Over the past several years, ExxonMobil Corp. has pretty well had its way in all of its dealing with governments at every level. That may be a result of the company’s strong political connections as well as its intense lobbying efforts. The giant oil company spent almost $3.1 million to lobby the federal government on energy tax credits, climate change and other issues in the first quarter of the year. The company also lobbied on various appropriations bills and on legislation dealing with consumer product safety among other things. ExxonMobil spent more than $16.9 million to lobby the federal government in 2007. Of course, the company and its officers and employees — as well as law firms and consultants who work for them – also contribute huge sums to political campaigns.
The oil giant also contributes to the shadow groups (527 committees) that pay a large part of the GOP political operations. It appears the lobbying and contributions paid off since the energy bill President Bush signed in December failed to include billions of dollars in higher taxes for large oil companies. Many Democrats in Congress wanted these proposed taxes to fund incentives for various clean energy industries, but that effort was derailed by the oil giants and as a result nothing happened. You can chalk that up as another win for ExxonMobil.
Source: Associated Press
Contact us today for a free legal consultation with an experienced attorney.
Fields marked *may be required for submission.
If you would like to subscribe to the Jere Beasley Report digital edition, simply visit our Subscriptions page and provide the necessary information or call us at 800-898-2034.
Attorney Advertising - Prior results do not guarantee a similar outcome.