ovintiv Inc.).
“It’s obviously disappointing,” Natalie Mebane, associate director of U.S. policy at environmental finance nonprofit 350.org, told Fox News. “We strongly believe that it is as pension funds, as banks or insurance companies as individuals, that we should do our best to distill fossil fuels, because that is what it still encourages, in terms of new projects.”
This is not the first time Rice has been criticized for its extensive investments in the fossil fuel and energy sector. In 2012, in the wake of her failed bid to replace Hillary Clinton as Secretary of State, activists circulated a petition urging Obama to select someone else.
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Currently, her revelations show that she and her husband, whose combined net worth is estimated to be between $ 23.5 million and $ 43.5 million, had invested as much as $ 600,000 in TransCanada. It also held shares in Enbridge, Encana and Cenovus, as well as Chesapeake Energy, Devon Energy and Royal Dutch Shell.
“Their massive financial stance in the extraction of tar sands in Canada – as in many other fossil fuels as disclosed by the Natural Resources Defense Council – exposes their blatant disregard for environmental protection as the need to shift our energy consumption to sustainable,” he said. read petition.
In her 2019 book, “Tough Love: My Story of the Things Worth Fighting For,” Rice described the negative media coverage she experienced for her holdings while being considered for the position. “This was a particular red herring, because all I needed to do was decipher myself, which I did as a national security adviser,” she wrote.
Due to her role in the Obama administration’s response to the 2012 terrorist attack on Benghazi, Rice eventually lost the position to John Kerry.
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Should Rice end up as vice president, she would be the first Black woman to ever have the office. Prior to joining the Obama administration, Rice worked for McKinsey & Co., the international consulting firm whose operations are generally kept secret, and served in the Clinton administration.
Mebane said she would expect Rice to forfeit her large holdings in the fossil fuel and energy sector if Biden tapped her as vice president.
“It would be absolutely necessary,” she said.
Biden has signed up with a $ 2 trillion climate change plan that would stimulate clean energy and rebuild the nation’s crumbling infrastructure. The climate initiatives came after a joint task force created by Biden and progressive sen. Bernie Sanders, I-Vt., Unveiled lengthy policy recommendations.
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