League of Conservation Voters chairman invests in oil company

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Michael Bastasch DCNF Managing Editor
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The chairman of the board for one of the country’s most influential environmental groups manages a hedge fund that heavily invests in the oil company BP, according to The Huffington Post.

Scott Nathan, chairman of the board for the League of Conservation Voters, is the chief risk officer at The Baupost Group. Nathan is also a member of Baupost’s management committee that oversees investments made by the hedge fund.

The Huffington Post reports: “The Baupost Group is the fifth-largest investor in BP, owning more than $700,000,000 of the company.”

The League of Conservation Voters fights tax breaks and benefits to oil companies and actively campaigns against opening more areas to offshore drilling.

The group was highly critical of BP during the 2010 Gulf Oil spill, and was even reported to be the first environmental group to use the spill to attack pro-oil lawmakers in Congress.

The League used the spill to turn out voters to unseat former Arkansas Democratic Sen. Blanche Lincoln in her 2010 primary run-off election with Arkansas Lt. Gov. Bill Halter. The group aired an ad that claimed she received the most money from oil companies during the 2010 election cycle.

“LCV is a consistent critic of Big Oil and their destructive impact on our environment. Scott is a passionate advocate for what we do and a critical leader of our organization,” Gene Karpinski, the president of LCV, told HuffPost.

LCV has also been politically active supporting pro-environmental candidates this election, spending $400,000 on a direct mail campaign on behalf of Massachusetts Democratic Rep. Ed Markey’s Senate bid.

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