Kerry described as "obsessed" with climate bill that is likely to have a favorable impact on his own energy investments

Last year, in his ongoing struggle to remain relevant, Senator John Kerry (D-Mass) took the legislative reins on the contentious issue of climate change. Now Kerry, against the backdrop of an oil-soaked Gulf, is hoping to ride the current crisis to push his American Power Act to the top of the Democrats' legislative agenda and propel himself back into the national spotlight.

Tuesday's White House meeting with key administration officials and senators presents Kerry with his best chance to convince the Democratic leadership that his APA will end U.S. dependence on foreign oil while simultaneously encouraging economic growth and job creation.

Kerry has campaigned unusually hard for the bill, berating Senate colleagues on both sides of the aisle, often cornering and lecturing them on the imminent perils of climate change and the necessity of his bill. "He's so obsessed," one beleaguered Democratic senator told Politico. "Clearly it's all climate, all the time with him." A former Senate Democratic aide was asked if he knew the source of Kerry's persistence. "He's not the centrist who normally does the kinds of deals like this," the aide responded. "It's unclear why he's emerged as a central player on climate other than his interest in the subject."

(clip)

According to Senator Kerry's statements for the last fiscal year, as of December 31, 2009, he and his wife owned large stakes in numerous prominent energy companies, many of which are currently lobbying Congress for legislation aimed at energy reform and stand the most to gain from passage of the APA. Yeatman and Lott singled out GE, BP, ConocoPhillips, Dupont, and Exelon as among the big winners in the APA scheme. GE in particular has been a staunch advocate of the APA. Surprisingly, or not, Kerry holds about $20 million worth of investments in all of these companies, among a slew of other energy sector giants.

For example, Senator Kerry reported owning up to $750,000 in GE; BP shares valued between $350,000 and $750,000; upwards of $350,000 in Petrobras (the state-owned Brazilian oil powerhouse); $100,000 in Suncor Energy; $500,000 in Rio Tinto; $650,000 in ConocoPhillips; $750,000 in Total (an offshore oil, natural gas, and alternative energy company); $500,000 each in Dresser-Rand Group and Consol Energy; and as much as $1,000,000 each in Ultra Petroleum Corp, Chicago Bridge and Iron, Newfield Exploration Inc., Noble Energy Inc., Roper Industries, Smith International Inc., Thermo Fisher Scientific, Ansys Inc., and Praxair Inc.

From these investments Kerry accrued anywhere from $753,000 to roughly $5 million in unearned income from dividends and capital gains in the last year alone. In one instance, Senator Kerry sold his stake in Apache Corp. for a nifty dividend of up to $1 million. Kerry was not available for comment on this story.

Such investments among lawmakers are all too common. The Washington Post recently reported that almost across the board, congressmen hold a disproportionately high amount of assets in those industries they directly regulate or craft legislation for. For example, those on the House Agriculture Committee held larger than average holdings in agriculture. Key members of the Senate Banking, Housing, and Urban Affairs Committee, the House Homeland Security Committee, and the House Energy and Commerce Committee held above average holdings in the industries under their jurisdiction.