Big Oil Employees Support Obama
By Don | August 8, 2008
Barack Obama is criticizing John McCain's contributions from big oil while ignoring the fact that the employees of those same companies have donated more money to his campaign than McCain's.
From ABC News' Jake Tapper.
McCain has received three times more money from the oil industry in general -- $1.3 million for McCain compared to approximately $394,000 for Obama. But that said, Obama has received more campaign cash than McCain has from the employees of some of the biggest oil companies -- Exxon, Chevron and BP.
This might seem to complicate Obama's continual use of Exxon-Mobil on the stump.
In Youngstown, Ohio, this week Obama said that McCain is "offering $4 billion more in tax breaks to the biggest oil companies in America -- including $1.2 billion to Exxon-Mobil...a company that, last quarter, made the same amount of money in 30 seconds that a typical Ohio worker makes in a year."
In Lansing, Michigan, Obama said Exxon-Mobil "is the company that, last quarter, made $1,500 every second. That’s more than $300,000 in the time it takes you to fill up a tank with gas that’s costing you more than $4-a-gallon. And Senator McCain not only wants them to keep every dime of that money, he wants to give them more. So make no mistake – the oil companies have placed their bet on Senator McCain."
But based on data downloaded electronically from the Federal Election Commission on July 29, 2008, reports CRP: "Through June, Exxon employees have given Obama $42,100 to McCain's $35,166. Chevron favors Obama $35,157 to $28,500, and Obama edges out McCain with BP $16,046 vs. $11,500."
If Obama is so hell bent on reducing our dependence on oil and thinks large oil companies are so evil, why is he accepting any money from them to begin with?
2 Comments | Post a Comment
Sorry, I meant to type “RIG the marketplace.” Congress has artificially restricted the supply of oil and coal, which drives up the price
August 8 at 12:28 pm | #1 | Link
I think you need to take this further, though thank you for this much.
It’s supply and demand. The oil companies make more money when prices are high. Prices are high when supply is limited. Obama wants to keep supplies limited, which will increae oil company profits. McCain wants to increase the supply, which will drive down oil company profits.
Congress has done for te oil company what would normally be illegal uner Anti-Trust laws —right the marketplace by artificially restricting the supplies on the marke.t