oil

Big Oil Spill and Big Oil Cash

This week, BP executives are facing Senate and House committees investigating the tragic oil spill along the Gulf. Congress is also working on ways to respond to the crisis. All of this, though, is on the backdrop of tens of millions of dollars the oil and gas industry has given to Congress over the last 20 years.

 

We've put some graphics together highlighting the campaign cash from oil and gas interests that members of the two Senate committees holding hearings today have received.

 

Reading Between the Lines

It is a bit amusing to watch Congress scrambling to figure out how to deal with rising gas prices. Even President Bush is calling to get rid of $2 billion in tax breaks that Congress passed as part of the energy bill. Despite the braggadocio, however, nobody wants to go too far, reports The New York Times:

 

Like A Free Ride When You've Already Paid

Texas Joe Barton (R-TX) is down right mad at Citgo. He's mad because while oil prices are at an all time high, Citgo had the gaul to start a program that offered heating oil to the poor in the Northeast at rates up to 60% below market price. That's right, Citgo, and only Citgo, started an oil-for-the-poor program so those less fortunate than others could heat their home this winter.

A not-so-veiled threat?

Roll Call is reporting on some flak that Exxon-Mobil is catching from Congressional Republicans concerning a $500 campaign contribution to DeLay opponent Nick Lampson.

$500. This is a company that just reported a $10 billion profit.

DeLay and Exxon

ExxonMobil just posted record profits for the third quarter, some $9.92 billion, the largest quarterly profit of any corporation in U.S. history, according to the Associated Press.