Susan Rice Stake in Keystone Pipeline Could Be Stumbling Block in Confirmation Hearings

UN Ambassador Susan Rice holds a stake in TransCanada, the company seeking an American permit to build the proposed the Keystone XL pipeline, the NYT reports:

RiceAccording to financial disclosure documents filed in May, Ms. Rice owns from $300,000 to $600,000 worth of stock in the Canadian pipeline company. Because the State Department oversees transboundary pipelines, the Secretary of State is ultimately responsible for determining whether Keystone XL should go forward.

But her stock holdings in TransCanada,  first reported by the Sunlight Foundation and, an environmental publication affiliated with the Natural Resources Defense Council, would surely complicate the issue.

According to the United States Office of Government Ethics, federal law requires executive branch employees to be recused from matters “if it would have a direct and predictable effect on the employee’s own financial interests or on certain financial interests that are treated as the employee’s own.”

Congressional Republicans are no doubt salivating.

The WaPo published a lengthy profile on Ms. Rice yesterday, noting that "every little thing about the 48-year-old Rice matters now that she’s the presumptive front-runner to replace Hillary Rodham Clinton as secretary of state."


  1. realitythink says

    Not sure they’ll be able to attack her for this one.
    “It was reported here, here, and here that Boehner owns stock in seven Canadian tar sand companies and stands to make financial gains if the pipeline is built. Boehner’s financial disclosure shows he purchased stock in Canada’s tar sand companies in 2010, so it is no stretch of the imagination to assume he bought stock in time to profit from the pipeline’s construction, and it explains his rabid push to get it started.”

  2. swellster says

    It would be ironic if the Republicans block her because she owns stock in a company that THEY want to succeed. They very much want this pipeline. THEY are pushing for it.

  3. Zell says

    After what she said about Palestine I personally hope her appointment is blocked. And frankly, having stake in the keystone pipeline is inappropriate. Let’s hold democrats to the same standards we hold republicans and not merely assume that they will act ethically simply because they belong to our party.

  4. Derrick from Philly says

    “Greetings Mr Secretary of State John Kerry.”

    Andrew, you’re probably right. But does that also mean, “Greetings Senator Scott Brown” in a special election.

    Why can’t Massachusetts allow their governor to appoint a replacement? Aint democratic, hunh? Bullsh.t.

  5. andrew says

    @Derrick: Hopefully Scott Brown is still a long shot. As a believer in democracy, I would rather see the people chose Sen Kerry’s replacement than have the governor appoint someone.

  6. andrew says

    @Derrick: Hopefully Scott Brown is still a long shot. As a believer in democracy, I would rather see the people chose Sen Kerry’s replacement than have the governor appoint someone.

  7. Chitown kev says

    @Derrick From Philly

    As an appointer, the governor could be a David Patterson but also a Rod Blagojevich.

    I’d much rather an election was held with someone filling the seat until the special election.

  8. says

    I can accept the “The CIA told me…” excuse for why she said what she said about Libya for two reasons. Plausible story and politics are cut throat and the opposing party will attack from every direction (which we did witness here). Rice went off initial reports and was slammed for it being wrong; Obama waited for all the information to be in, and was criticized for taking to long to talk about the attack. There’s no winning when people both sides like that. And before you declare it only republican problem, it’s all politicians; they’re all scumbags.

  9. aneas taint says

    Republicans aren’t going to care or challenge her about the pipeline. They don’t even really care about her “role” in the Benghazi saga; they just want her out and Kerry in so they can get that Mass. Senate seat back.

    But I – and any true liberal and/or environmentalist – should want her out of the running for SOS because of her pipeline conflict of interest. Really, that is a deal breaker for me. And even if it wasn’t, I would be pissed about the Palestine thing too.

  10. Diogenes Arktos says

    @Derrick from Philly: Blame it on the Democrats during the Romney governorship. The Democrats feared Romney would appoint a Republican so they passed legislation for a special election. Then when it came time to replace the soon-to-be-late Sen Kennedy, the Democratic governor and Democratic legislature realized that the Democrats had screwed themselves. Hence, legislation was passed to allow the temporary appointment of a replacement before the special election. This allowed the Democratic governor to appoint a Democrat – who was the crucial vote to pass Obamacare – before the special election was held.

  11. Luke says

    I did have Susan Rice’s back until I heard about this. It all seems shady to me.. If she sells her share in this then that would be a good step, but I think the damage is already done. She stands to make millions off of this. Hi John Kerry.

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