It is no secret that Donald J. Trump has many business interests. As the nation watches to see how these will be handled once he officially becomes POTUS, in January, the Standing Rock protests continue. If it is not settled by the time Trump takes office, the nation is wondering what stand he will take on it as President of the US versus a business man holding stock in the venture.
Donald Trump’s stock in the pipeline
As part of his campaign, Donald Trump promised that oil and gas would be plentiful in the US. As a business man, Trump holds stock in Texas-based Energy Transfer Partners and in Phillips 66.
Both companies have a stake in the success of the Standing Rock pipeline.
According to MSN, as of May, disclosure forms stated that the President-elect held $15,000 to $50,000 worth of stock in ETP and $100,000 and $250,000 of stock in Phillips 66. Phillips 66 has one quarter share invested in the Dakota Access Pipeline.
As of now, the Obama administration has decided that more studies and tribal meetings are needed before the pipeline proceeds. The Army Corps of Engineers has been consulting with Standing Rock Sioux. The Sioux believe that the pipeline that runs very close to their water supply will contaminate the water that they depend on. The project will also disturb sacred grounds.
Many people, including Kelcy Warren, CEO of Energy Transfer Partners, feel that once Trump takes office in January, it will be easier for the pipeline to progress.
Warren is a Trump supporter and donated a lot of money to his campaign and to the Republican National Committee. Questions arise as to what kind of conflict this may impose on Trump as President.
Trump to turn stock over to family?
According to Trump’s spokesperson, Hope Hicks, plans are in the works to turn his business dealings over to his children, Donald Jr., Ivanka and Eric Trump.
“This is a top priority at the organization and the structure that is ultimately selected will comply with all applicable rules and regulations." Hicks was quoted as saying to the Associated Press.
In the meantime, Donald Trump continues to select his cabinet. Questions are being raised as to whether he is selecting a proper cabinet as the President of the US, or as a smart business man. Can Trump disentangle himself from the business world and make decisions for the US based only on the good of the country? Time will tell.
