Prof. Richard Painter Interviewed by Moneywise About Trump’s Conflict of Interest Holding Energy Stocks

Professor Richard Painter, S. Walter Richey Professor of Corporate Law, was interviewed by Moneywise discussing Donald Trump’s conflicts of interest in holding oil and gas stocks amid war with Iran and newly announced oil deal with Venezuela. Despite the administration saying that neither Trump nor any member of his family has any ability to direct, influence, or provide input regarding how or when investments are bought or sold. Prof. Painter said, “I am concerned the president has substantial conflicts of interest with his official duties. We haven’t had this for a very long time.” He added that looking at history, even during the energy crisis of the 1970s, no president held oil and gas stocks. He pointed to President Richard Nixon held no such stocks when the Organization of Arab Petroleum Exporting Countries (OAPEC) countries cut off oil to the U.S. for its support of Israel in the Yom Kippur War. He said, “Nixon was a corrupt president, but at least he was not trading in oil company stocks during the energy crisis.”