Perry to divest Energy Transfer stock

Former Texas governor discloses finances ahead of Senate hearing next week

Former Texas Governor Rick Perry has agreed to divest his holdings in the company behind the contentious Dakota Access pipeline as he prepares for a seat in Donald Trump’s cabinet.

In a letter to the US Office of Government Ethics Tuesday, Perry said he would divest his investments in Dallas-based Energy Transfer within 90 days of being confirmed as Energy Secretary.  Another document shows that Perry currently owns Energy Transfer stock valued between $1001 and $15,000.

Trump nominated Perry to head the Energy Department in December, but the onetime leader of the US’ top oil-producing state must win Senate approval.   He faces a confirmation in the upper chamber hearing next week, where he is likely to be questioned over his ties to the oil and gas industry.

Perry resigned from the Energy Transfer board at the end of December to avoid potential conflicts of interest.

He has also promised to divest holdings in other companies, including Sunoco and Enterprise Products. He currently holds stock valued between $1001 and $15,000 in each company.

Non-oil and gas companies Perry holds interests in include Tesla Motors, Microsoft and AT&T.