Representative Phil English Helps Big Oil Rake in More Big Profits
News Reports: Oil may hit $200 a barrel as Top Five Oil Companies Report Another Multi Billion-Dollar Quarter in Profits
With today's news that oil could soon top $200 per barrel and Pennsylvania drivers are now paying $3.5 per gallon, why is Representative Phil English continuing to give tax breaks to profitable Big Oil companies instead of lowering the price at the pump for American families?
Big Oil special interests have been one of Representative Phil English's best friends in Washington, contributing $185,136 to his campaigns. Maybe that explains why Representative English is working harder to protect their obscene profits than to lower the price of gas for struggling families in Pennsylvania, said Doug Thornell, spokesman for the Democratic Congressional Campaign Committee. "The next time a trip to the gas station costs more than you were expecting, remember to thank Representative English for standing with Big Oil special interests instead of America's working families."
Background
- An analyst at Goldman Sachs today reported that the price of oil could surge between $150 and $200 per barrel within the next two years [AP; May 7, 2008 [1]].
- Last week, the nation's top five oil companies reported nearly $37 billion in first-quarter profits [WSJ Marketwatch; May 2, 2008 [2]].
- According to AAA, drivers in Pennsylvania currently pay an average cost of $3.5 per gallon at the pump [http://www.fuelgaugereport.com/sbsavg.asp [3] blocked::http://www.fuelgaugereport.com/sbsavg.asp http://www.fuelgaugereport.com/sbsavg.asp [4] blocked::http://www.fuelgau">http://www.fuelgaugereport.com/sbsavg.asp].
- The 110th Congress has passed several measures, with strong bipartisan support, to lower AmericaR17;s spiraling energy costs, including:
- The Renewable Energy and Energy Conservation Tax Act (H.R. 5351), which will end unnecessary taxpayer subsidies to Big Oil companies and use that money to make investments in clean, renewable energy and promote energy conservation [H.R. 5351, http://clerk.house.gov/evs/2008/roll084.xml [5] blocked::http://clerk.house.gov/evs/2008/roll084.xml http://clerk.house.gov/evs/2008/roll084.xml [6] blocked::http://c">#84, 2/27/08].
- Representative Phil English continues to receive strong financial support from Big Oil. Representative English has received $185,136 from Big Oil contributors.
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For Immediate Release, May 7, 2008
CONTACT: Jennifer Crider & Doug Thornell (202) 485-3440
