Oil and Gas Lobbying on Capitol Hill up a Whopping 57% in 2008 [2]
Spending by oil and gas companies lobbying politicians on Capitol Hill jumped a whopping 57% between 2007 and 2008.
The oil and gas sector paid out a total of $128.6 million in 2008, compared to only $82 million in 2007. According to research we compiled using OpenSecrets.org’s database, [8] this is an unprecedented rise in US lobbyist expenditures by the oil and gas sector.
In terms of lobbyist expenditures, the top 5 companies accounted for $72.6 million of this spending in 2008. In the year previous the top 5 spent only $38.76 million - a 53% increase in spending in a single year.
Here’s a breakdown of the lobbying expenditures by top 5 oil and gas companies:
1. ExxonMobil (NYSE: XOM) [9] - spent $29 million in 2008, up from $16.9 milion in 2007.
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2. Koch Industries Inc. [11] - spent $15 million in 2008, up from $4.3 million in 2007
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If you’ve never heard of Koch Industries Inc., you can check out a profile on the company that we’ve compiled here: Koch Industries Inc. [13]
3. BP America (NYSE: BP) [14] - spent $10.45 million in 2008, up from $4.6 million in 2007
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4. Chevron Corporation (NYSE: CVX) [16] - spent $9.8 million in 2008, up from $8.9 million in 2007
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5. Conoco Phillips (NYSE: COP) [18] - spent $8.4 million in 2008, up from $4 million in 2007
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One Washington, DC insider says this unprecedented rise in lobbying activity is due the oil and gas industry feeling that they’re in an “end game” with Congress considering a nationwide cap and trade policy and President Barack Obama turning his attention to alternative energy policies:
In late February of this year the Center for Public Integrity released a report [20] finding that:
This month we’re giving away FREE copies Keith Farnish’s new book Times Up: an uncivilized solution to a global crisis. [21]
Go here to find out more details about DeSmogBlog’s monthly book give-away. [22]
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