Obama's preferred candidate for secretary of state holds major stakes in Canadian oil
The financial disclosure reports of the USA's current ambassador to the UN Susan Rice reveal that she holds major stakes in over a dozen Canadian oil companies and banks all of which stand to profit immensely from the construction of the Keystone XL Pipeline.
On Earth reports that Rice, who is considered a likely candidate for the position of US secretary of state, has a net worth of approximately $33 million of which roughly a third is related to oil producers, pipeline operators and other kindred energy industries in North America.
According to Rice's 2011 financial disclosure report the ambassador also holds anywhere between $300,000 and $600,000 of equity in TransCanada (NYSE:TRP) – the Calgary-based gas giant behind the highly controversial $7 billion Keystone XL pipeline.
These revelations could jeopardize Rice's chances at becoming US secretary of state as her financial interests compromise her impartiality with respect to many of the position's key responsibilities.
These would include new environmental review processes and the decision on whether or not to approve the construction of the Oklahoma to Canada leg of the Keystone XL pipeline.
Rice is believed to be Obama's preferred candidate for secretary of state after Hillary Clinton's planned departure from the position following Obama's second inauguration in January next year.
Image of Susan Rice courtesy of TimeMagazine via Youtube