Originally posted on National Post | News:
WASHINGTON — Susan Rice’s would-be path to the U.S. State Department hit another snag on Wednesday following revelations that she owns significant stock in Calgary-based TransCanada, the energy giant hoping to win approval from the Obama administration to build its Keystone XL pipeline.
The State Department is in charge of making a final decision on the US$7-billion pipeline since it crosses an international border.
If Rice, the current U.S. ambassador to the United Nations, is tapped to be Hillary Clinton’s replacement as secretary of state — and subsequently survives the nomination process in the U.S. Senate — she’d be in a potential conflict-of-interest situation.
As first reported by On Earth, an environmental news website affiliated with the Natural Resources Defence Council, Rice holds substantial investments in several Canadian oil companies and financial institutions.
Many of them stand to gain from both the pipeline and the expansion of Alberta’s…
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