Monday, August 20, 2007

Global warming watchdog invests in oil, coal, utilities

The new chair of the California Air Resources Board owns stocks in several oil, coal and utility firms, some of which are likely to be affected by rules the agency implements as part of the state's groundbreaking law to fight global warming, The Chronicle has learned.

Mary Nichols' stock holdings include shares in oil giants Chevron Corp., BP and Royal Dutch Shell, as well as a stake in a Bermuda tanker company that transports crude oil, according to economic interest statements she filed this week.

She also owns stock in the world's largest coal company, Peabody Energy Corp., along with utilities including Edison International, whose subsidiary, Southern California Edison, serves most of the Southern California electricity market....

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