Surprise, Surprise - Climate Liar Lamar Smith Made As Much As $11 Million From Oil Properties
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Smith, 71, disclosed his affiliation with the property — named the Lamar Seeligson Ranch — and his income from it in annual reports he filed with Congress over the past 30 years. But those disclosures are fragmentary. They don't name a single company involved with Smith or this property. Now, Smith's retirement from Congress in January underscores a parallel tenure occurring in Texas. For as long as he represented the 21st District, oil was being drilled on land controlled by the congressman.
From 1986 until 2016, Smith made at least $2.4 million and as much as $11.1 million through business dealings affiliated with the ranch. Members of Congress report their income in ranges and bundle the types of income they receive. That practice makes it difficult to track sources of payment, business arrangements and specific dollar amounts in receipts. "It's important for the American public, for constituents, to know what their members are invested in, where their financial ties are, to make sure that they're acting in good faith," said Alex Baumgart, a researcher with the nonpartisan Center for Responsive Politics. "To make sure that the policies being implemented are not self-serving and that they are geared toward constituents instead of furthering a financial interest."
Smith, who has influenced policies on climate, has aligned himself with oil and gas companies while downplaying the impact that greenhouse gases have on global temperatures. "To know that there's an actual financial connection between him and those companies that his policy is supporting is something that should be really concerning," said Baumgart.
Records show Smith received money through his ranch for royalty payments, livestock and crops, and rental fees. Oil and gas royalties were the most lucrative. Smith declined to comment for this story through his office. Between 1986 and 2016, he received at least $1.2 million in royalties, $1 million through income he reported bundled with royalties, $147,000 connected to livestock and crops, and $135,000 in rent. Smith might have earned much more. According to his disclosure forms, his total earnings could be as high as $3.9 million in royalties, $5.9 million in payments bundled with royalties, $870,000 in livestock and crops, and $450,000 in rent.
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