Big Oil’s Big Investment in Steve Pearce

Pearce Has Taken Over $590,000 From the Oil and Gas Industry Over His Career.   Since coming to Congress Steve Pearce has taken $596,324 from the oil and gas industry. 

Pearce Twice Supported $5 Billion in Tax Benefits for Big-Oil. Tax loopholes that save the oil industry $5 billion were removed from the original Senate version of the $70 billion GOP tax bill in 2006 but under pressure Congressional negotiators put them back in the final bill.  The $5 billion for big-oil could have been used instead to partially offset an increase in middle class taxes. Not only did Pearce vote for the final tax bill with the big-oil tax breaks, but he also voted against a Democratic motion to repeal the big-oil tax breaks. [Republican Policy Committee, 2/7/06; Washington Post, 4/26/06; Joint Tax Committee, 5/9/06; Vote 135, 5/10/06; Vote 109, 4/27/06, USA Today, 4/27/06]

Big Oil’s investment in Steve Pearce has paid off…but not for you.

Oil Company Profits Since Steve Pearce Took Office

 

Gas Prices Since Steve Pearce Took Office

Since Steve Pearce took office, gas prices have risen from $1.48 to $3.90 per gallon while oil companies have earned over half a trillion dollars in profits.  Which is why there’s no explaining why Steve Pearce said, “At a time when we're facing $4 gasoline, I think that you need people who've been in the energy industry to tell us what to do.” 

Pearce’s salary may be paid for by the people of New Mexico, but he’s Bought by Big Oil.