A Democratic congresswoman who is part of a congressional caucus aiming to fight the effects of climate change is earning major profits on her oil and gas stock purchases in recent years, according to records reviewed by the Washington Examiner.
Rep. Lois Frankel is a member of the Safe Climate Caucus, which has targeted the fracking industry and aims"to solve the important issues facing our country because of climate change."However, the Florida Democrat's purported commitment to staving off climate change has not stopped her from shelling out up to $195,000 between March 2020 and December 2022 to obtain shares of six oil and gas companies that have ballooned in value, filings show.
Diamondback Energy's stock is up by over 15% in the last year, sitting at more than $151 per share as of this writing. Frankel's purchases combined were struck at roughly $105 per share, according to filings. The congresswoman told the Washington Examiner that her trades are"managed independently by a money manager who buys and sells stocks at his discretion."
In October 2022, Frankel bought up to $30,000 worth in stock of Halliburton, a major fracking company that has come under fire for its ties to George W. Bush's presidential administration. Halliburton is currently trading at over $40 per share, and Frankel's shares were struck at over $33 per share combined, according to filings.
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