Millionaire Richardson has stock in oil company

Gov. Bill Richardson, who proposes an “Apollo plan” to make the United States energy independent, is a millionaire who has stock in a refining company and received capital gains on the sale of stock in an offshore drilling company, the Associated Press is reporting.

In a report filed this week with the Federal Election Commission, Richardson reported overall assets of between $3.5 million and $10 million. That includes stock in Valero Energy Corp. worth between $100,001 and $250,000, the news service reported. He also has stock options from the company valued between $250,001 and $500,000.

The refiner owns a number of retail gas station chains, including Diamond Shamrock.

Richardson also received capital gains of between $50,001 and $100,000 from stock in Diamond Offshore Drilling, an oil and natural gas company.

Richardson got the stock in both companies while serving on the board of directors for both in 2001 and 2002, after he left his job as energy secretary in the Clinton Administration.

Richardson plans to “divest my interest in the (Valero) stock if elected president,” a note in his disclosure report states, according to the news service.

The report includes 2006 and the time that has transpired in 2007. In addition to the stock, Richardson received salary in that time totaling $146,667 from his job as governor. He has a rental house in Santa Fe valued at between $1 million and $5 million and a condo in the city he rents out that’s valued at between $500,001 and $1 million.

Each generated rental income during the time period of between $50,001 and $100,000, the news service reported.

He also owns land in Santa Fe valued at between $250,001 and $500,000.

Richardson listed a mutual fund worth between $500,001 and $1 million. It generated dividends of $5,001 to $15,000 and capital gains of between $15,001 and $50,000. He had between $100,001 and $250,000 in the bank, which generated interest of $2,501 to $5,000.

Richardson plans to roll out his energy plan at a speech tomorrow in Washington, D.C. He told Google employees earlier this week that he wants to increase vehicle fuel efficiency to 40 mpg in four years and 50 mpg in 10 years. He has said it will take an “Apollo plan,” not tinkering with existing systems, to make America energy independent and combat climate change.