Monday, October 24, 2005

A sordid tale of oil and money?

Dear friends,

You might be asking yourselves just why a Senate committee is planning to move forward this Wednesday on what bill sponsors are calling the “Gas PRICE” act.

The name is a curiosity, since there’s no evidence it will lower gas prices. (Maybe that – plus that fact that it would create new loopholes in the Clean Air Act – is why some wags have re-named it the “GASP” (Gouge Americans Stuck at the Pump) Act.

It is aimed at helping oil companies, which are poised this week to announce almost-obscene profits. Perhaps this legislation is partly timed to deflect attention from those profit announcements?

Speaking of money, surely this action by the Senate Environment and Public Works Committee has nothing to do with campaign contributions!

Still, it is interesting to see how money oil money has flowed to bill (S. 1772) sponsors in the recent past. Bill sponsors have raked in an average of about $150,000 each from oil and gas companies. Note, below, that other money is also streaming in from interested parties.

The figures below are from the Center for Responsive Politics, based on filings with the Federal Election Commission.



“GASP” Sponsor Oil & Gas Campaign Contributions*

James Inhofe (R-OK) $261,008
Kit Bond (R-MO) $125,650
George Voinovich (R-OH) $116,000
Lisa Murkowski (R-AK) $204,163
John Thune (R-SD) $263,916
Jim DeMint (R-SC) $91,700
Johnny Isakson (R-GA) $71,224

[all of the above are members of the Senate Environment & Public Works Committee]

Non-committee members who are co-sponsoring S. 1772:

Wayne Allard (R-CO) $174,100
Larry Craig (R-ID) $95,950
Elizabeth Dole (R-NC) $163,679
Rick Santorum (R-PA) $79,150


Oil & Gas industry contributions to bill sponsors: $1,646,540


Because it is so hard to track the flow of money in DC, these figures undoubtedly understate the total money inflow from interested parties to bill sponsors.

For example, the gas-station lobby (The Society of Independent Gasoline Marketers of America or SIGMA) gave $5,000 earlier this year to Senator Inhofe. But Inhofe also received a separate contribution from SIGMA’s lobbying firm – Collier Shannon Scott. The latter is not included among the total listed above. The gas-station lobby is promoting the legislation as a way to reduce the number of cleaner fuels.

It’s perhaps also interesting to note that several senators – notably Voinovich and Bond – went out of their way to praise the National Mining Association and a portion of the bill that would promote conversion of coal into liquid fuel. (The mining industry had its own press release out on this: http://www.nma.org/newsroom/latest_pop/releases05/101805_testimony.html )

No doubt it’s a sheer coincidence that Voinovich and Bond are both regular recipients of cash from the mining association’s political action committee.


Other Republican members of Senate Environment and Public Works Committee

Three Republican members of the panel, David Vitter (R-LA), John Warner (R-VA) and Lincoln Chafee (R-RI) have not co-sponsored the legislation. (Nor has any committee Democrat or Independent James Jeffords.)

David Vitter (R-LA) $264,246
John Warner (R-VA) $57,523
Lincoln Chafee (R-RI) ? (a negligible amount, if any)


Even though Warner seemed cranky at last week’s hearing, you might want to bet that he and Vitter will vote for the measure this week. Maybe even bet $371, 769 – their combined take from oil and gas companies.



* The figures are based on the current (2001-2006) Senate fund-raising cycle. The total for Dole reflects her last campaign (through 2002).

20 comments:

Google Page Rank 6 said...

Increase your Adsense Earnings

I noticed you have adsense ads on your page, Would you like to increase your earnings from them, Free and Legitimate way to make your clicks increase.
Come see my Blogger blog and it will tell you more.

Hunt and Fish said...

Man there is alot of comment spam I have noticed. Is there any way to remove it from the blogs?

Freddies Blog said...

Last month I made $12,124 with Google Adsense...Click
here for free on how you can do the same!

Willie said...

I had that happen to me . I sent an email to admin and they took care of it. Payday Loans Cash Advance

Gordon said...

Hello, just visited your blog, it's informative. I also have a website related togoogle adsense software. So make sure you visit and hope it's useful.

Antonio Hicks said...

i was just browsing through the blog world searching for the keyword posters and it brought me to your site. You have a great site however it is not exactly what i was looking for. Good luck on your site. sincerely, antonio.

Willie said...

How did they do that without anybody knowing? Payday Loans Cash Advance

Willie said...

How did it work when they got it updated? Cash Advance

Carpet Cleaning Dallas said...

Good Blog here nice read if you would like to see my web site carpet cleaning Las Colinascarpet cleaning Las Colinashttp://www.carpet-cleaning-dallas-allen-frisco-plano-texas.com/

William said...

Fantastice blog you got here, I will deffinitely be back to see the updates you have made. I have a website that you might find interesting. It pretty much covers
fast payday loan

fast payday loan

William said...

great job on the blog, I really like it and look forward to some more awesome postings. I have a website you might like


payday loan company

Paul Adams said...

Hi, Fellow! I like your blog!
I just came across your blog and wanted to
drop you a note telling you how impressed I was with
the information you have posted here.
I have a need to make more money
site. It pretty much covers need to make more money related subjects.
Come and check it out if you get time :-)
Best regards!

Mi Michigan House Cleaning said...

Suitable blog, its very good. I liked the site its
from so much I have to visit it again! I surf the web
for blogs like yours in my spare time.
Please go over my nj new jersey house cleaning blog.

Online Degree Adviser said...

Hi, I was just wandering the blogosphere and here I am at your blog. I enjoy the style of how this all works.

This is one to watch.

Cheers,

schedules house cleaning

Alicia Bennett said...

Greetings, I was reading some blogs and came across your blog. I'm quite impressed , with how it has a good feel. This is one to watch.

Regards,

tips house cleaning

James Baker said...

I just came across your blog and wanted to
drop you, Blogger, a note telling you how impressed I was with
the information you have posted here.
If you have a moment, please visit my site:
loans center
It covers loans center related contents.
I send you warm regards and wish you continued success.

http://www.debt-consolidation.com said...

Debt Consolidation Debt Consolidation Programs can help you reduce your interest burden by charging an interest rate lower than the rate on your existing loans. Debt consolidation loan can also allow you to make small monthly payments by extending the loan period

thebestloans said...

Get cash out when you refinance your home mortgage. Best loans online

http://www.debt-consolidation.com said...

Debt Settlement
Debt Relief can help you reduce your interest burden by charging an interest rate lower than the rate on your existing loans. Debt consolidation loan can also allow you to make small monthly payments by extending the loan period
http://www.debt-consolidation.com

Debt Consolidation Refinance said...

was looking for information, but I haven't found what I was looking for. Recently I was searching the net for a debt consolidation loan and I came upon Bad credit home loans. I was able to get a lot of good information from http:\\creditscoreimprovementguide.com. I got a free credit report and got qualified for a low interest rate. I was also able to consolidate a lot of debt that I had into my mortagage payment. I would recommend http:\\creditscoreimprovementguide.com to anyone looking for a California mortgage whether it's a purchase or a refinance. Check http:\\creditscoreimprovementguide.com out, I'm glad I did.