NEWS

Financial Disclosures Showcase Kansas Senate Candidates’ Investment in Energy Companies

Bret Hendry | October 29, 2014

October 29, 2014 -- Oil and gas production constitutes the second largest sector of the Kansas economy, but the state's 2014 Senate candidates have failed to discuss the energy industry this midterm season. Republican incumbent Sen. Pat Roberts is locked in a close race with independent businessman Greg Orman after the Democratic candidate dropped out. Sen. Roberts' support for the oil and gas industry is well-known, but Orman has largely avoided commenting about his views on oil and gas production.
 
MapLight's Personal Financial Disclosure database demonstrates how members have used their own personal wealth to support the oil and gas industry. Orman's immense real estate wealth has drawn considerable attention, but he also owns stock options in at least four energy companies, including BP, Schlumberger, and Valero Energy, and has an ownership stake in five oil and gas well entities in Texas. 
 
Sen. Roberts and his wife have also invested in energy companies, disclosing ownership in at least three producers including Chevron and Duke Energy.  Both Orman and Roberts, along with 44 other members of Congress, own stock in ExxonMobil, the second highest producer of gas in Kansas. In 2013, members of Congress owned between $4.9 million and $13.5 million worth of stock in ExxonMobil, one of the largest companies in the world.
Below is a MapLight analysis of the 2013 personal financial disclosures of members of the 113th Congress to identify the ‘top 10’ most popular company stock holdings and total amounts held*:
* Exact amounts are usually unknown; personal financial disclosure forms provide a fixed range of values with which to record the amount of an asset held.

Editor's note: If you use MapLight data, please cite us. MapLight is happy to provide additional details to journalists regarding specific PFD data and to perform custom research inquiries. Please do not hesitate to call us if we can be of assistance.

Methodology: MapLight analysis of 2012 and 2013 personal financial disclosures for members of the 113th Congress. Data source: Office of the Clerk, U.S. House of Representatives and Office of the Secretary of the Senate, U.S. Senate. Senate and House rules require the disclosure of assets belonging to the filers' spouses and/or dependent children, and these assets are included in the analysis. This analysis specifically investigates stocks and does not include other types of assets such as corporate bonds, notes, or bank deposits.

Photo via Brendan Steele/Shutterstock



* Exact amounts are usually unknown; personal financial disclosure forms provide a fixed range of values with which to record the amount of an asset held.

Editor's note: If you use MapLight data, please cite us. MapLight is happy to provide additional details to journalists regarding specific PFD data and to perform custom research inquiries. Please do not hesitate to call us if we can be of assistance.

Methodology: MapLight analysis of 2012 and 2013 personal financial disclosures for members of the 113th Congress. Data source: Office of the Clerk, U.S. House of Representatives and Office of the Secretary of the Senate, U.S. Senate. Senate and House rules require the disclosure of assets belonging to the filers' spouses and/or dependent children, and these assets are included in the analysis. This analysis specifically investigates stocks and does not include other types of assets such as corporate bonds, notes, or bank deposits.

Photo via Brendan Steele/Shutterstock

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