What are we really doing in Iraq? Many of us have suspicions about Bush/Cheney ties to the oil industry, right?
The oil and gas industry has contributed over $66.7 million to the RNC, NRCC, NRSC, and Republican candidates since the 2000 election cycle. The oil and gas industry contributed more than $20 million to Republicans in the 2004 cycle alone-four times more than oil money donated to Democrats. In 2004, Exxon alone gave 831,941 to Republicans.
So. What did they get for their money?
According the Energy Information Administration, the price of regular, unleaded, gasoline has risen by 70 cents, or 47.9 percent, since Bush's 1st inauguration.
Tch, tch, tch. That's gotta hurt.
According to the Washington Post, "Oil companies reported record profits last year-and not just records for oil companies. Royal Dutch Shell earned $18.54 billion, while BP lagged behind with a net income of $15.73 billion, a company best. ExxonMobil broke the U.S. record by reporting a 2004 profit of $25.33 billion, taking the title away from Ford. ConocoPhillips's profit for the year rose 72 percent, while ChevronTexaco's grew 84 percent." Exxon's 2004 revenues were a company record: $298.03 billion. In February, Exxon surpassed General Electric Co. to become the largest U.S. corporation by stock market value.
Someone else, I meant.
A February 2004 analysis by the Energy Information Administration of the 2003 compromise energy bill-nearly identical to the current bill-found the price of oil and the level of imports would be "negligible" with or without that energy bill, all the way through 2025. According to the New York Times, Bush "advisers caution that the [Bush energy] plan would do little to address the escalating gasoline prices."
According to the Los Angeles Times, "Politically, it doesn't matter if such provisions deal with the long term, said [Stuart Roy, Republican strategist and former aide to House Majority Leader Tom DeLay. ‘The most important thing for policy makers in the current environment of relatively high gas prices and the approaching summer travel months is action.'" [LA Times, 4/16/05]