John Kerry discloses millions in income from energy firms, oil companies

this is not about ideology this is not great power competition this is about science and what the science is telling us climate change is about survival of the planet every nation has a stake in the outcome of the climate issue that of course is john kerry president biden's climate czar the man responsible for saving the planet now in that role it's likely he'll maintain a pretty significant influence over u.s energy and environmental policy the new report details kerry's previous business ties to a number of firms in the environmental energy space following his time as secretary of state including consulting fees for the rise fund a firm with a significant renewable energy portfolio joining me now to discuss this is former deputy security advisor national security adviser casey mcfarland casey thanks for joining us oh thanks jerry you know i'm going to tell you this stinks to hi kevin as the senior official of the biden administration john kerry should have to abide by the white house got ethics guidelines and you know his argument is well he's complied he stole the investments that he had in it and or is going to in a timely fashion the problem is he's already made the money you know by this huge infrastructure bill the stocks in all these companies have already gone up so by selling them after three months six months eight months to comply he's already made his fortune so you know i think it just stinks to high heaven i can tell you when i was a member of the trump administration we had to divest everything we could only invest in government bonds treasury bonds or in government approved blind trust um so i think that somebody's giving him a ride yeah exactly the rules are aren't they meant to be pretty clear that these these divestitures are required you know john kerry is a very wealthy man and it's hard to imagine that anything that anything that he does everything that he does uh as in his role as climate czar is going to have some impact positive or negative on on energy companies particularly group positive on green energy companies and it's extraordinary as you say that even if even if you want to divest now that he's had these uh investments and that he's had them at a time when they they've already benefited from from a lot of what the president's been proposing yeah and it's actually even worse than this because he used to own enter he used to own stocks and oil and gas companies he stole those he's built those in a very fashion before those went down look the whole thing is it's up to the government ethics department and they have a lot of discretion on what they say well this is allowed this isn't allowed and for john kerry to say well i'll recuse myself they're going to spend six trillion dollars yeah and she said there's very little you can be invested in that isn't going to somehow benefit from this windfall and you you mentioned his investment in oil companies as you said it's interesting it's a kind of it's like he's been practicing a form of arbitrage isn't it by by selling by selling his oil stocks while maintaining his green energy stocks and then his green energy investments rather and then coming along uh and you know recommending presumably to the president a whole series of policies that will favor green energy and disfavor oil yeah he's played both sides but the interesting thing is the ones he's divested himself of are the oil and natural gas the ones he apparently is still holding on to are the green energy jobs so he not only is he doing arbitrage but he's doing it pretty successfully and he's you know he's not automatically unethically but yeah i mean he's supposedly signing an ethics pledge to say that he won't participate in any decisions but but that's well we know that's not enough don't we yeah of course it's not enough and and you know six trillion dollars there's an awful lot of money that's going to go into a lot of different places and the other thing is he apparently is has been allowed to keep his own personal um his own personal brag trust um i know within the trump administration people who have blind trust even if they met all the requirements the government ethics office says no no no that's not good enough you have to divest yourself of everything look the other thing that makes me obsessed though and this is something that steve ratner who was in the obama administration a very successful multi-millionaire investor in the obama administration he's a far-left guy he was in charge of the government bailouts of the automobile industries where he was on a news show yesterday morning and he said what bothers him about all the spending it's not just the inflation it's not just the deficit but government how are they going to execute this they've got to start to start from scratch and they're going to spend six trillion dollars there's an opportunity not just for john kerry making some money on the side but a huge um they won't be able to execute it and there'll be an awful lot of money that's wasted and and in fraud and in every other way and you know they're charging the american people every man woman and child in america is going to have to pay 1500 per year for their government for their green energy proposals that's an awful lot of money katie it's a good point because you in these circumstances you can't really get the money out the door fast enough can you there's uh there just aren't the investment opportunities to spend that kind of money efficiently so anyway i do i wonder if um if john kerry uh you know he does a lot of flying around in private jets i don't know if he's got any investments any investments in any private private jet companies but i'm but but perhaps we should see whether he's going to keep those as well katie mcfarland thanks very much for joining us thanks jerry very much

Channel: Fox Business

Views: 108,092

Keywords: John Kerry, KT McFarland, McFalrand, breaking, breaking news, colin powell, ethics, ethics john kerry, fox business, fox business breaking, fox business evening edit, fox news breaking, investment, john kerry ethics, john kerry investment, john kerry oil, john kerry private jet, petrolium, business news, elizabeth macdonald, evening edit, fbn, fox biz, fox business channel, fox business network, fox business news, fox business the evening edit, the evening edit tonight

Id: XqIG0Y7U1Vo

Length: 5min 32sec (332 seconds)

Published: Sat May 01 2021