Even now that the economy is hitting the skids bigtime and the price of oil is back down below $100 ($66 per barrel on Oct. 30 according to CNNMoney)—prompting OPEC at its Vienna meeting to decide to cut production, after months of high output (WSJ, Oct. 25)—Exxon’s profits continue to break records. John McCain seizes on this to take a cheap (if none too logical) shot at Obama…
First, the Chicago Tribune’s The Swamp blog points out the bizarre irony of McCain’s latest charges:
Obama’s a socialist corporate tool?
One day, Sen. John McCain is pushing the notion that Sen. Barack Obama is a socialist intent on spreading the wealth of higher-paid Americans to lower-income Americans. Today, McCain was pitching the idea that Obama was a corporate tool for the oil industry.
Here’s what McCain said this morning at his Defiance, Ohio rally following Exxon Mobil’s announcement of its record corporate profits.
Today — (cheers, applause) — today ExxonMobil reported record profits. Senator Obama voted for billions in corporate giveaways to the oil companies. I voted against it. (Cheers, applause.) When I’m president, we’re not going to let that happen.
Conflicting messages, yes. But this is clearly throw-it-all-against-the-wall-and-see-what-sticks time for the McCain campaign.
Next, the Washington Independent points out that both candidates have actually voted for Big Oil tax-breaks, and both have taken money from the oil companies—but McCain way more!
Which Candidate Does Exxon Have a Bigger Crush On?
Shock, surprise! Exxon Mobil Corp. reported record-breaking quarterly profits today. The oil company earned $14.83 billion in its fiscal third quarter, more than any company in U.S. history.
Hearing the news, Sen. John McCain accused Sen. Barack Obama of being in the pockets of Big Oil, a charge Obama has repeatedly leveled at McCain in campaign ads. McCain blasted Obama for supporting tax breaks for oil companies in a 2005 energy bill.
The Arizona senator didn’t mention, however, that he and Obama recently voted for a piece of legislation — the energy package tacked onto the $700-billion bailout bill — that gave even more tax breaks to oil companies. Passage of the energy package — whose primary purpose was to bolster clean energy — was continually delayed because Republicans in Congress refused to support a bill that didn’t help fossil-fuel companies.
Neither presidential candidate has talked about how much money his campaign has received from the big, bad oil companies. Here are the numbers: The McCain campaign has received $1.3 million, while the Obama team has gotten $400,000.
Stick that in your barrel and refine it.