A Washington Post story yesterday revealed that oil and gas companies have enjoyed a massive taxpayer-funded giveaway of $11 billion since 1996 thanks to royalty free wells in the Gulf of Mexico, with Chevron’s $1.5 billion in extra profits topping the list.
Despite an increased focus on climate change from President Obama, public pressure such as the largest climate rally in U.S. history last weekend, and a new piece of legislation to regulate carbon emissions introduced by Sens. Barbara Boxer (D-Calif.) and Bernie Sanders (I-Vt.), American Petroleum Institute CEO Jack Gerard is confident that the bill will never even reach the floor of the Senate.
ExxonMobil will donate $250,000 to the Presidential Inaugural Committee, according to a report in The Hill, a surprising donation from an industry that fought tooth and nail to defeat President Obama and elect Mitt Romney.
Lots of press yesterday on SEC rulemaking around political disclosure. The SEC has received 322,000 public comments on the issue. LA Times: "A decision by the U.S.
Jack Gillum at AP pulls together the top donors to the Obama and Romney campaigns (and super PACs). Obama: Fred Eychaner, James Simons, Jeffrey Katzenberg, Irwin Jacobs, Jon Stryker. Romney: Shel Adelson, Harold Simmons, Bob Perry, Robert Rowling, Bill Koch.
Billionaire oil tycoon Harold Hamm will appear before the Senate Finance Committee today to “warn against nixing oil industry tax breaks”.
While Hamm may these days be known as an energy adviser and fundraiser for Mitt Romney and big donor to Romney’s super PAC, he is also a big giver at the Congressional level, according to our analysis of data from the Center for Responsive Politics.
Through the beginning of 2012, as Washington debated high gas prices, the Keystone pipeline, and ending wasteful subsidies to highly profitable oil companies, Big Oil handed out big bucks to their preferred politicians.
With first quarter earnings reports set to be released this week, it’s important to look at the politicians oil companies are funding and what they might be getting in return.
Morning must-read: "House Majority Leader Eric Cantor, R-Va., may have irritated members of his conference by donating to an anti-incumbent super PAC before the Illinois primary, but Rep.