Gov. Scott had stake in pipeline firm

We already know he’s crooked- we’ve seen it– so this is no surprise BUT I’m happy to hear how deep his conflict of interests run because no one will ever vote him into public office again. At least they shouldn’t.

When our dear governor took office in 2010, he brought a Florida Power & Light executive with him who immediately pitched a plan to build a major natural gas pipeline in North Florida. Obviously, the project would need state regulatory and governmental agencies support and understanding and Scott was ready to offer both.

From the article:

“In May and June 2013, he signed into law two bills designed to speed up permitting for what came to be known as the Sabal Trail Transmission — a controversial, 474-mile natural gas pipeline that’s to run from Alabama and Georgia to a hub in Central Florida, south of Orlando.”

And just five short months later (which is incredible because of the pace at which government NORMALLY runs) the Florida Public Service Commission – made up of five members who were appointed by Scott- “unanimously approved construction of Sabal Trail as the state’s third major natural gas pipeline.” (The same pipeline that’s garnered serious opposition from both environmentalists, residents, and even the EPA who aren’t sure there is a need for the Sabal Trail and instead suggested energy alternatives.) The rest of the approvals needed are from the Federal Energy Regulatory Commission and the Florida Department of Environmental Protection. Guess who oversees those? Uh huh. The governor.

Is the picture becoming clearer?

(There might be a bit of language in this video- be aware.)

However, what we didn’t know in 2013 was that the governor owned a stake in Spectra Energy, the company chosen by Florida Power & Light (his friends) to build and operate the $3 billion pipeline. That’s right, Sabal Trail Transmission LLC is a joint venture of Spectra Energy and FPL’s parent, NextEra Energy. Are you mad yet? Are you ready to forward this story to EVERYONE you know, yet?

More from the article:

“Florida’s ethics laws generally prohibit public officials like the governor from owning stock in businesses subject to their regulation, or that do business with state agencies. A similar prohibition exists on owning shares in companies that would “create a continuing or frequently recurring conflict” between an official’s private interests and the “full and faithful discharge” of his public duties.”

So how did he do it then? Loopholes in a blind trust law that allows public officials to veil their investment activity all the while having immunity from prohibited conflicts of interest.

“Blind trusts” are supposed to eliminate conflicts of interest by “blinding” public officials and the public to the nature of their holdings. In order to protect “we the people” the governor’s investment portfolio is handed over to a “disinterested manager” who takes care of his holdings. Scott acquired his Spectra shares via his blind trust. And his “disinterested manager” was Alan Bazaar, a trusted former employee of the governor’s private investment firm Richard L. Scott Investments.

So, he is technically not breaking the law, while he ruins our state and makes millions because he knows EXACTLY what’s in that blind trust because his friend- trusted friend- is managing it.

But wait. There’s more.

Apparently, the Legislature makes it easy for officials to get away with conflicts of interest through loopholes in the ethics code. And who is on Florida’s Commission on Ethics? Whomever the governor, the Senate president, and the House speaker appoint. That means they effectively get to decide what’s ethical, too.

Here are a couple other fun tidbits of info:

  • Scott has high hopes set on natural gas and firms like Spectra and Energy Transfer Equity LP. Energy Transfer is a publicly traded master limited partnership whose subsidiaries include a joint venture that owns Florida Gas Transmission- the state’s largest natural gas pipeline.
  • Florida Gas Transmission is also a major state vendor and in 2013-2014 they were paid $28.4 million by the Department of Transportation for various construction services.
  • Scott’s stake in Energy Transfer is worth $311,000. Scott also has additional investments in a pair of entities owned by Energy Transfer, Regency Energy Partners LP and PVR Partners LP, totaling $400,000.
  • Scott’s investments in Spectra and Williams, an energy infrastructure company, also gave him a financial interest in Florida’s other major natural gas pipeline, Gulfstream. Those companies and their limited partnerships jointly own and operate Palmetto-based Gulfstream Natural Gas System LLC.
  • Scott’s disclosure form reported that in addition to his Spectra holdings he owned Williams shares worth $104,000, and a $71,000 ownership interest in a master limited partnership owned by Williams, called Access Midstream Partners.

I feel dirty after writing this article. Scott is disgusting. Please, please, please…let’s not re-elect this guy. He’s just bad for us.

Source: Miami Herald