Gordon Smith: I Care About Gas Prices (In an Election Year)

Smith Took $276,000 from Big Oil, Protected Their Record Profits… Until Now

A dramatic oil spill in Washington D.C. has caused Gordon Smith to slip and flip his position on tax giveaways for oil companies. This year’s election had nothing to do with it.

Over his career Smith has taken $276,825 in campaign contributions from the oil and gas industry. [Center for Responsive Politics] While oil companies have reported record profits for the last ten quarters and gas prices have spiked to an all time high, Smith has taken big oil money and protected big oil giveaways.

Over the weekend The Bend Bulletin reported that after twelve years protecting taxpayer giveaways to big oil campaign contributors, Gordon Smith is shifting his ground. Perhaps he is looking for common ground. Perhaps he is just pandering.

Smith prefers to end some oil company tax incentives to make up for revenue that would be lost during a gas-tax suspension, [Smith spokeswoman Lindsay ] Gilbride said. (5/10/08)

Since coming to Congress, Smith has voted at least seven times to protect billions of dollars in tax breaks and subsidies for oil companies already reaping record profits.

Smith’s votes included a vote last year that would have gutted a provision of the energy bill that rolled back oil and gas tax breaks in favor of renewable fuels. In 2006, Smith voted to provide $5 billion in tax breaks and subsidies for the oil and gas industry and in 2005 Smith voted for a bill that contained $9 billion in tax breaks and subsidies. Smith also twice voted against imposing a windfall profits tax on the sale of crude oil above $40 a barrel. Smith even voted for the 2003 energy bill which contained $11.9 billion in tax breaks to the oil and gas industry. [Vote 222, 6/21/07; Senate Finance Committee Markup, 6/19/07; Dow Jones, 6/19/07; AP, 6/19/07; Vote 118, 5/11/06;Vote 331, 11/17/05; Vote 341, 11/17/05; Vote 213, 7/29/05; Houston Chronicle, 11/17/05; Las Vegas Review-Journal, 11/18/05; Environment and Energy Daily¸ 11/18/05; Vote 456, 11/21/03]

“Which really concerns Gordon Smith more: the fact that oil costs could rise to nearly $180 a barrel or the fact that he's less than 180 days away from losing his reelection?” said House Speaker Jeff Merkley. “Oil companies have been reporting record profits for years, but only in an election year does Gordon Smith pretend to care. For twelve years, Smith has been in the pocket of big oil and Oregon families have paid the price. I have a plan to end the billion dollar bailouts for big oil companies, provide immediate relief, and end our dependence on foreign oil.”

In the U.S. Senate, Merkley will fight for:

- A wind fall profits tax to recoup some of the ridiculous profits the oil companies have made under Bush and Smith;

- A “reliefbate” proposal to provide direct, immediate relief to families in the short-term;
New regulations for the energy future markets to address rising costs over the long-term; and

- A major new investment in renewable energy to relieve our dependence on foreign oil – protecting our environment, strengthening our national security, and creating quality jobs.

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Posted May 12, 2008
Press