Friday, November 03, 2006

Chabot and Oil, an interesting read

From a recent Cranley PR:

CHABOT'S OIL STOCKS GUSH WITH PROFITS - 11/2/2006

CHABOT'S OIL STOCKS GUSH WITH PROFITS
--Chabot denies his votes that stand to benefit his oil stocks--

(Cincinnati -- OH-1) Chabot's oil stocks Gulf Island Fabrication and Encore Acquisition have reported another quarter of profits. SEE article on Gulf Island here and Encore Acquisition here.

This news follows a recent analysis of Chabot's stocks by The Cincinnati Enquirer:

"Chabot's investments have done quite well. Not including some small dividends, GIFI is up 24 percent since Chabot bought it. EAC is up 34 percent, and MTRX (boosted by some private contracts to repair facilities damaged by Hurricane Katrina) is up 74 percent. The Dow Jones Industrial Average was up 19 percent over the same period." (From "Ad Watch: Oily Welfare," The Cincinnati Enquirer, 10/24/06)

Chabot, however, still refuses to admit that he has been voting to give oil companies billions in royalty relief and tax
breaks for oil companies. (Cranley-Chabot Waycross Debate 10/09/06)

Also, from the DCCC:

Cheney, Chabot Team Up for Oil Special Interests as Gas Prices Keep Rising

Oil Loving Duo Get Together for Special Interest Fundraiser as Ohio Families Pay More in Gas Than Ever Before. Fundraiser Will Cost Cincinnati Taxpayers Thousands

$1.07 Price per Gallon of Gas in U.S. When Chabot Took Office

$2.33 Price per Gallon of Gas in Ohio When Energy Bill was Signed

$2.70 Price per Gallon of Gas in Ohio Today

$2,000 Amount of Money From Cheney-Run Halliburton Accepted by Chabot

$76,350 Amount of Big Oil Money Accepted by Steve Chabot

$2.6 billion Amount in Giveaways to Big Oil Voted for by Steve Chabot

(Washington, D.C.) – Today, with gas prices on the rise, Vice President Dick Cheney is flying to Cincinnati for a campaign stop with Rubber Stamp Republican Steve Chabot. The high-dollar, special interest fundraiser that Cheney is holding for Chabot is just the latest one likely to net money from Cheney and Chabot’s friends in the oil industry. Cheney, the former oil executive who received widespread criticism for holding secret White House meetings with oil executives now making historic profits, has long been a proponent of big oil. Cheney has helped campaigns raise money and has pushed legislation in Congress designed to benefit big oil, but not the Americans paying record gas prices. Chabot, too, has been a supporter of big oil. He has taken more than $76,000 from the oil and gas industry over his career and just last year, voted in Congress to send at least $2.6 billion in taxpayer-funded giveaways to big oil. Chabot’s vote was for the Bush-Cheney special interest energy bill that does nothing to stop gas price gouging nor has it slowed the meteoric rise in the price at the pump.

“In Congress, Steve Chabot rubberstamps the Bush-Cheney agenda which sends sending billions to big oil. Meanwhile, back home in greater Cincinnati, families are pumping their wallets dry with record gas prices,” said Bill Burton, communications director of the Democratic Congressional Campaign Committee. “Greater Cincinnati families deserve a member of Congress who puts their interests ahead of the special interests and by bringing Dick Cheney in to campaign for him, Chabot confirms that a vote for him is a vote for the Bush-Cheney status quo. It’s time for a new direction in Washington because while Chabot and Cheney have been padding the pockets of big oil, Ohioans are paying more for gas than ever.”

Chabot Voted For Energy Bill That Sent Billions to Big Oil. In voting for the energy bill, Steve Chabot and Republicans in Congress supported a measure that did nothing to lower gas prices and gave short shrift to energy efficiency and renewable fuels all while sending $2.6 billion in giveaways to the oil and gas industry. [HR 6, Vote #132, 4/21/2005; Congressional Quarterly Weekly, 7/29/05]

Chabot Opposed Cracking Down on Price Gouging & Lowering Gas Prices. In 2005, Steve Chabot and Republicans in Congress voted three times against measures to provide the Federal Trade Commission with new authority to investigate and prosecute those that engage in predatory pricing, from oil companies on down to gas stations, with the emphasis on those who profit the most. This included price gouging of gasoline and natural gas, home heating oil and propane. [HR 3893, Vote #517, 10/7/2005; HR 3893, Vote #518, 10/7/2005; HR 3402, Vote #500, 9/28/2005]

Cheney Fundraisers are Expensive

It could cost upwards of $57,000 per hour to taxpayers. President Bush's plane, Air Force One costs $57,000 per hour. With Vice President Cheney soaring in to campaign for Steve Chabot, doesn’t Chabot have an obligation to repay taxpayers for this expense?

Question: Will Chabot Pay for Cheney’s Visit? Having the vice president come to town is a very expensive process. Between the cost of flying a plane like Air Force Two and landing it on a runway, the cost to local police and the cost to the city for traffic and other interruptions, a Cheney visit is a pricey affair. There is precedent for campaigns reimbursing their cities for the cost of these visits, as recently as a few months ago. Chabot’s colleague, Representative Chris Chocola, reimbursed two cities after a visit from President Bush. According to news reports, Chocola will send at least $12,000 to two cities as a result of costs incurred from extra security, and use of the airport. [Elkhart Truth, 3/4/06]

2 Comments:

At 10:35 PM EST, Anonymous Anonymous said...

Chabot lied in the debates about his blatant tax breaks to the Oil Companies that make the poor and middle class bear the burden. Worse, Chabot has voted against increased Amtrack funding that would help many Americans conserve energy. This comes from a guy who once called tax breaks for oil companies "corporate welfare" Gee, what a flip-flopper.

 
At 11:59 AM EDT, Anonymous Anonymous said...

I think Government Officials should not given themselves a pay increase ever again until they do their job and get gas prices down!! They do not purchase their gas, we do. Live like real Americans and DO YOUR JOBS!! We are not a Third World Nation!! Fix our problems or get out!!

 

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