THE POLITICAL LANDSCAPE:

Newport Beach resident and congressional hopeful Steve Young is headed to the Democratic National Convention in Denver this summer as a delegate for Barack Obama.

“I’m excited to be in the midst of all this and to watch the drama play out and to be part of it,” Young said.

Young, who also is running for the 48th District congressional seat against incumbent Republican John Campbell, was elected along with one other delegate to represent the district in a landslide caucus in Tustin earlier this week. Competition for Obama delegate seats was fierce with 31 candidates in the 48th District alone. More than 250 people attended the caucus, a dramatic change from four years ago, when Young went to a caucus and only about nine or 10 people showed up, he said.

“I found it very encouraging that there was such a good turnout in the 48th district that is supposed to be so Republican,” Young said. “I think that there is a lot of energy on the part of Democrats — they see 2008 as an opportunity for change if they work.”

Young received 143 votes while the second-place finisher got only 49 votes, he said.

This will be Young’s debut on the national convention scene. Young, a trial lawyer with offices in Irvine, said he will use the convention to do more than listen to speeches. He hopes to bolster support for his congressional run and help develop Democratic leadership in the 48th District.

“The reason you go is to network and make connections,” Young said. “I plan to make the most connections I can that will help me in my run for Congress.”

Young has already run unsuccessfully twice for the 48th District seat, once against victor Campbell and immigration activist Jim Gilchrist in a special election in 2005 and again against incumbent Campbell in 2006.

GOING GREEN AND GETTING RICH

Democratic Congressional candidate Debbie Cook says she sees no contradiction between her investments in oil giants like Exxon-Mobil and Chevron and her political positioning as a strong environmentalist — a persona that has become a cornerstone of her campaign.

Cook and her husband have invested in Exxon-Mobil, Royal Dutch Shell, BP, Chevron, Conargo and Schlumberger Ltd. Netherlands, in amounts ranging from $10,000 to $100,000 — amounting to about 10% of her total portfolio, according to her economic interest forms.

Cook dismissed critics who said the investments threw her environmentalist credentials into question.

“This is our retirement plan; this isn’t money we can just throw around,” she said.

Cook said the investments come down to simple economics, arguing that oil will soon peak, meaning the investment was a no-brainer that ensured a solid return.

“We do invest in those that we think may be able to turn a profit,” Cook said, while conceding she had more money in oil than alternative energy. “But, the alternative energies are not going to fill the energy needs we have.

Cook said major oil companies, with the exception of Exxon Mobil, are spending a lot of capital on developing alternative energy.

“I don’t see why [the investments are] such a big deal,” she said.

Cook’s Democratic primary opponent Dan Kalmick said he was surprised by the news, and thought that one’s investments should reflect their values.

“I own shares of Corning Glass because I feel Corning’s doing good work in environmental design,” he said. “I could easily go and start making money in oil stocks, but I just don’t support the business practices of those companies.”

Cook is challenging Congressman Dana Rohrabacher for the 46th District’s congressional seat. Rohrabacher declined comment.

BRIANNA BAILEY may be reached at (714) 966-4625 or at brianna.bailey@latimes.com. CHRIS CAESAR may be reached at (714) 966-4626 or at chris.caesar@latimes.com.