AP: Richardson defends stock holdings in refining company
Tags: 2008 | Bill Richardson | Environment | in the news
May 17, 2007
Democratic presidential candidate Bill Richardson has defended his six-figure stock holdings in a Texas-based refining company.
The New Mexico governor disclosed earlier this week that he owns stock in Valero Energy Corporation.
It’s worth between $100,001 and $250,000.
He also holds stock options valued between $250,001 and $500,000 for sitting on the company’s board of directors between March 2001 and June 2002.
He says that’s all he owns from serving as a board member once he ended his tenure as energy secretary under President Clinton.
In his words: “I had to earn a living after I left the Clinton administration.”
He revealed the stock options the day he presented a plan to reduce U.S. dependence on oil.