House Dem on Climate Change Caucus Profits Handsomely From Oil and Gas Investments

A Democratic A member of the congressional caucus fighting climate change is making huge profits. Oil and Gas According to records reviewed and approved by the Washington Examiner.

Rep. Lois Frankel will be a Join us Safe Climate Caucus. This Caucus has targeted the fracking sector and aims to reduce it. “to solve the important issues facing our country because of climate change.”

AOC HEATS ON TWITTER DUE TO SUGGESTING A LINK BEHIND GAS STOVES and BRAIN DAMAGE

However, Florida Democrat’s alleged commitment to preventing the next world from falling Climate change She paid $195,000 to purchase shares in six oil-and-gas companies, whose values have skyrocketed, according to filings.

“Regardless of party, we call on all Congressional [leaders] elected to divest from the fossil fuel industry and to be real climate champions,” Thanu Yakupitiyage spokeswoman for 350.org. This left-leaning group supports transitioning to green energy and ending fossil fuels. Washington Examiner. “Any politician with holdings in the fossil fuel sector cannot say that they support climate action.

“We expect all Congressional leaders to adhere to a fossil-free pledge,” She added that she was referring to an We are in agreement Some Democratic lawmakers have refused to accept $200 in donations from oil, gasoline, or any other source. coal Industry executives and lobbyists, as well as members of political action committees.

Frankel bought Diamondback Energy worth up to $60,000 between March 2020 & December 2022. TexasA company that produces oil and natural gas in the United States, which has earned more than $6.7 billion Revenue In 2021. According to disclosures, she also sold the stock for up to $30,000, disclosures reveal.

Diamondback Energy shares have risen by more than 15% over the past year and are now worth $151 per share. According to filings Frankel’s combined purchases totalled $105 per Share.

Frankel also purchased ConocoPhillips worth up to $45,000 between March 2020 – July 2022. 2019: Guardian The multinational HoustonHydrocarbon exploration company based in Canada was responsible for 0.91% global greenhouse gas emissions between 1998 and 2015.

ConocoPhillips trades at more than $124 per share, an increase of more than 10% since last year. According to filings, Frankel’s trades totalled more than $57 each share.

“These investments are seriously concerning and show the deep hold that oil, gas, and coal interests have over our financial and political system,” Colin Rees is the political director of Oil Change U.S.A, an anti-fossil fuels organization. Washington Examiner.

The congresswoman said that she had spoken to the Washington Examiner She said that her trades were “managed independently by a money manager who buys and sells stocks at his discretion.”

Frankel did seem serious about the target of the fossil fuels industry with her pro-green energy She would then tell her money manager that she does not want to invest large amounts in oil and gas stocks. This is according to Myron, director of The Center for Energy and Environment at Competitive Enterprise Institute. It’s a free-market thinktank.

“Hypocrisy is not in short supply anywhere in humankind,” He spoke to the Washington Examiner. “Perhaps it’s even more prevalent among our elected leaders. She made a bet on these stocks, and, boy, has that paid off.”

Kendra Arnold, executive Director of the Foundation for Accountability and Civic Trust was a right-leaning watchdog and said Frankel’s “independent money manager” Claim “has no value.” This is because members have the legal right to communicate with their managers regarding trade preferences. “fully aware” They are used to invest in.

Frankel purchased up to $30,000 of stock in October 2022 HalliburtonThe ties of a major fracking company to a terrorist organization have come under scrutiny. George W. Bush’s The presidential administration. According to filings, Halliburton currently trades at more than $40 per share and Frankel’s shares are sold at more than $33 per share.

Halliburton You have agreed to pay A $382 million fine was imposed in 2009 for KBR’s then-subsidiary in relation to bribery of top Nigerian officials in 1994 and 2004. The Houston company These are the goals Climate groups have criticized climate groups for failing to comply with their call for a 40% reduction in emissions by 2035. Environmental Protection Agency Information is required about the chemicals used to frack.

Frankel also purchased up to $105,000 in combined shares of PBF Energy, Hess Corporation and Pioneer Natural Resources between May 2020-2022. According to records, she also sold $75,000 in combined shares of these companies.

PBF Energy stock has increased by more than 16% since the beginning of the year, Pioneer Natural Resources stock has increased by over 7% and Hess Corporation stock by over 16%.

“Anyone who looks at the data can clearly see that an all-of-the-above, made-in-America approach to energy policy — which includes oil and gas — is the most environmentally responsible approach,” Bruce Westerman, Republican of Arkansas, was the chairman of the House Natural Resources Committee. Washington Examiner. “While it’s disappointing to see the Left’s hypocrisy when it comes to energy, it’s certainly not surprising.”

Frankel also purchased other fossil-fuel-backed stock in the past, including utility companies that depend on the oil-and-gas industry. Dominion Energy is Duke Energy, PPL Corporation Southern Company and Portland General Electric are all examples.

Frankel can be found on her congressional website. Lists “protecting the environment” It is a major issue. The congresswoman was particularly notable Contra Former President Donald Trump Take action to pull the United States out Paris Climate AgreementAmerica joined the UN Climate Change Initiative in 2015. It sets voluntary targets to countries for reducing greenhouse gas emissions. President Joe Biden The U.S. was also added Back to the agreement on his very first day in office.

Frankel also Tweet Green energy is worth investing in “will drastically reduce carbon emissions, while also creating jobs & growing our economy.”

She was a supporter of Biden’s campaign. Create a Better ActA failed $1.7 trillion spending bill which invested hundreds of millions in climate initiatives. Later she voted for the Inflation Reduction Act which was a $740 billion climate and energy spending bill. Bill Biden was elected to the Senate in August 2022.

CLICK HERE TO READ MORE ABOUT THE WASHINGTON EXAMINER

The Safe Climate Caucus commended the Clean Power Plan. Obama-era policy ruled In June 2022, the attempt to reduce greenhouse gas emissions by carbon dioxide regulation was declared unconstitutional. The Supreme Court held that the EPA’s plan was overextending its authority — which critics It would be detrimental to job growth and creation.

“Confronting the climate crisis requires weakening Big Oil’s political power, and divesting from destructive industries like fossil fuels is a key requirement for any elected official’s credibility on energy issues,” Rees is the Oil Change U.S. director of politics. “Big Oil’s influence is a major problem in our political system and a key obstacle to addressing the climate crisis.”