Republican Hid The Fact He Holds BP (NYSE:BP) Stock

Republican candidate for the U.S. Senate in Wisconsin, Ron Johnson, released his business portfolio Friday which includes shares of BP (NYSE:BP) stock, as well as two other oil companies totaling $181,000 to $466,000. It's being said that he is putting his own financial interest before the interest of the state.

Mike Tate of the Democratic Party said, " This is a fact he failed to mention and tried to hide from voters for the last month and a half, all the while shilling for big oil interests." His financial holdings are being questioned because of his criticism of President Obama and his stance towards BP. He pressured the company to set up the victim claims fund, while saying BP should be held accountable. While he objects to the their Administration Method's.

Johnson pointed out how Democrats statewide are benefiting from the Wisconsin Retirement Fund which holds BP stock. Tate's response, " We're not talking about a mutual fund when it comes to Ron Johnson, these are direct personal investments in oil companies."

Johnson states that his profile is diverse and he does not only hold stock in oil companies. When Tate was questioned if Johnson would sell the stock if that would take care of the problem he said, " I don't think it does, because this is something he makes money from. He makes money from BP regardless of what he does going forward, it's obvious he's just going to be to try to make up for the fact that he hid from voters that he owns substantial interest in this company and he has been publicly defending this company."

Exxon Mobil (NYSE:XOM) Now Largest Gas Producer In U.S.

Exxon Mobil (NYSE:XOM) is now the largest natural gas producer in the United States. This happened on June 25th when the deal closed for the purchase of XTO Energy. Exxon plans to keep XTO's hedges for the 2010 - 2011 year in place., but will not hedge any production in the future.

They have also assumed $11 billion of debt and a share increase on outstanding shares of approximately 9 percent. Before the acquisition, Exxon had $2 billion worth of shares in the company. Their plan is to repurchase $3 billion in shares in the third quarter.

Exxon's also intends to restructure the debt once its economical. They are saying this does not change their focus on returns, but they admit it could be a few years away before returns on their investments may be seen. Due to the long term nature of the acquisition.

Short term they plan on drilling only the most attractive wells while holding on to their current uneconomical resources at the lowest possible cost. With little threat of their lease expiring and their financial strength, they can take there time and drill opportunistically unlike smaller exploration companies.