Ron Johnson, GOP Senate Candidate, Open To Drilling In Great Lakes, Owns BP And Exxon Stock

Republican U.S. Senate candidate Ron Johnson found himself under the political microscope late last week after it was revealed that he owns up to $315,000 in BP stock while he has defended the oil giant against its critics and called for continued offshore drilling.

The Wisconsin businessman -- who is vying, in a closer-than-expected contest, for Sen. Russ Feingold's (D-Wisc.) seat -- has spent the last few weeks trying to temper criticism of BP in the wake of the Gulf spill. Johnson, whom national Democrats like to refer to as the "forgotten Tea Party candidate," has expressed disappointment with the administration's "assault" on BP. At the same time, he's been a vocal advocate for continued and even accelerated oil and gas exploration, going so far as to express an openness to drilling in the Great Lakes.

"The bottom line is we are an oil-based economy," he told the site WisPolitics in mid-June, when asked about drilling in the Great Lakes. "There's nothing we're gonna do to get off of that for many, many years. I think we have to be realistic and recognize that fact and, you know, I, I think we have to, get the oil where it is, but we have to do it where it is."

Those comments and many others make Johnson among the most pro-drilling pols in a Republican Party filled with drilling proponents. But in offering his support for the practice, Johnson didn't reveal that he has serious financial stakes in the continued sucess of BP and the greater oil and gas industry.

On Friday, Johnson filed financial disclosure reports showing that he owns stock in BP worth between $116,000 and $315,000. In addition, he holds stock in Exxon Mobil with a value between $50,000 and $101,000 and stock in Occidental Petroleum worth between $15,000 and $50,000.

How this information didn't surface earlier in the debate over drilling is sort of fascinating. After all, the crisis in the Gulf -- and Johnson's defense of offshore drilling -- has been going on for well over two months. The apparent conflict of interest didn't just suddenly appear.

The Johnson campaign insists that the stocks are just one aspect of a larger financial portfolio; hardly the type of earnings that would persuade or affect his policy positions. But that's a tough sell with voters, who likely don't think of $315,000 as chump change. Not surprisingly, on Monday the Wisconsin Democratic Party is hosting a conference call with reporters to hammer Johnson on this most recent disclosure.

Comments

[saileyboy]

04:56 PM on 09/09/2010

The birthers will have a problem with this Ron Johnson. He is hiding his birth certificate and place of birth. Can't find it anywhere. The best I can determine is either Minneapolis or Canada, as a company he did accounting for has offices in those two places.

But it will be fun to rattle the cages of local birthers about this little inconvenience. We also don't know his academics - schools or grades. Hmmm, the right are bugged about President Obama locking his school records away but what will they say about this?

[eirrac]

08:24 PM on 08/30/2010

Sam Stein, thanks for writing this. Many of us in Wisconsin have been concerned about Ron Johnson, but we can't seem to get some Wisconsin Republicans to believe that Johnson thinks oil drilling in the Great Lakes would be okay, nor do they want to believe that he has affiliations with BP. Maybe they'll think about it if someone from outside our state confirms what we've been trying to tell them.

[ZeraLee]

04:30 PM on 07/15/2010

Fresh water is already becoming more scarce. States have been fighting over water rights for years. The Great Lakes are already facing threats from invasive plants and fish. We *really* do not need to develop new ways to contaminate our natural resources. This is the worst drinking water endangerment idea I have heard since hydraulic fracturing in the New York watershed. Permanently poisoning the entire water supply for New York City is a risk that cannot be shrugged off.

Republicans are great at creating new problems, but I cannot remember the last time they actually solved one.

[Lark817]

03:25 PM on 07/15/2010

My post below was supposed to be a reply to another poster. Don't know how it got here, oops.

[Lark817]

03:24 PM on 07/15/2010

I appreciate the effort you went to the prove your point. I just want to say that if you don't add to the problem, you become part of the solution. My husband and I have been looking at this website:

http://www.greenchipstocks.com/articles/green-stocks/909

[ennis438]

05:39 PM on 07/14/2010

We will never get over our addiction to oil if lowlives like Johnson are elected to Congress.

[realitycheckers]

05:13 PM on 07/14/2010

It's not so much the stock he makes a killing on, it's the bribes. :P

[cmurphy1]

04:32 PM on 07/13/2010

So he wants to despoil the greatest source of freshwater on the planet to pad his own pockets? Reprehensible. Also, I thought there were huge salt beds under the Great Lakes, not oil. I could be wrong, but I have lived close to Lake Michigan for many years and always heard that. Also copper by Lake Superior.

[hellboundtrain]

04:21 PM on 07/13/2010

It is a miserable human that would put at risk the the world's greatest supply of fresh water with oil drilling. Ron Johnson and those like must be defeated.

[westfake]

03:33 PM on 07/13/2010

[Oshkosh, WI] Following continual efforts by Democrats to use oil drilling as a wedge issue to save their election chances this fall, U.S. Senate Candidate Ron Johnson issued the following statement regarding drilling in the Great Lakes:

“The 2005 Energy Bill, which Russ Feingold voted against, outlawed drilling in the Great Lakes. I would not support any efforts to overturn the provision which outlaws drilling in the Great Lakes as Wisconsin’s next U.S. Senator. Let me repeat: I would reject any and all efforts to drill in the Great Lakes.”

So, Fiengold approves of drilling in the Great Lakes since he opposed the bill in 2005 banning drilling in the Great Lakes. Look at the history of the incumbent. Votes along party lines when they need it and turns mavericky when not needed. See ya SOB Russ.

[jgdesr1]

02:09 PM on 07/13/2010

You are not drilling in my backyard, you SOB! The Great Lakes are the only (arguably) clean, fresh water serving at least 15 different states, plus several provinces in Canada. And now you are willing to contaminate that water simply to push the value of your BP stock higher.

Not in my backyard!

[StanleyBing]

01:20 PM on 07/13/2010

"Huffpost reporting"


roflamo

[babyboomerorig]

01:11 PM on 07/13/2010

WI residents aren't familiar with these desires of Johnson....but they will be.

All I can say about drilling in the Great Lakes is WTF? The largest inland fresh water supply in the country and this arsehole wants to let people drill....idi.ot.

[Ira Meyers]

01:01 PM on 07/13/2010

Russ is one of the really good guys in government, if he loses to this bagger it will send a message that being smart, honest, and trying your best does not matter. Just keep lieing because the public is to interested in there new Iphones or Dancing with the Stars.

[NoSillyName]

12:59 PM on 07/13/2010

UTTER LUNACY!!