Transportation

Report | CALPIRG Education Fund | Transportation

Big Money to Big Oil

As the oil industry continues to collect record profits from high oil and gasoline prices, President George Bush is poised to sign into law an energy bill that allows the oil companies to pay even less in taxes and less in royalties for publicly-owned resources. Meanwhile, the new energy law will exempt the oil industry from several environmental laws, allowing even the most profitable companies to pollute our waterways and drinking water. Finally, on several issues that affect the oil and gas industry, the new energy law will wrest decision-making power away from state and local governments, giving it instead to more industry-friendly federal agencies. ExxonMobil, the world’s largest private oil company, could benefit handsomely from this flawed energy plan.

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