A former top Interior official violated ethics rules by holding oil company stocks

Tommy Beaudreau, former Deputy Secretary of the Interior, improperly held stock in ExxonMobil and Chevron while participating in a meeting affecting those companies, according to a report by the agency’s internal watchdog.

Maxine Joselow reports for The Washington Post.

In short:

Tommy Beaudreau violated federal ethics rules by failing to monitor his investments in ExxonMobil and Chevron.
His financial adviser purchased the stocks without his knowledge, but Beaudreau failed to recuse himself from a related meeting.
Despite owning stocks, he participated in discussions about new safety regulations for oil wells in the Gulf of Mexico.

Key quote:

“Beaudreau participated in a meeting about a regulation that affected Exxon and Chevron, even though he had a financial interest in the companies.”

— Interior’s Office of Inspector General

Why this matters:

Conflicts of interest, even unintentional ones, can taint public trust. The timing is especially troubling as the U.S. grapples with energy transition and the environmental risks of offshore drilling. If those responsible for regulating oil safety are financially entangled with the companies they oversee, can the public really believe these policies are built on science rather than profit? Read more: Public disservants.

www.washingtonpost.com

A former top Interior official violated ethics rules by holding oil company stocks

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