Spending by oil and gas companies lobbying politicians on Capitol Hill jumped a whopping 64% between 2007 and 2008.
The oil and gas sector paid out a total of $128.6 million in 2008, compared to only $82 million in 2007. According to research I've compiled using OpenSecrets.org's database, this is an unprecedented rise in US lobbyist expenditures by the oil and gas sector.
In terms of lobbyist expenditures, the top 5 companies accounted for $72.6 million of this spending in 2008. In the year previous the top 5 spent only $38.76 million - a 53% increase in spending in a single year.
Here's a breakdown of the lobbying expenditures by top 5 oil and gas companies:
1. ExxonMobil (NYSE: XOM) - spent $29 million in 2008, up from $16.9 milion in 2007.
2. Koch Industries Inc. - spent $15 million in 2008, up from $4.3 million in 2007
(If you've never heard of Koch Industries Inc., you can check out a profile on the company that I've compiled here: Koch Industries Inc.)
3. BP America (NYSE: BP) - spent $10.45 million in 2008, up from $4.6 million in 2007
4. Chevron Corporation (NYSE: CVX) - spent $9.8 million in 2008, up from $8.9 million in 2007
5. Conoco Phillips (NYSE: COP) - spent $8.4 million in 2008, up from $4 million in 2007
One Washington, DC insider I talked to says this unprecedented rise in lobbying activity is due the oil and gas industry feeling that they're in an "end game" with Congress considering a nationwide cap and trade policy and President Barack Obama turning his attention to alternative energy policies:
"This is an endgame for an industry that has fought tooth and nail for the better part of decade to ward off federal climate change and renewable energy policy. They're backed in the corner and there are lobbyists totally infesting the backrooms on Capitol Hill at the moment. This is an unbelievably powerful lobby and they're going all out."
In late February of this year the Center for Public Integrity released a report finding that:
"Senate lobbying disclosure forms shows that more than 770 companies and interest groups hired an estimated 2,340 lobbyists to influence federal policy on climate change in the past year, as the issue gathered momentum and came to a vote on Capitol Hill. That's an increase of more than 300 percent in the number of lobbyists on climate change in just five years, and means that Washington can now boast more than four climate lobbyists for every member of Congress."