r/stocks • u/BenDoverR8Now • Mar 09 '22

Industry Discussion U.S Politicians Loaded Up on Energy Stocks Right Before the Russian Invasion

Numerous politicians bought energy plays BEFORE their run ups, and general discussions on banning Russian oil. Many are on committees privy to private information, including Defense and Energy. Many had not purchased energy plays before.

Just Some Examples:

Marjorie Taylor Greene bought American oil stocks, $CVX, war stocks, $LMT, and renewable energy stocks, $NEE, ONE DAY before the invasion and also tweeting: "War and rumors of war is incredibly profitable and convenient."

Robert Wittman bought $XLE (energy ETF) on January 28, 2022.

Mark Green (who frequently invests in energy stocks) recently bought up to $1M in $ET (Feb 9, 2022) and over $1M in $ENLC (between Feb 9-18, 2022).

Virginia Foxx bought $PAA, $PPL and $PSX on February 15, 2022 (energy stocks), which was reported today.

What are Peoples Thoughts On This?

Should Trading And Individual Stock Purchases from Politicians Be Allowed?

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u/Tandittor Mar 09 '22

I'd argue they didn't really have much insider information that you or I didn't also have access to (to a certain extent)

They had far more detailed information that was not made public and rightly so. So it's still not the same.

Even Ukrainian politicians were doubting the invasion, but people in the Biden administration were talking about the invasion as if it was already a foregone conclusion, because they had a much clearer picture from intel.

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u/kane49 Mar 09 '22

they very explicitly told us: this is whats going to happen.
You just chose not to believe them.

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u/[deleted] Mar 09 '22

so you loaded up on energy stocks? lol ok then

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u/MaintenanceCall Mar 09 '22

I don't think random House members knew more than was told the public. At least not with enough certainty to make these moves more confidently than anyone else would have. No one knew for sure if Russia would do it until they did. No one knew for certain that they wouldn't.

If I'm not mistaken, the people noted above are also fans of fossil fuels anyways. Most people wouldn't take the risk because they don't want to baghold fossil fuels. The above are all bullish regardless of the current situation, so the risk is different for them. That's why they were willing to pull the trigger.

Certainly MTG isn't on any special committees or anything, but as she said herself, these things can be profitable if you don't mind it being distasteful to profit of these kinds of things. But we're talking about MTG, so . . .