As reported in the Virginian-Pilot [1]and the Daily Press [2] today, financial information from federal candidates for election have been reported and I discovered that candidate Glenn Nye, a strong advocate for redirecting subsidies for energy companies to be used for energy research holds several stocks in the energy production sector. I called the Nye campaign to explain this dichotomy.
“Glenn is advocating against his own financial best interest for the benefit of the country,” explained Rick Fromberg, Nye’s campaign spokesman. “It’s important to elect politicians who will put party aside and put what is in the best interest of the nation at the forefront.”
Fromberg explained that Nye’s energy policy discounts political games that are played in Washington — games that have gotten us into this energy crisis to begin with. He says that voters are looking to send people to DC who are seeking rational solutions to our nation’s most pressing problems.
I also had the opportunity to catch up with Corry Bliss, Drake’s campaign manager and spokesperson, who, as you would expect, has a different perspective.
“Glenn Nye claims that oil companies are evil and gouging people while at the same time trying to seek profit from the very practices that he blames for the outrageous price of gas. Nye’s policies will not only increase the price of gas, but make America less competitive by forcing American jobs and businesses to move overseas,” says Bliss. “On the other hand, Thelma Drake’s energy policy seeking to increase domestic oil production in the short-term while investing in alternative energy sources such as wind, solar, and nuclear in the long-term will not only lower the price of gas, but help jobs and business in America. I think Glenn Nye has some explaining to do and should sell his stock immediately.”