As global tensions drive up oil prices and raise costs for U.S. consumers, Republican U.S. Senate candidate Michael Whatley stands to profit from the same forces squeezing North Carolina families.
Financial disclosures show that Whatley has earned over $219,660 from investments tied to oil and gas companies, including ConocoPhillips, Chevron, ExxonMobil, Devon Energy, and Shell. His total holdings in the sector are valued at up to $1.39 million.
Rising oil prices tied to the war in Iran have played a major role in inflation increases across the board. Higher energy costs ripple across the economy, raising the price of goods and services and putting additional pressure on household budgets.
That dynamic is also fueling renewed scrutiny around stock ownership and conflicts of interest. Members of Congress are currently allowed to own and trade individual stocks, even in industries directly impacted by the policies they shape. Critics argue that financial stakes in sectors like oil and gas can create incentives that are at odds with lowering costs for consumers.
Some candidates have pledged to avoid those conflicts by selling individual stocks or placing assets in blind trusts. Whatley has said he supports a ban on congressional stock trading, but his current holdings in oil and gas companies remain in place as energy prices rise.
By contrast, former Governor Roy Cooper has said he does not own individual stocks and has pledged not to trade them if elected to the U.S. Senate, arguing that public service should be focused on delivering results for families rather than personal financial gain.
While families pay more at the gas pump and for basic goods, Whatley’s financial ties to the oil industry position him to benefit as those costs remain elevated.
