Published: Monday 5 November 2012
FreedomWorks’ super PAC has spent more than $19 million on political advertising including $1.7 million on Oct. 29 opposing Tammy Duckworth, a Democrat running for Congress in Illinois against tea party favorite Joe Walsh, a first-term incumbent.

 

The biggest corporate contributor in the 2012 election so far doesn’t appear to make anything — other than very large contributions to a conservative super PAC.

Specialty Group Inc., of Knoxville, Tenn., donated nearly $5.3 million between Oct. 1 and Oct. 11 to FreedomWorks for America, which is affiliated with former GOP House Majority Leader Dick Armey.

FreedomWorks’ super PAC has spent more than $19 million on political advertising including $1.7 million on Oct. 29 opposing Tammy Duckworth, a Democrat running for Congress in Illinois against tea party favorite Joe Walsh, a first-term incumbent.

The buy was more than four times greater than the group’s previous largest single expenditure.

Specialty was formed only a month ago. Its “principal office” is a private home in Knoxville. It has no website. And the only name associated with it is that of its registered agent, a lawyer whose phone number, listed in a legal directory, is disconnected.

Specialty is the biggest and most mysterious corporate donor to super PACs, but it is not unique.

A new analysis by the Center for Public Integrity and the Center for Responsive Politics shows that companies have contributed roughly $75 million to super PACs in the 2012 election cycle.

Super PACs, which were created in the wake of the controversial U.S. Supreme Court’s Citizens United decision in 2010, can accept donations of ...

Published: Friday 2 November 2012
“Last month, Chevron made the single-largest corporate donation since Citizens United.”

 

Chevron, the second largest oil company in the United States and eighth largest in the world, earned $5.3 billion in profits in the third-quarter of 2012. This brings their total profits for the first nine months of this year to $19 billion.

Last month, Chevron made the single-largest corporate donation since Citizens United. The company dropped $2.5 million with the Congressional Leadership Fund, a super PAC for House Republicans, after congressional GOP voted at least twice to protect Chevron’s $700 million tax breaks.

Below is a glimpse at what Chevron is spending its billions in profits:

  • Chevron paid a 19 percent effective federal tax rate in 2011, after making $26.9 billion profit.
  • Since 2011, Chevron has spent $16.6 million lobbying Congress to block pollution controls and safeguards for public health.
  • Chevron spent $3.7 million on campaign contributions this election, with 85 percent of contributions going to Republicans.  Chevron gave more than any of the other Big Five Companies.
  • Meanwhile, Chevron’s production has decreased by over 6 percent since this time last year, from 1.7 billion barrels of net liquids (oil + natural gas ...
Published: Sunday 7 October 2012
“A massive vapor cloud, leaking from an old pipe at the refinery, had filled the evening sky and then ignited.”

Standing on the dock next to her houseboat in affluent Sausalito, Calif., around dinnertime on Aug. 6, Lovise Mills watched a thick, black cloud of smoke pouring into the sky, partially hidden behind the hills that ring her picturesque community.

 

Stunned, Mills took pictures and posted them on Facebook. “What the hell is that?” she asked.

 

Ten miles across San Francisco Bay, Christina Saeteurn, 22, watched the same cloud. Saeteurn grew up in public housing in North Richmond and went to school in the shadow of the smokestacks, pipes and tanks of Chevron’s Richmond Refinery. She knew exactly what “that” was.

 

A massive vapor cloud, leaking from an old pipe at the refinery, had filled the evening sky and then ignited.

 

“When you looked outside, the sky was completely black,” Saeteurn said. “It looked like something out of a science fiction book or movie. You could smell the fumes; it is a weird smell. It smelled toxic.

 

“The explosion was horrible – I wish it had never happened – but it opened a lot of eyes of people outside of Richmond, people who never acknowledged the problem of the refinery before,” said Saeteurn.

 

The sooty cloud seen for miles sent a message to families throughout the region, and organizers hope the new awareness will provide a rallying point for pressuring politicians and pushing Chevron toward safer operation.

 

The 110-year-old refinery covers 2,900 acres; its smokestacks are as tall as skyscrapers. The hundreds of tanks nestled around the refinery can hold up to 15 million ...

Published: Sunday 12 August 2012
Tens of thousands of area residents were ordered to stay in their homes with the windows and doors closed after a series of blasts Monday sparked blazing fires that sent huge plumes of smoke.

 

More than 900 people have sought medical treatment following a massive fire at a Chevron oil refinery in Richmond, California. Tens of thousands of area residents were ordered to stay in their homes with the windows and doors closed after a series of blasts Monday sparked blazing fires that sent huge plumes of smoke. Chevron now says the situation is under control. We talk with Richmond Mayor Gayle McLaughlin, a member of the Green Party, who is seeking a full investigation into the blaze. "We have a community that has been fighting chevron for a long time, and I'm proud to and honored to stand for that community," McLaughlin said. We're also joined by Andres Soto, the Richmond organizer for Communities for a Better Environment, an environmental justice group that has previously sued Chevron over what it says was a shoddy environmental impact report. "They refuse to sit at the table, they refuse to negotiate in good faith with the community over a wide range of issues, whether it's fair taxation or whether it's environmental safety and environmental justice," Soto said.

 

Transcript

NERMEEN SHAIKH: We go now to Richmond, California, where over 900 people have sought medical treatment at local hospitals following a massive fire and a Chevron oil refinery, the second-largest in the state. A series of blasts erupted early Monday evening sparking the blazing fires that sent large plumes of smoke into the sky. Tens of thousands of residents of Richmond, North Richmond and San Pablo were ordered to stay in their homes with the windows and doors closed to avoid breathing in hazardous fumes. Local authorities issued a level 3 warning for fire, meaning it can cause eye, skin, nose or respiratory irritation. Residents interviewed by KTVU reported numerous health issues connected to the fire.

RICHMOND RESIDENT: ...

Published: Sunday 12 August 2012
“Thankfully, only two minor injuries from the explosion were reported at the refinery and among the 100 firefighters who battled for five hours to contain the blaze.”

For thousands of people in the San Francisco Bay Area communities of Richmond, North Richmond, San Pablo, and El Cerrito, last Monday was a night of terror.

 

Explosions and a massive fire shook Chevron's giant refinery in Richmond starting around 6:15 p.m. Our own Jessica Meskus, the associate art director of Sierra magazine, lives about four miles from the refinery and got home at about 6:30:

 

I heard the sirens go off. It happens every once in a while. I've lived there three years. When it happens, you close your doors and windows, and you wait for someone to tell you what's going on. So I went outside to get Wilma, my tortoise, from the backyard and make sure my dogs Lex, Leela, and Moose were inside. As I bent down to pick up Wilma, I heard the second explosion and saw a huge plume of black smoke lift into the sky.

As soon as I heard the explosion, I yelled at my husband and screamed at our neighbors to lock up their house. We live downwind and it was coming straight at us. The sirens were going. We didn't know if it was an attack or something else. When you live in Richmond, you know there's a refinery there. But you just hope that it's safe.

 

It was about 15 minutes before anything came on the news. We had no warning call, which we get sometimes. We didn't know if we should jump in the car or what. The smoke completely blocked the sun.

 

Thankfully, only two minor injuries from the explosion were reported at the refinery and among the 100 firefighters who battled for five hours to contain the blaze. But that 4,000-foot high plume of black smoke that blacked out the sun was visible from all over the Bay Area, and it was filled with particulate matter, sulfur compounds, and other toxins. The San Francisco Chronicle reports that area hospitals logged 1,700 ...

Published: Wednesday 8 August 2012
“The 10 companies include Wall Street banks like Wells Fargo and JP Morgan Chase, oil companies like ExxonMobil and Chevron, and tech companies like Apple, IBM, and Microsoft.”

America’s 10 most profitable corporations paid an average corporate income tax rate of just 9 percent in 2011, according to a study from financial site NerdWallet reported by the Huffington Post. The 10 companies include Wall Street banks like Wells Fargo and JP Morgan Chase, oil companies like ExxonMobil and Chevron, and tech companies like Apple, IBM, and Microsoft.

The two companies with the lowest tax rates were both oil companies. ExxonMobil paid $1.5 billion in taxes on $73.3 billion in earnings, a tax rate of 2 percent. Chevron’s tax rate was just 4 percent. None of the companies paid anywhere near the 35 percent top corporate tax rate, providing more evidence to debunk claims that America’s corporate tax rate is stunting economic growth and job creation (Despite the high marginal rate, American corporations pay one of the lowest effective corporate tax rates in the world).

The study also calculated the overall amount the companies owed in both domestic and foreign taxes. This includes deferred taxes that will, theoretically, be paid in the future, once the companies bring foreign profits back to the United States. Apple, for instance, avoided $2.4 billion in American taxes last year by utilizing offshore tax havens.

If Republicans have their way, however, those deferred taxes may never be paid. Switching to a territorial tax system, a policy leading Republicans have

Published: Wednesday 25 July 2012
“In 60 seconds, these five companies earned $261,000 — more than 96 percent of American households make in one year.”

The Big Five oil companies – BP, Chevron, ConocoPhillips, ExxonMobil and Shell – are slated to announce their 2012 second-quarter profits later this week.

We can expect these companies, all of which rank in the top 10 of the “Fortune 500 Global Ranking,” to reveal billions of dollars more in profits, after earning $375 million in profits per day in 2011 ($261,000 per minute), and $368 million per day in the first three-months of 2012 — bringing their combined profits to $1 trillion from 2001 through 2011.

Below is a quick look at just how much these Big Oil companies are making, and where they are spending their billions in profits.

Big Oil’s Big Profits, In 24 Hours

  • In 60 seconds, these five companies earned $261,000 — more than 96 percent of American households make in one year.
  • These five oil companies received $6.6 million in federal tax breaks every day.
Published: Saturday 2 June 2012
While some came to cheer Chevron’s progress, a number of shareholders and their proxies brought questions and criticisms focused particularly on the environmental degradation they say Chevron causes in its exploration for and extraction of gas and oil around the globe.

The activists' message was inscribed on a giant puppet and on the many placards they waved at passing shareholders: "Occupy Chevron and Big Oil," "Chevron Makes Orphans," Fracking is Environmental Rape," "Chevron: Clean UP and Get Out of Metro Manila." 


Participants came from traditional environmental justice organisations such as Amazon Watch and Rainforest Action; their numbers were bolstered by the 99 Percent Power group, a several- months-old coalition that links the Occupy Movement with the fight against corporate greed and targets shareholders meetings. 


Inside Chevron headquarters, a more sedate crowd applauded Chevron's CEO/Chairman of the Board John Watson, who touted last year's record corporate earnings of 26.9 billion dollars, the company's improving safety record and Chevron's efforts to enhance communities they work in. 


"Abundant affordable energy raises living standards," Watson said. 


While some came to cheer Chevron's progress, a number of shareholders and ...

Published: Tuesday 29 May 2012
“The richest individuals and corporations are really good at building up fortunes. They’re even better at building up their job creator myth.”

In his "Gospel of Wealth," Andrew Carnegie argued that average Americans should welcome the concentration of wealth in the hands of a few, because the "superior wisdom, experience, and ability" of the rich would ensure benefits for all of us. More recently, Edward Conard, the author of "Unintended Consequences: Why Everything You've Been Told About the Economy Is Wrong, said: "As a society, we're not offering our talented few large enough rewards. We're underpaying our 'risk takers.'"

Does wealthy America have a point, that giving them all the money will ensure it's disbursed properly, and that it will create jobs and stimulate small business investment while ultimately benefiting society? Big business CEOs certainly think so, claiming in a letter to Treasury Secretary Timothy Geithner that an increase in the capital gains tax would reduce investment "when we need capital formation here in America to create jobs and expand our economy."

They don't cite evidence for their claims, because the evidence proves them wrong. Here are the facts:

1. The Very Rich Don't Like Making Risky Investments

READ FULL POST 14 COMMENTS

Published: Monday 14 May 2012
“Koch Industries has produced its own video claiming it doesn’t deserve the label of a secretive Big Oil corporation.”

The Obama campaign and the super PAC Priorities USA recently fired back at Americans for Prosperity, highlighting Mitt Romney’s ties to a funding source of $18.5 million in energy attack ads: Koch Industries.

Koch Industries has produced its own video claiming it doesn’t deserve the label of a secretive Big Oil corporation.

Shockingly, Factcheck.org and the Washington Post have taken up Koch’s argument.  Factcheck.org wrote that despite Koch’s $100 billion revenue, the corporation’s diverse holdings mean “it is hardly in the league of the truly ‘big oil’companies.” The Washington Post Fact checker took the same angle.

While it’s true the most profitable U.S. corporations — ExxonMobil and Chevron — are larger than Koch, using this standard to claim the company isn’t Big Oil is incorrect. Let’s take a look at some key facts:

·       The Koch brothers’ net worth tops $50 billion and they have pledged to spend $60 million to defeat President Barack Obama, according to the Huffington Post.

·       The Koch PAC is the largest oil and gas contributor — donating more than even ExxonMobil — spending over $1 million in each of the last two cycles. This cycle, it has spent 

Published: Friday 11 May 2012
“ALEC has faced backlash recently for its role in crafting Florida’s Stand Your Ground laws. Now the organization is taking the same secretive approach to kill renewable energy development across the country.”

Today, behind closed doors in Charlotte, North Carolina, legislators from 15 states will meet with the oil and gas industry to discuss so-called “model legislation” as part of the American Legislative Exchange Council (ALEC). The result could be laws that handicap renewable energy targets — while creating loopholes for fossil fuels, written directly by the oil and gas industry itself.

ALEC has faced backlash recently for its role in crafting Florida’s Stand Your Ground laws. Now the organization is taking the same secretive approach to kill renewable energy development across the country.

Oil and gas corporations have a very strong role in politics through groups like Americans For Prosperity, American Petroleum Institute, and, of course, ALEC. Four of the largest oil and gas corporations and two of the most profitable U.S. corporations overall, ExxonMobil, Chevron, Shell, and BP, sit on ALEC’s task forces. And so today, according to documents posted by Common Cause, representatives from these and other energy groups will discuss potential legislation that would undermine clean energy standards and ...

Published: Monday 7 May 2012
“ALEC’s agenda includes crafting legislation that kills carbon pricing and renewable energy targets, turns over public lands, and prevents fracking disclosure laws, among other harmful laws.”

The American Legislative Exchange Council’s anti-environment agenda is fueled by none other than Big Oil companies, which sit on ALEC’s “task forces.”

The watchdog group Common Cause published ALEC’s full member list, revealing four of the five major oil companies behind the group’s anti-environment legislation. These four oil companies — Shell, BP, Chevron, and ExxonMobil — are also the four most profitable, taking a combined $30.6 billion profits in just three months this year.

Koch Industries, ubiquitous in funding right-wing causes, is also one of ALEC’s corporate members, while ConocoPhillips has its own history of funding the group.

ALEC’s agenda includes crafting legislation that kills carbon pricing and renewable energy targets, turns over public lands, and prevents fracking disclosure laws, among other harmful laws.

The latest chapter of Big Oil shaping local and state laws occurs later this week, where state legislators from 15 oil and gas states will meet with oil and gas companies presenting a fossil-fueled vision for the future.

Published: Monday 7 May 2012
“In the many instances in which these lawsuits have been successful, governments have been made to pay fines amounting to tens, sometimes hundreds of millions of dollars or euros.”

According to the most recent data released by the United Nations Conference on Trade and Development (UNCTAD), the number of lawsuits brought against governments by companies evoking clauses in bilateral investment treaties (BITs) was 450 at the end of 2011. 


These are only the known cases; most most are kept secret. 


In the many instances in which these lawsuits have been successful, governments have been made to pay fines amounting to tens, sometimes hundreds of millions of dollars or euros. 


The highly controversial BITs – which establish the conditions for investment by companies of one country in another state – have handed multinational corporations an arsenal of clauses with which to fight state regulations against harmful investment. 


In 2011, Argentina held the record of known cases (51), followed by Venezuela (25), Ecuador (23) and Mexico. Most of the claims against Argentina are related to the 2011 financial crisis and many to the privatization of water. In total, Buenos Aires has been fined more than one billion dollars by multinational corporations. 


Last year, Ecuador was forced to pay fines of 78 million dollars to the United States’ oil company Chevron, which claims that the country’s efforts to protect the Amazon from pollution have negatively affected business. 


This year, Argentina may face a new case, after the government moved to regain state control over the country’s biggest oil firm, which had been owned by the private Spanish oil company Repsol for many years. 


According ...

Published: Saturday 21 April 2012
“Evidence now implicates top BP executives as well as its partners Chevron and Exxon and the Bush Administration in the deadly cover-up—which included falsifying a report to the Securities Exchange Commission.”

Yesterday, Ecowatch.org revealed that, in September 2008, nearly two years before the Deepwater Horizon explosion in the Gulf of Mexico, another BP rig had blown out in the Caspian Sea— which BP concealed from U.S. regulators and Congress.

Had BP, Chevron, Exxon or the Bush State Department revealed the facts of the earlier blow-out, it is likely that the Deepwater Horizon disaster would have been prevented.

Days after the Deepwater Horizon blow-out, a message came in to our offices in New York from an industry insider floating on a ship in the Caspian Sea. He stated there had been a blow-out, just like the one in the Gulf, and BP had covered it up.

To confirm this shocking accusation, I flew with my team to the Islamic republic of Azerbaijan. Outside the capital, Baku, near the giant BP terminal, we found workers, though too frightened to give their names, who did confirm that they were evacuated from the BP offshore platform as it filled with explosive methane gas.

Before we could get them on camera, my crew and I were arrested and the witnesses disappeared.

Expelled from Azerbaijan, we still obtained the ultimate corroboration: a secret cable from the U.S. Embassy to the State Department in Washington laying out the whole story of the 2008 Caspian blow-out.

The source of the cable, classified “SECRET,” was a disaffected U.S. soldier, Private Bradley Manning who, through WikiLeaks.org, provided hot smoking guns to The Guardian.

The information found in the U.S. embassy cables is a block-buster. 

The cables confirmed what BP will not admit to this day: there was a serious blow-out and its cause was the same as in the Gulf disaster two years later—the cement (“mud”) used to cap the well had failed.

Bill Schrader, ...

Published: Friday 6 April 2012
“Everywhere, indigenous peoples are claiming their autonomy over their territories, which include the right to self-government and control of everything over, on, and in their lands.”

Accelerating commodification of water, oil, land, and nature over the past few decades has resulted in a global power play, wresting precious resources away from communities that have lived sustainably with them for centuries. Oil is one example where the domination of multinational companies has led to mass displacement, seeded social conflict, and fundamentally disrupted the relationship between indigenous communities and their environment.

Groups the worlds over are striving to defend an alternate understanding of the earth and how we should treat it, however. They view entities such as oil as part of the global commons -- the set of natural resources, basic services, public spaces, and cultural traditions that should be part of a public trust to be enjoyed by all -- rather than as commodities to be bought and sold. Another way to conceive of these assets is through the Spanish term for them: el bien común, the common good. Behind the commons is the fundamental idea that life, information, human relationships, popular culture, and the earth's riches are sacrosanct and not for sale.

Everywhere, indigenous peoples are claiming their autonomy over their territories, which include the right to self-government and control of everything over, on, and in their lands. At this moment, some 30,000 indigenous peoples from the Ecuadorian Amazon are embroiled in legal battles with Chevron for contaminating their water and destroying the health of entire villages. This past January, a broad-based coalition of U.S. and Canadian groups stalled the Keystone XL Pipeline project and are working to uphold this decision. And for decades, indigenous people everywhere have been defending their lands and the earth's resources in epic battles.

On top of this, communities are working to repair the divisions that corporate and governmental repression has ...

Published: Monday 2 April 2012
How the Big Energy Companies Plan to Turn the United States into a Third-World Petro-State.

The “curse” of oil wealth is a well-known phenomenon in Third World petro-states where millions of lives are wasted in poverty and the environment is ravaged, while tiny elites rake in the energy dollars and corruption rules the land.  Recently, North America has been repeatedly hailed as the planet’s twenty-first-century “new Saudi Arabia” for “tough energy” -- deep-sea oil, Canadian tar sands, and fracked oil and natural gas.  But here’s a question no one considers: Will the oil curse become as familiar on this continent in the wake of a new American energy rush as it is in Africa and elsewhere?  Will North America, that is, become not just the next boom continent for energy bonanzas, but a new energy Third World?

Once upon a time, the giant U.S. oil companies -- Chevron, Exxon, Mobil, and Texaco -- got their start in North America, launching an oil boom that lasted a century and made the U.S. the planet’s dominant energy producer.  But most of those companies have long since turned elsewhere for new sources of oil.

Eager to escape ever-stronger environmental restrictions and dying oil fields at home, the energy giants were naturally drawn to the economically and environmentally wide-open producing areas of the Middle East, Africa, and Latin America -- the Third World -- where oil deposits were plentiful, governments compliant, and environmental regulations few or nonexistent.

Here, then, is the energy surprise of the twenty-first century: ...

Published: Friday 2 March 2012
Higher gas prices mean that money is flowing out of Americans’ wallets and pocketbooks and straight into the coffers of Big Oil companies.

Oil prices, which averaged a near-record $103 per barrel in 2011, have risen steadily since the beginning of 2012. In tandem with oil prices, gasoline prices are also rising—from an average of $3.30 ending the week of January 2 to $3.59 last week. Higher gas prices mean that money is flowing out of Americans’ wallets and pocketbooks and straight into the coffers of Big Oil companies. This Center for American Progress analysis finds that each penny rise in the average quarterly (three months) price of a gallon of gas corresponds to a $200 million increase in quarterly profits of the big five oil companies—BP, Chevron, ConocoPhillips, ExxonMobil, and Royal Dutch Shell.

Since the beginning of the year, the price for gasoline increased 29 cents per gallon. If that average ...

Published: Tuesday 14 February 2012
“Oil and gas companies are raking in record profits and clearly do not need these tax breaks.”

President Barack Obama’s proposed budget for fiscal year 2013 sets a responsible course for rebuilding the economy so that it works for everyone, not just the privileged few. Our middle class is the engine of economic growth, but is threatened by dwindling public investments, a tax system increasingly rigged to benefit the wealthy, a fraying safety net, and assaults on what should be the bedrock guarantees of Medicare, Medicaid, and Social Security.

The president’s budget protects those guarantees, boosts critical investments, and takes steps toward rebalancing the tax code so that all pay their fair share. And it does this in a fiscally responsible way, charting a path that nurtures the economic recovery while reducing the federal deficit, all without asking the middle class to shoulder a disproportionate share of the burden.

President Obama’s proposed fiscal year 2013 budget would make taxes fairer by, among other things, eliminating $40 billion in tax breaks over 10 years for oil and gas companies. About one-fourth of the savings would be invested in domestic manufacturing, which would create jobs.

Oil and gas companies are raking in record profits and clearly do not need these tax breaks. The big five oil companies—BP, Chevron, ConocoPhillips, ExxonMobil, and Shell—made a combined profit of $137 billion in 2011. This beats their previous 21st century record of $136 billion (2011$) in 2008, and ExxonMobil, Chevron, and ConocoPhillips were the first, fourth, and 15th most profitable companies on the Fortune 100 List in 2011.

Despite these humongous earnings, however, the

Published: Wednesday 8 February 2012
“Why the Fossil Fuel Industry Fights So Hard”

If we could see the world with a particularly illuminating set of spectacles, one of its most prominent features at the moment would be a giant carbon bubble, whose bursting someday will make the housing bubble of 2007 look like a lark. As yet -- as we shall see -- it’s unfortunately largely invisible to us.

In compensation, though, we have some truly beautiful images made possible by new technology.  Last month, for instance, NASA updated the most iconic photograph in our civilization’s gallery: “Blue Marble,” originally taken from Apollo 17 in 1972. The spectacular new high-def image shows a picture of the Americas on January 4th, a good day for snapping photos because there weren’t many clouds.

It was also a good day because of the striking way it could demonstrate to us just how much the planet has changed in 40 years. As Jeff Masters, the web’s most widely read meteorologist, explains, “The U.S. and Canada are virtually snow-free and cloud-free, which is extremely rare for a January day. The lack of snow in the mountains of the Western U.S. is particularly unusual. I doubt one could find a January day this cloud-free with so little snow on the ground throughout the entire satellite ...

Published: Wednesday 28 September 2011
At this rate, Big Oil could easily exceed $100 billion in profits for 2011. Why can’t these companies afford to forgo $2 billion annually in taxpayers’ money?

 

On September 19 President Barack Obama announced his plan to reduce the deficit by $4 trillion over the next 12 years, including raising $1.5 trillion by closing special interest loopholes and other revenue raisers. This includes eliminating $41 billion in tax loopholes for the oil and gas industry (p. 63) over the next decade.

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