obama’s energy pick discloses industry ties - energy storage companies

WASHINGTON —
President Obama chose to manage Doe as a high-paying advisor to a private equity firm that, while managing the top energy research center at MIT, invested heavily in the oil and gas industry, according to the financial disclosure documents.
Since the establishment of the MIT Energy Initiative in 2006, Ernest Moniz has been guiding the initiative, and since 2008 he has earned at least $75,000 to provide Riverstone Equity LP
5 billion. invest in various fossil fuel production and storage companies in the United States and abroad.
Moniz, a world-famous physicist praised by energy companies and environmental activists, chose to map the future of American energy. In recent days, his personal financial relationship with some of the oil and gas companies that funded MIT research has been reviewed --
If confirmed as a new energy position, he will have considerable regulatory power.
Allegations of potential conflicts of interest and doubts about the academic integrity of MIT focused on an influential and optimistic gas study supervised by Moniz in 2011, the study also includes several natural gas companies.
While the relationships were reported within MIT at the time, they were not made public, including Moniz's role as a new member of the board of directors of the international scientific research center, representing the Virginia consulting firm of the gas company, or his position as a long-term consultant at Riverstone.
Moniz declined the request for an interview but was unable to reach the representative of Riverstone immediately.
New disclosure
First public accountant representing Moniz energy sector revenue
It shows that he holds shares worth between $100,000 and $250,000.
In addition, he reported that the company paid $90,000 for the services he provided.
The documents also indicate that, on the recommendation of government ethics lawyers, Moniz agreed to divest his ICF shares when he became minister of energy to avoid any conflict of interest.
According to the document, he also agreed to withdraw another year from any government decision that might affect the company.
The disclosure form submitted to the United States government ethics office is necessary to prepare for the Senate confirmation hearing scheduled for April 9.
These data suggest that Moniz has maintained a range of other financial links with oil and gas companies in recent years.
He is a member of the advisory committee and advisory committee of the King Abdullah Petroleum research and research center in Saudi Arabia, and according to his report, the center is paid more than $5,000.
BP paid him a $5,850 consultation fee, and he received a $15,000 combined lecture fee from Schlumberger.
The Cambridge doll research center is a subsidiary of the global oil field services and supply company Schlumberger Co. , Ltd. and a consulting firm IHS for oil and gas companies.
He said he would resign from his unpaid board position at NGP Energy Technology Partners, another venture capital company.
The records show that Moniz also paid service fees to companies and organizations involved in clean energy solutions.
For example, he served on the board of directors of Nextant Inc.
A clean energy software company in San Francisco, who owns undisclosed private shares, has now agreed to sell them in order to comply with government ethics.
He also reported that he received $5,000 from Los Angeles venture capital firm Angeleno Group and General Electric, which is investing in the next generation of clean energy, and he made suggestions on "green products.
Fondazione Enrico Mattei, an Italian non-profit organization, also paid moniz more than $13,000 in consulting fees, which the organization says is "committed to research on sustainable development and global governance ".
"In a moral agreement signed on March 8 with the United States government ethics office, Moniz agreed to resign from all energy departments to sell his shares.
Since GE is a major Department of Energy contractors, Moniz also agrees not to participate in the "assessment of any funding application or decision to grant, extend or amend any contract, Grant, or other financial agreements between the department and GE, or anything I am involved in as a member of the GE Economic Development Advisory Committee.