June 14, 2005, 9:47PM
Record shows Hutchison put $2 million in energy
Most of Cornyn's $240,000 nest egg is in mutual funds and bank accounts
By SAMANTHA LEVINE
Copyright 2005 Houston Chronicle Washington Bureau
RESOURCES
PETROLEUM FACTOR
According to the Center for Responsive Politics, which tracks money in elections:
• $241,570: Overall contributions from oil and gas companies to Sen. Kay Bailey Hutchison's coffers during the 2003-04 election period, when she was not on the ballot, the second-highest in the Senate.
• $139,400: Total contributions from oil and gas companies during the last election cycle to Sen. John Cornyn.
WASHINGTON - U.S. Sen. Kay Bailey Hutchison, who has received a comparatively high amount of campaign contributions from the energy sector, owns as much as $2.4 million in stock in a dozen major energy companies and a slew of Fortune 500 companies, according to her personal financial disclosure for 2004.
Republican Hutchison's stock portfolio, which includes shares in some Texas-based companies, has no bearing on her actions on Capitol Hill, spokesman Chris Paulitz said.
"No matter what holdings she has, it wouldn't make any difference," he said, adding that "you can't expect a U.S. senator not to invest in their own future."
Bob Stein, dean of the social science school at Rice University, said the investment in energy shares "is clearly a conflict of interest in some people's minds, but I doubt Texans will lose too much sleep over it" because putting money in the energy sector may be considered the Texas thing to do.
(snip/...)
http://www.chron.com/cs/CDA/ssistory.mpl/nation/3225929(Free registration is required)