Will they get a return on investment?

In an (un)surprising move, the oil industry is lining up to oppose House measures introduced this week to respond to the BP oil spill, according to National Journal’s Congress Daily (Subscription). The article states that two of measured in particular, one that imposes "unlimited liability on oil companies and another that federally mandates standards for well designs and operational practices."

 

According to the story:

“American Petroleum Institute CEO Jack Gerard said today the industry has acute concerns about a measure imposing unlimited liability on oil companies and another that federally mandates standards for well designs and operational practices.”

 

The American Petroleum Institute, in particular, is a player in the Washington, D.C. influence game. The oil industry's trade association, the organization has spent more than $13 million lobbying Congress since 2008, according to the Center for Responsive Politics and its members have spent big on campaign contributions to make that lobby cash go even further.

 

According to a recent report by Common Cause, “In the last decade alone, big energy has pumped more than $2.9 billion into electing and lobbying federal officials and candidates, according to campaign finance and lobbying disclosure reports.”

 

The oil and gas industry, in particular, has given more than $154 million to Congressional candidates since 2000, according to the report. Will they get a return on their investment this week?