Big Oil

Oil Lobby Spending Less As Sympathetic Legislators, President Provide More Favors

Flanked by former Exxon executive, now Secretary of State Rex Tillerson, President Donald Trump speaks during a cabinet meeting., June 12, 2017. (AP/Andrew Harnik)
MINNEAPOLIS– The oil and gas industry has spent over $36 million lobbying Congress so far this year, a massive figure that speaks to the fossil fuel industry’s weight in Washington. Among the top spenders so far have been ExxonMobil, Chevron and Koch Industries, which have spent well over $3 million dollars apiece.

The Oil Siege Is Over, “The Cartel” Looks East

Vehicles pack a main road during rush hour in Beijing. China, which overtook the U.S. in late 2010 as the world’s largest oil importer, has the single biggest influence on global demand for fuels. (AP Photo/Alexander F. Yuan)
(Analysis) — Oil prices are back up and rising. The low oil spell that started in 2014 has concluded. This sudden rally, like its sudden decline, is not accidental.  The new situation has definite implications for the ongoing international tension.