The Corner

Report: Susan Rice Holds Major Stakes in Canadian Oil Companies, Would Profit from Keystone Pipeline

According to a report from OnEarth, which cites U.N. ambassador Susan Rice’s financial-disclosure reports, the potential secretary of state nominee holds significant stakes in several Canadian oil companies and banks that would benefit enormously from the construction of the Keystone XL pipeline. The construction of the pipeline was blocked by the State Department earlier this year, but, if nominated and confirmed as secretary of state, Rice would be involved in the postponed approval process. 

Rice, whose net worth is estimated around $33 million, owns between $300,000 and $600,000 worth of stock in TransCanada, according to her 2011 financial disclosure report. TransCanada is the original developer and sole owner of the Keystone Pipeline project. The company has already started building the southern section of the pipeline, and continues to seek government approval to build the northern portion.


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