President Bush and Republicans in Washington side with Big Oil while we pay $4 a gallon – we need real change now

June 20, 2008

FANWOOD – Highlighting yet again the misplaced priorities and failed policies of the Bush Administration, it was revealed yesterday that the same Big Oil companies getting billions of dollars in tax breaks while American families pay over $4 per gallon will now rake in more profits through new no-bid contracts in Iraq [New York Times, 6/19/08].

ExxonMobil, Shell, Total, BP, and Chevron were awarded the no-bid contracts over bids from more than 40 other companies throughout the world. American officials still play prominent roles in Iraq’s oil ministry, who awarded the one to two year contracts, which will position these same companies to reap huge profits when longer-term contracts are awarded.

“Yesterday, we learned the Bush Administration has succeeded further in engineering sweetheart deals for its friends in Big Oil, securing new no bid contracts for them in Iraq,” said Linda Stender, candidate for Congress in New Jersey’s 7th District. “New Jersey families are struggling to afford skyrocketing gas prices, and Big Oil companies are benefiting from tax breaks and reporting record profits. The Bush Administration led us into a war with Iraq without a plan to win the peace or an exit strategy for our brave troops.”

“The Bush Administration and Republicans in Washington are out of touch with the struggles facing New Jersey families. I call on my opponent to join me in denouncing no bid contracts in Iraq that pad the pockets of the Administration’s friends in Big Oil. In Washington, I’ll help lead our country in a new direction, away from the failed policies and misplaced priorities of the last seven years. Instead of more of the same, we must invest in renewable energy sources to bring down gas prices and end our dangerous dependence on foreign oil.”

Background information:

In the first three months of 2008, Exxon Mobil reported $10.89 billion in profits. [CNNMoney.com, 5/1/08]

The average American will pay $4.07 for a gallon of gas today. [AAA, accessed 6/19/08]

New Jersey families are paying an average of $3.99 per gallon today. [AAA, accessed 6/19/08]

Five years ago, gas prices in our country averaged $1.50 per gallon. [gasbuddy.com, accessed 6/19/08]

The price of a gallon of gas has increased almost 30 cents just in the past month, jumping from the already-high $3.80 to $4.07 [AAA, accessed 6/19/08]