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Conway discloses big profit from Texas investment

Conway discloses big profit from Texas investment

by Joe Arnold

WHAS11.com

Posted on August 25, 2010 at 1:23 AM

Somewhere between Hazard and Frankfort, Daniel Mongiardo is muttering, "I told you so."

As  Halimah Abdullah reports, Democratic U.S. Senate candidate Jack Conway has disclosed that over the last 18 months, he has,

 .... accepted $263,500 in stock distribution payments from Kinder Morgan Energy, a Texas-based pipeline company that transports natural gas and petroleum products.

<edit>

“It is pretty sad to see Jack Conway lining his pockets with cash from a company made up of former Enron executives that lobby for Cap and Trade and against Kentucky Coal,” said Gary Howard, press secretary for Republican U.S. Senate nominee Rand Paul.

In November, 2009, during the Democratic Senate primary, rival Daniel Mongiardo alleged  that the Kinder-Morgan investment represented Conway betting against Kentucky coal interests and standing to profit by Cap and Trade legislation.

"... most importantly, Jack Conway needs to explain why he has more than 90% of his wealth invested in a Texas energy company that advocates using natural gas to replace Kentucky coal---that will destroy tens of thousands of Kentucky jobs and cause electric rates to soar,"  said (Mongiardo campaign spokesman Kim) Geveden.

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