Environmentalists investing in Big Oil? Inside the surprising stock portfolios of California lawmakers

Environmentalists with stock in oil companies. The requirement is meant to hold officials accountable for any potential conflicts of interest and to ensure their decisions are “in the best interest of the public and not enhancing their personal finances,” according to the California Fair Political Practices Commission, the state’s political ethics watchdog. “Individual stock holdings can absolutely, regardless of what level of government you’re in, cause those conflicts of interest that raise serious problems with the public’s trust in government,” Marsco said. When asked about her stock portfolio, Pellerin said her husband, who died in 2018, was an “avid investor.” “I vote with only one interest, and that is for what is best for the constituents of the 28th Assembly District,” Pellerin said in a statement, pointing to her support for environmental legislation this year, including a bill that increased penalties against oil and gas companies that violate regulations. The California Chamber of Commerce, whose board of directors includes a Disney executive, opposed the bill as a “job killer.” A spokesperson for Portantino said that the Disney stock was part of his wife’s compensation when she worked for the company years ago, and that the lawmaker “does not engage in the trading of stocks and rigorously follows all ethics and disclosure laws.” State Sen. Anthony Portantino, a Democrat from Burbank.