However, this means that Jon Wellinghoff will continue as Chairman until a replacement is confirmed next year. But Wellinghoff just couldn't wait to sign his post-FERC revolving door deal. He announced earlier this month that he would be taking a position with law firm Stoel Rives LLP, whose clients have business before the Commission.
Wellinghoff says he has been recusing himself from the firm's cases for months, and will continue to do so until he leaves FERC. Wellinghoff says this doesn't present a conflict of interest.
Senator Barrasso says it does too.
And so another revolving door conflict starts. Why doesn't Congress institute a cooling off period between being the regulator and being the regulated? Or perhaps just prohibit it in its entirety? Maybe then we'd get regulators who want to regulate, not use their position as a stepping stone to a cozy retirement twisting the arms of those who take their place.
Regulatory capture is real. In a most appalling recent case, Wisconsin's Citizens Utility Board ratepayer advocate said goodbye to public service and took a job with transmission company ATC.
Is anyone looking out for you anymore, or are they all just studying the revolving door in order to time their exit for maximum profit?