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About This Page: This is a discussion on Politics within the LetsGoKings.com forums, at Los Angeles Kings Hockey Fan Forum. As we all have probably heard by now, McCain has recently switched his postion on offshore drilling from being opposed to being in favor of it and has attacked Obama
On June 10, John B. Hess, a top executive at the oil company with his family name, summoned friends to the 21 Club, a former speakeasy in Manhattan, and delivered $285,000 to John McCain and the Republican National Committee.
A week later, McCain traveled to Texas and announced his support for offshore oil drilling.
Hess Corp. is an East Coast gasoline retailer with major refining and exploration operations, some of which happen to be offshore in the Gulf of Mexico.
And money continues to pour in from oil companies:
Campaign contributions from oil industry executives to Sen. John McCain rose dramatically in the last half of June, after the senator from Arizona made a high-profile split with environmentalists and reversed his opposition to the federal ban on offshore drilling.
Oil and gas industry executives and employees donated $1.1 million to McCain last month -- three-quarters of which came after his June 16 speech calling for an end to the ban -- compared with $116,000 in March, $283,000 in April and $208,000 in May.
And don't forget that high ranking McCain campaign officials are lobbyists for Hess:
It turns out that two high-ranking McCain campaign officials, one of whom is also one of McCain's more prolific bundlers, were both were paid lobbyists for Hess for roughly three years, according to disclosure forms.
The two lobbyists are Wayne Berman, McCain's national finance co-chairman, and John Green, who's been the McCain campaign's chief Congressional liaison since March. Both men worked for a firm called Ogilvy Government Relations. The firm has been paid $800,000 by Hess from 2005 up to the present, including $720,000 during the period that both of the two lobbied for the company, the forms say.
Berman, a prolific fundraiser and bundler for McCain, appears to still be lobbying for Hess. The most recently filed form shows that he was lobbying for the company as late as mid-July. Green took a leave of absence from Ogilvy to join the campaign, but was still on the Hess account up through the first quarter of 2008, the forms show.
John McCain. In the pocket of big oil.
__________________ I'd rather some one was holding the constitution and burning the flag than vice-versa.
However or whatever happens I'm am convinced there will be some sort of crash in this market and there will be investigations about it. Just like mortgages (ie Real Estate) and the stock market before it, we will find out that some funny business was going on. Guaranteed.
However, the run up in profits for these companies (I've said this before) is due to the lack of competition in the market. If you want the profits to be more moderate the "barrier to entry" into the oil business needs to be lowered. Until that happens it will be big profits for few companies.
jom
__________________ Old men's room wall saying: Flush hard, it's a long way to Washington
Excuse me guys, I was unaware that Obama had publicly switched his position on off-shore drilling a week after his campaign recieved 213,000 dollars. That article was written in March.
According to this article, either Obama is a liar or McCain is also not in the pockets of Big Oil as the title of this thread states.
I am also curious to find out what amount of profit is okay and what kind of profit is not okay.
That's easy. For example, profits by Republican businessmen is BAD. Profits by liberals in the entertainment industry is GOOD.
There does need to be something done with the oil industry though. The barriers to entry are impossibly high and the consolidation that was allowed has created just a few super companies. The Republicans have allowed the industry to go to far in terms of mergers.
Leases for federal land that go unused for a specified amount of time should be revoked. Tax incentives for exploration should be suspended or eliminated. At these prices there is ample incentive to explore for more oil.
__________________ Hockey's original bad boy. The "Cowboy" Howie Young
Excuse me guys, I was unaware that Obama had publicly switched his position on off-shore drilling a week after his campaign recieved 213,000 dollars. That article was written in March.
I suppose we'll find out in a couple of months then as Obama just recently switched his position as well.
Totally agreed, Is there a name for a political system that allows for one man to decide an arbitrary cap on another mans labor?
Democracy? And it's not a cap (meaning above this amount, the govt. takes everything), it's a percentage tax just like any other.
I'm not a fan of the "take it away and give rebates to each consumer" plan, but I wouldn't mind it if it was done to fund renewable energy R+D considering the majority of oil company profits are being used to buy back stock. Enough of these stupid, politicized short-term rebates and "stimuli"--INVEST.
McCain is clearly in the pocket of Big Oil 
SmytheKing
