Local
MoveOn.org members deliver report on McCain’s oil company handouts and what Connecticut's $890 million could do for energy independence
By Press Release
Aug 15, 2008 - 4:07:40 PM

On Tuesday, MoveOn.org members in Stamford will deliver a new report at the Main Library on Broad and Bedford Streets, showing just how much money John McCain is proposing to give to oil companies in tax breaks and subsidies. Connecticut’s portion of that money would come to $890 MILLION that instead could go toward clean and affordable energy and the jobs that go with it here at home.

This event is one of the 130 Rallies for Clean Energy held around the country to draw attention to John McCain’s plans for an additional $39 billion in oil company tax loopholes and subsidies, which would come as oil companies have been reporting record high profits. The report details the opportunity cost of spending that money on corporate handouts instead of on building a clean energy future for Connecticut. The report was produced by the Center for American Progress.

“We find it appalling that John McCain is proposing to give $39 billion in tax payer dollars to oil companies when they are already raking in $150 billion in profits,” said Terry Masters, a MoveOn.org member from Stratford. “This Big Oil Energy Plan shows just whose side John McCain is on. With $890,000,000 in Connecticut, we could make real progress toward ending our dependence on oil and creating new energy jobs.” These Rallies for Clean Energy are part of a larger MoveOn.org campaign aimed at John McCain for putting Big Oil profits over the interests of most Americans in his energy policy.

The report comes in the midst of McCain’s continued push for offshore drilling, which numerous experts have found won’t do anything to help lower gas prices but will increase oil company profits. In recent weeks, MoveOn has held events highlighting McCain’s decision to switch a position he has held on drilling for at least 8 years just as energy industry executives held a series of fundraisers for him in Texas netting him over $800,000 for his campaign. In addition, almost 30 of Senator McCain’s campaign advisors and fundraisers have been identified as having lobbied for oil and gas interests.

MoveOn.org Political Action is a political action committee powered by 3.2 million progressive Americans. It believes in the power of small donors and grassroots action to elect progressive leaders to office and to advance a progressive agenda. It does not accept any donations over $5,000, and the average donation to MoveOn.org Political Action is under $100.

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