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August 19, 2008
Posted: 04:50 PM ET
FROM CNN's Jack Cafferty: With high gas prices have come a chorus of election year ideas about what to do. And when those voices start singing, the oil company lobbyists spring into action. See, a lot of Americans blame the big oil companies for our energy problems. The oil industry is fighting back with tens of millions of dollars being spent by their lobbyists to keep Congress from punishing them. In fact, the big oil companies are on track to surpass last year's record spending for lobbyists of $83 million, according to the Center for Responsive Politics. And it seems to be working. See, suddenly the oil industry is the subject of a bunch of proposed legislation in Congress - none of it good for the oil companies. Democrats and environmentalists generally favor higher taxes on the oil companies and more funding for renewables. Republicans want the oil companies to drill more oil wells. When it comes to lobbying the presidential candidates, big oil has spent $11 million so far - with Republican candidate John McCain benefiting the most. He's received $1.4 million in cash contributions from oil employees – that's the most of any candidate – and three times as much as Barack Obama. Remember I said its working? So far, no legislation has cleared Congress on any of this. Gas prices are coming down a little on their own. And Congress is on vacation. A financial analyst would suggest the millions of dollars spent on lobbying by the oil companies is money well spent. Here’s my question to you: Can your voice be heard when the oil industry will spend more than $80 million lobbying Congress this year? Interested to know which ones made it on air?
Michelle writes: David from Granville, Ohio writes: Ray from Nashville, Tennessee writes: Chad writes: Carol from Durham, Maine writes: Filed under: US Economy
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Jack Cafferty sounds off hourly on the Situation Room on the stories crossing his radar. Now, you can check in with Jack online to see what he's thinking and weigh in with your own comments online and on TV. Send your comments on the "Cafferty File". Jack's Book
Read excerpts about Jack's battle with alcoholism and Jack's philosophy on parenting. CNN=Politics Screensaver
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