Mayor Keith Wilson on Wednesday used his power to break a tie City Council vote for the second time on his watch, this time to facilitate a massive fossil fuel deal.
Wilson joined six councilors in voting to transfer a contract the city has with Houston-based fossil fuel company Zenith Energy to a Miami-based international investment company called I Squared Capital, or ISQ Holdings. The franchise transfer is a precondition that will ultimately allow ISQ to take over Zenith’s oil-by-rail and storage operations in Northwest Portland, once their business deal goes through. ISQ manages $50 billion in assets worldwide, according to its website, but specifics of the deal with Zenith have not been made public. ISQ needs the franchise agreement—a contract that utility companies must enter into with the city to access the city’s rights of way—before it can begin operating the facility.
Wilson voted yes alongside the Council’s more moderate bloc—Councilors Olivia Clark, Steve Novick, Elana Pirtle-Guiney, Dan Ryan, Loretta Smith, and Eric Zimmerman. Candace Avalos, Jamie Dunphy, Mitch Green, Sameer Kanal, Tiffany Koyama Lane, and Angelita Morillo voted no…