Later On

A blog written for those whose interests more or less match mine.

McCain and Keating

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So far as learning his lesson, recall how McCain flipped his position on offshore drilling in return for major contributions from Big Oil: here, here, and here. A snippet from just one of those:

Sen. John McCain (R-AZ) has made his complete reversal on offshore drilling a centerpiece of his presidential campaign, insisting that expanding offshore drilling into protected areas would lead to more oil supply on the market “within a matter of months” — regardless of the Energy Information Agency’s projection that oil would not reach the market for nearly a decade and “would not have a significant impact” on oil prices.

Though more drilling won’t help Americans save money at the gas pump, it has certainly helped McCain win massive campaign donations from Big Oil. A new report by Campaign Money Watch shows that contributions to McCain from Big Oil skyrocketed directly following his June speech in Houston, when he pledged his support of offshore drilling before an audience oil executives. The report notes:

In Texas alone, June oil and gas-connected donations to McCain’s Victory ’08 Fund, his hybrid fundraising venture with the RNC and state committees, reached $1,214,100.

Of that total, $881,450, or 73 percent, came after June 15. McCain announced his position in favor of offshore drilling on June 16.

The report notes that these enormous contributions represent a seven-fold increase in donations, compared to McCain’s 2000 campaign.

Written by Leisureguy

22 August 2008 at 12:47 pm

Posted in Business, Election, GOP

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