Kirsters Baish| It seems that Democratic Massachusetts Senator Elizabeth Warren took in royalties in 2017 from one of the biggest names in natural gas in the entire country. This information came directly from tax return documents that were released this past Wednesday by Warren’s campaign.
According to her tax return, the Massachusetts Senator took in $121 in 2017 in royalty payments from Chesapeake Operating LLC (“a subsidiary company of Chesapeake Energy.)
Western Journal reports that Chesapeake is the second biggest producer of natural gas in the entire country, coming in behind Exxon Mobil.
Western Journal also writes:
The natural gas royalties Warren collected in 2017 are negligible in comparison with her estimated net worth of between $3.7 million and $10 million.
However, the existence of the Democrat’s financial ties with Chesapeake is curious considering her aggressive stance against the energy industry.
Warren publicly condemned large oil companies, such as Shell, BP, and Exxon. During a 2015 climate and labor speech, the Democratic Senator bashed the companies for making billions of dollars in profits. She also claimed that government regulations within the energy industry were imperative in order to stop companies from “dumping filth in the river or spewing poisons in the air.”
Interestingly enough, Warren didn’t once mention Chesapeake in her speech. We should also note that Chesapeake was slapped with more than $17 million in fines since the year 2000 in relation to both leasing and environmental violations. The largest fine was $3.2 million, which was levied in 2013 when a subsidiary company poured waste materials into bodies of water in West Virginia.
The Chesapeake corporation runs almost 23,000 oil and natural gas wells all over the United States. Before opening a new drilling location, Chesapeake signs lease agreements with the landowners. They also pay royalties to their leaseholders, people like Warren. Usually, these leaseholders take in a percentage of what was made on the gas sales.
The Massachusetts Senator’s ties to the natural gas corporation date all the way back to before 2013 when she took a spot on the Senate, as proved by her tax returns.
Western Journal writes, “She reported earning $204 in royalties from Chesapeake in 2012 and a combined $899 in royalties from ‘gas wells’ from 2008 to 2011.”
This coming November, Warren is up for re-election in the Senate’s midterm elections. CNBC reported, however, that her campaign’s move to publish 10 years worth of tax forms this past week may indicate that she is considering a 2020 run in the presidential race.
Warren has not yet responded to requests to comment on the matter