Whatley’s Iran war windfall

Republican Michael Whatley’s stock portfolio is likely getting a boost from the Iran war.

Personal finance disclosures show that Whatley has up to $2.1 million invested in the defense and energy sectors, both of which have seen huge profits since the conflict began six months ago.

This may explain why Whatley has cheered on the war despite several polls showing that nearly 60% of voters oppose it.

“Stay the course,” Whatley told Fox News in July when asked how he would advise President Donald Trump on handling the conflict. “You’ve got to make sure that Iran is not going to have a nuclear weapon.”

Whatley praised the very first strikes on Iran in March, saying, “I strongly support what President Trump has set out to do,” predicting it would be a “limited mission.”

The conflict now has disrupted the Middle East oil trade and is pushing up gas prices across the globe. This has been a financial windfall for American-based gas companies that are able to reap the benefits of higher prices without having to navigate shipping and supply issues.

It’s also been a windfall for Whatley, who owns up to $1.6 million worth of gas and oil stock, including shares of ConocoPhillips, Chevron, Shell, and ExxonMobil. The value of Whatley and his spouse’s Shell holdings have increased by nearly 12% since May.

The same dynamic is at play with the nearly half million that Whatley has invested in defense and aerospace companies. His GE Aerospace holdings increased by nearly 31% between May and August.

Whatley has also purchased additional shares of Park Aerospace since the war began. Park Aerospace builds missile defense systems for the U.S. government. A Seeking Alpha analysis said the war was likely to accelerate the company’s growth, and it did: Park Aerospace’s stock value increased by more than 60% between February and August.

Whatley worked as a lobbyist for defense contractors between 2006 and 2015. One of his clients was weapons builder Lockheed Martin.

Whatley is now running for U.S. Senate in North Carolina. His Democratic opponent is former Gov. Roy Cooper who says he will vote to end the Iran war.