WASHINGTON — Reps. Scott Tipton and Ed Perlmutter have reported financial interests that potentially conflict with committee assignments in the U.S. House, a situation that an ethics watchdog calls “unethical but not illegal.”

Tipton, R-Cortez, and his immediate family have a portfolio of oil and natural-gas stocks and assets worth between $267,014 and $755,055 — including between $52,000 and $130,000 in Exxon Mobil — according to Congress members’ personal financial disclosures for 2010 released this week.

Watchdog groups say that kind of personal investment in the energy industry could spark conflicts of interest for Tipton, who serves on the House Natural Resources Committee.

Resources committee members have taken up issues that include drilling for oil in Alaska, advancing offshore oil leases, exploring geothermal energy on federal lands and advancing wind production.

Perlmutter has filed an extension request for his 2010 disclosure, but according to his 2009 report, the Jefferson County Democrat, who serves on the Financial Services Committee in the House, owns between $150,002 and $350,000 in U.S. Bank stock.

Among other priorities, the committee passes laws that affect banks.

Craig Holman, government-affairs lobbyist for Public Citizen, called owning stock and voting on issues that can personally benefit that stock value “unethical but not illegal.”

“Members of Congress are not subject to insider trading,” Holman said. “But they may actively trade and benefit. It appears that many members of Congress are in fact doing so.”

Holman cited a recent study that found members of the House have a 6-percentage-point better return on their investments than the public at large. For U.S. senators, that number is 12 percentage points.

“Either members of Congress are geniuses when it comes to stock trading or many of them are privy to inside information that we are not,” he said.

Tipton’s office said he represents his 3rd Congressional District constituents better because so much of his district is affected by natural-resources issues.

“Everything from energy production to pristine open spaces, the 3rd District is blessed with abundant natural resources,” said Tipton spokesman Josh Green.

Perlmutter’s office said his stock ownership is well known.

“We have addressed this question many times in the past,” said Leslie Oliver, spokesman for the 7th Congressional District representative. “Ed is a member of a family partnership that has owned U.S Bank stock for more than 20 years.”

Bill Allison, a director at the Sunlight Foundation, a D.C.-based group that pushes for government transparency, said Congress has to balance finding people for committee assignments with relevant “experience and understanding.”

“Do you want Congress to be a bunch of priests? Do you want them not to have investments, like regular Americans do?” Allison said. “When you think about the case-by-case basis, the farmer who comes to Congress, are you saying he shouldn’t be involved in the Agriculture Committee?”

Allison pointed out that the personal financial disclosures are always at least six months behind — the ones made public this week reflect calendar year 2010 — and it is difficult to know whether votes are affected day by day.

The 2010 financial disclosures for Reps. Diana DeGette, a Denver Democrat; and Republicans Mike Coffman of Aurora, Cory Gardner of Yuma and Doug Lamborn of Colorado Springs did not show any potential conflicts between investments and committee assignments.

Like Perlmutter, Rep. Jared Polis, a Democrat from Boulder, and Democratic Sen. Mark Udall filed for extensions.

Democratic Sen. Michael Bennet has assets worth between $4.85 million and $19.4 million. The bulk of his wealth is in mutual funds, municipal securities and interests from his days with Regal Entertainment and the Anschutz Corp.

Allison Sherry: 202-662-8907 or asherry@denverpost.com

Financial disclosures

The minimum and maximum net worth of members of the Colorado congressional delegation.

Rep. Jared Polis, D-Boulder: $36.7 million and $285.1 million*

Sen. Michael Bennet, D-Denver: $4.85 million and $19.4 million

Rep. Scott Tipton, R-Cortez: $2.9 million and $10.1 million

Rep. Mike Coffman, R-Aurora: $1 million and $2 million

Rep. Diana DeGette, D-Denver: $724,000 and $1.8 million

Rep. Ed Perlmutter, D-Jefferson County: $537,035 and $1.51 million*

Sen. Mark Udall, D-Eldorado Springs: $463,043 and $1.63 million*

Rep. Cory Gardner, R-Yuma: $39,012 and $237,001

Rep. Doug Lamborn, R-Colorado Springs: $49,007 and $210,000

*Figures are for 2009; they requested extensions for filing 2010 disclosures

This article has been corrected in this online archive. Originally, due to a reporting error, Rep. Doug Lamborn’s personal wealth

was incorrect. Lamborn,

a Colorado Springs Republican, is worth between $49,007 and

$210,000, according to House personal financial disclosures.

