. . UNITED STATES: POLITICS: POLITICAL PARTIES: REPUBLICAN PARTY, TEA PARTY : INDUSTRIES: PETROLEUM INDUSTRY : POLITICS : POLITICS: PRESSURE GROUPS: Is Big Oil backing Romney? . . Is Big Oil backing Romney? Is Big Oil backing Romney? Pro-Obama ad makes slippery claim about GOP candidate Posted Apr 28, 2012, 1:31 pm D'Angelo Gore Factcheck.org Tuscon Sentinelhttp://www.tucsonsentinel.com/nationworld/report/ 042812_romney_big_oil/is-big-oil-backing-romney/
. A shorter URL for the above link: . http://tinyurl.com/876fg2g . .A pro-Obama TV ad says that "big oil" pledged $200 million to help Mitt Romney, making him the industry's "$200 million man." But that's a pretty slippery claim. The fact is that there is no evidence that truly big oil companies like BP, Exxon Mobil Corp. and Chevron Corp. are behind the money in question. Rather, it's a funding goal of the Koch brothers, the libertarian billionaires whose diversified corporation has fingers in lumber, commodity trading, ranching, fertilizers, pollution control and coal, besides interests in pipelines and oil refining.
.The ad's claim is based on a news story that said the Koch brothers plan to direct $200 million or more to conservative groups this fall. But the oil interests of Koch Industries are tiny in comparison to those of the better known multinationals that dominate the industry, which also include Royal Dutch Shell, ConocoPhillips and the French-based Total.
.This latest ad attempting to link Romney to the oil and gas industry is a joint collaboration between the League of Conservation Voters Victory Fund and Priorities USA Action, the super PAC supporting President Barack Obama. The groups are spending $1 million to air the ad in Colorado and Nevada.
.The ad claims that "big oil's pledged 200 million to help Mitt Romney," and that, in return, Romney has "pledged to protect their profits and billions in special tax breaks."
.It's true that Romney has said that he does not favor raising taxes on oil companies. At a town hall meeting in Wilmington, Del., on April 10, Romney said that "I don't want to raise taxes on oil companies." And Romney has also referred to the president's proposals to eliminate oil and gas tax loopholes as "government by gimmick," saying that those policies would not lower gasoline prices or increase domestic oil production.
. But has "big oil" actually "pledged" to support Romney with $200 million? .What is true is that David and Charles Koch, the billionaire brothers behind Koch Industries, are planning to "steer more than $200 million potentially much more to conservative groups ahead of Election Day," according to a Politico report from last November. But while Koch Industries does have considerable oil interests, it is hardly in the league of the truly "big oil" companies.
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