Big Oil lobbying hard

| 8/19/2008

America’s biggest oil companies may not be investing enough in exploration to satisfy some critics, but no one can accuse them of not spending big money on lobbyists.

CNN reported that the oil industry is expected to spend more than $83 million on lobbyists this year, breaking last year’s record.

Larry Sabato, director of the Center for Politics at the University of Virginia, told CNN that the sheer size of the industry – six of the 10 biggest companies in the world are oil firms – means a refinery or chemical plant sited in a politician’s district can mean lots of jobs and lots of tax revenue.

Right now, the lobbyists are busy pushing for the Republican plan to allow more offshore drilling and resisting the Democrat’s plan to sock the oil companies with a windfall profits tax.