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Petroleum

Wisconsin Politicians Clash Over Campaign Finance and Mining Company Sale

Strategic Insights

— 2 min read

Wisconsin politicians are engaged in a heated exchange over campaign finance reform and a proposed mine sale. U.S. Rep. Mark Neumann challenged U.S. Sen. Russ Feingold to limit campaign spending to $1 per eligible voter in Wisconsin, claiming that Feingold's support for campaign finance reform should extend to his own campaign. Feingold responded by stating that he is already following the rules of his own campaign finance bill, which includes restrictions on special interest funding.

Meanwhile, Rep. Spencer Black expressed concerns over the sale of Exxon's interest in the proposed Crandon mine to its Canadian partner, Rio Algom, LTD., for $17.5 million. Black questioned the sale price, citing the mine's estimated value of $4 billion, and requested more information from the mining company.

Key Takeaways:

  • U.S. Rep. Mark Neumann challenged U.S. Sen. Russ Feingold to limit campaign spending to $1 per eligible voter in Wisconsin.
  • Feingold responded by stating that he is already following the rules of his own campaign finance bill, which includes restrictions on special interest funding.
  • Rep. Spencer Black questioned the sale price of Exxon's interest in the proposed Crandon mine, citing the mine's estimated value of $4 billion.
  • The sale price of Exxon's interest in the mine was $17.5 million, with an additional $5 million payment expected when the mine opens and a 2.5 percent royalty on minerals sold.
  • Exxon has no operational interest or control over the mine.
  • Feingold's campaign finance bill would require 60 percent of his campaign funding to come from Wisconsin and no more than 20 percent from special interests.
  • Black requested more detailed information from the mining company about the sale, to which the company's spokesman responded that there is "no conspiracy at work."

Statistics:

  • $1 per eligible voter: the amount of campaign spending requested by Neumann.
  • 60 percent: the percentage of campaign funding Feingold's bill would require to come from Wisconsin.
  • 20 percent: the percentage of campaign funding Feingold's bill would allow to come from special interests.
  • $4 billion: the estimated value of the Crandon mine.
  • $17.5 million: the sale price of Exxon's interest in the proposed Crandon mine.
  • $5 million: the additional payment expected from Exxon when the mine opens.
  • 2.5 percent: the royalty on minerals sold expected to be paid to Exxon.

Sources:

  • Neumann, M. (n.d.). Rep. Neumann Challenges Senator Feingold to Follow Own Bill on Campaign Finance. [Source not provided, article title only]
  • Feingold, R. (n.d.). Feingold Campaign Finance Bill. [Source not provided, article title only]
  • Black, S. (n.d.). Black Seeks More on Crandon Mine Sale. [Source not provided, article title only]
  • ExxonMobil (n.d.). Crandon Mine. [Source not provided, article title only]

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