Dem Congressional Candidate Bashes Big Oil, But Invested Heavily in Crude Oil Dem Congressional Candidate Bashes Big Oil, But Invested Heavily in Crude Oil – NTK Network

Dem Congressional Candidate Bashes Big Oil, But Invested Heavily in Crude Oil

Harley Rouda has denounced Big Oil, but is reported to have invested as much as $500,000 in crude oil.

By NTK Staff | 05.18.2018 @4:42pm
Dem Congressional Candidate Bashes Big Oil, But Invested Heavily in Crude Oil

Harley Rouda, a Democratic congressional candidate running in the primary for California’s 48th Congressional District, has campaigned vigorously against the oil industry. But, according to Rouda’s financial disclosure report, he has invested as much as $500,000 in crude oil.

Think Progress reported:

“According to Rouda’s August 2017 financial disclosure report, he owned as much as half a million dollars in shares of Ultra Bloomberg Crude Oil stocks, a managed futures fund pegged to the price of crude oil. Rouda’s campaign website, by contrast, says he’s committed to protecting the California coastline from offshore oil drilling.”

This investments by Rouda stands in contradiction to the image that the California businessman is attempting to portray to voters on his campaign website. According to Rouda’s campaign website:

“Harley Rouda will move Orange County forward by investing in clean energy and green-tech jobs. While Donald Trump and Dana Rohrabacher want to take us backwards with off-shore oil drilling Harley Rouda will support renewable energy like wind and solar.”

“Harley Rouda has made environmental protection and fighting climate change a central issue of this campaign,” a spokesperson for Rouda told Think Progress. “At no point has Harley invested in Big Oil. Throughout the campaign Harley has pledged to not take money from Big Oil, Big Tobacco, Big Pharma or the gun industry.”

Rouda has been endorsed by the Democratic Congressional Campaign Committee (DCCC) and the Sierra Club. It’s unclear if these investments will affect the endorsements.

Sign Up

for NTK updates every week.


View Privacy Policy