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Members of the new state board overseeing drilling and fracking in North Carolina is not required required to disclose whether they could potentially profit from the practice they oversee. The board chairman Ray Covington and his family own more than 1,000 acres of timberland in Lee County, considered to be a natural gas-rich pay zone and prime fracking territory.

Such issues are not specifically mentioned on the state’s ethics disclosure form, unforeseen by North Carolina’s ethics rules because for the simple reason that there is no history of oil and gas exploration here. Read more here.

More political headlines below.

Pat McCrory touted his private sector experience and tried to reassure a ballroom of commercial real estate developers Wednesday about the economy, saying that "hopefully you've seen the worst and things are starting to come back."

"Right now, North Carolina is going through a very tough time," McCrory said.

McCrory, the presumptive GOP nominee for governor, struck a less definitive tone than Democratic Gov. Bev Perdue, who recently declared "North Carolina is coming out of the recession; you can take it to the bank.”