2011-07-26

THE BALANCE SHEET | July 26, 2011

Our weekly update to unravel the industry and political spin around the energy debate

IN CASE YOU MISSED IT

LET’S PLAY PIN THE PRO-DRILLING AMENDMENT ON THE SAFETY BILL

Last Thursday, Sen. John Barrasso (R-WY) started his birthday by filing pro-oil and gas amendments to S.917 at the Senate Energy and Natural Resources Committee markup. Then it was on to lunch with the United Technologies (UT) PAC, which already has already him $3,500 this cycle. Interestingly, one of UT’s subsidiaries is Sikorsky Aircraft Corp., whose spokesman once said, “Offshore oil has been the big driver of commercial helicopter business in general and for us in particular.”

OIL INDUSTRY ‘SITS PRETTY’ ON UNUSED PERMITS

Wednesday, The Wilderness Society an analysis revealing that the same oil and gas companies trying to blame the government for high gas prices have failed to develop 6,573 federal drilling permits issued to them by the Bureau of Land Management. Over 97 percent of those permits are located in the Rocky Mountain region. Those permits mean the holders have a green light to drill, so we’re confident Rep. Doc Hastings and Rep. Doug Lamborn will be calling CEO’s to the carpet any day now to explain why they’re not using those permits.

CHOSING BIG OIL OVER AMERICAN FAMILIES

In an op-ed for The Hill, Checks and Balances Project Deputy Director Matt Garrington how Sen. Barrasso is more concerned about keeping his Big Oil contributors happy than keeping American families safe. Sen. Barrasso has repeatedly demonstrated his priorities though several attempts to dismantle the Interior Department’s drilling protections, which are meant to keep Americans safe from reckless practices.

DID YOU KNOW?

BUYING OUT THE HOUSE

According to the Public Campaign Action Fund, “a whopping 94% of House oil PAC money recipients in the first 6 months of 2011 voted to keep these wasteful subsidies.” Big Oil donated a total of $1.2 million to members of Congress through registered PACs

COMING UP THIS WEEK

HIGH GAS PRICES AND HUGE PROFITS

The big five oil companies are expected to announce another profitable quarter for 2011. Look for the strategic messaging from these corporations and their congressional investments as they try to explain needing billions in taxpayer handouts while collecting billions in profits

CONTACT

Twitter: @checksandbals | Email: [email protected]