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Led Astray: Oil Lobby to Set Records in 2008

Published 08/19/08 Craig Harrington - Print Article
E-mail - editor@economyincisis.org

The oil industry is set to break its own record for lobbying fees – the record of $83 million was set last year – if the pace of its current payouts continue, according to CNN Money.

With gas and oil prices still far beyond historical averages, and a looming presidential election, the industry is spending furiously to maintain its presence in Washington. Aside from the partisan strife which has long rendered the government anemic, it seems that the oil industry is paying in hopes of maintaining the status quo in Congress.

Renewable and alternative energy sources – which carry the promise of weaning America from its oil addiction – continue to struggle for Washington funding, and policy makers on both sides have promised a new energy plan, yet no bill has made it through the Congressional deadlock. While the incessant political infighting is certainly a driving force for the mediocre state of this Congress, “you shouldn’t ignore the money,” said Norman Ornstein of the American Enterprise Institute.

The economy is unproductive, fuel and transportation have never cost more, the housing industry is on the verge of collapse, and still Congress cannot find the will to act. Oil money, to the tune of $55 million thus far in 2008, continues to pour into Washington, encouraging politicians to stand pat, and allow the industry to rake in massive profits while completely ignoring alternatives that are in dire need of capital infusions for research and development.

Oil companies are not the root of the evil, they are merely part of the system, and it is that system which needs reform. The government should support American industries like oil, but it should not be doing so at the expense of other industries and at the expense of the citizens. The government should be regulating the oil industry, putting the revenue in the hands of American workers instead of foreign wealth funds. All of this is attainable; we can break our addiction to foreign oil with perseverance, dedication and innovation. The problem is now and always has been a problem of will power, something which has been sorely lacking in the government for some time.

Source CNN Money:

As angry voters spark a barrage of energy bills in Congress, the oil industry is spending record amounts of money protecting its interests…

"In the minds of most people, you rarely spend money to get nothing done," said Massie Riesch, communications director for CRP. "But in government, people often spend vast sums of money to make sure nothing happens at all."

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