Wonder what you would find if you frisked San Francisco’s “eco-conscious” Mayor Gavin Newsom and his investments?
Answer: Oops! He owned a piece of the deepwater oil rig at the bottom of the gulf.
It turns out that San Francisco’s eco-conscious Mayor Gavin Newsom and his wife, Jennifer Siebel Newsom, own a piece of the deepwater rig at the center of the gulf oil disaster.
According to the mayor’s most recently filed economic disclosure statement, last year the couple invested between $10,000 and $100,000 in Transocean Inc. – the company whose ruptured deepwater rig, which is leased to BP, is spewing millions of gallons of oil, endangering wildlife and beaches all along the Gulf Coast.
Just last month, Newsom told the San Diego area East County Magazine that “the environmental catastrophe devastating the Gulf of Mexico is a tragic reminder of why we must take a stand against the oil companies and oppose all offshore drilling off California’s precious coast.”
The Jennifer Lynn Siebel Trust also listed a half dozen other $10,000-to-$100,000 energy-related investments, including stock held last year in three companies involved in oil and gas exploration: Dorchester Minerals, Resolute Energy and Schlumberger Ltd.
The portfolio also includes stock in Petroleo Brasileiro, Brazil’s largely state-owned oil company that has been looking to the United States to help finance exploration of a huge offshore oil discovery near Rio de Janeiro.
In all, the couple’s 2009 trust portfolio listed 43 investments that, in addition to energy, included some of the biggest players in finance, pharmaceuticals, telecommunications and health care. The trust produced more than $100,000 in income last year for the couple, according to the report.
Can anyone say: liberal hypocrisy? Yep… I believe it has struck again, but what else is new?
Hey Mayor Newsom, I suggest you should… (click here to find out)