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Union Members Demand Gas Price Relief as Big Oil CEO Profits Skyrocket |
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With gas prices hitting record levels, AFL-CIO union members around the country continue to protest at gas stations this week, demanding answers to their economic woes. Wages are stagnant, unemployment is rising, gas prices are climbing—and the oil companies’ profits are as strong as ever. A report released today shows executive compensation for the CEOs of the 12 largest U.S. oil outfits rose by 5.8 percent from 2006 to 2007, from a median of $14.6 million to a median of $15.4 million.
Will Sen. John McCain, the presumptive Republican nominee for president, listen to working families and propose policies that would restore some balance? Or will he act on behalf of the multimillion-dollar CEOs? That’s what union members want to know.
In Bangor, Maine, this morning, the Eastern Maine Labor Council led a rally where union members talked about how they and their families have been affected by oil prices. Maine businesses are feeling the squeeze and unemployed people can’t afford the gas to drive to job interviews.
Ohio union members turned out around the state to protest gas prices. In Columbus, 75 union members took to the streets, and 50 more turned out in Cincinnati. Nearly 20 more protested at a gas station in Marietta, as part of a rally organized by the Southeastern Ohio AFL-CIO Council. Union members also turned out in Sandusky, Ohio.
In Duluth, Minn., the Northeast Minnesota Area Labor Council brought out 35 protestors who asked for answers on what McCain would do to help families struggling with gas prices and whether he would continue the Bush program of big tax breaks for Big Oil.
In New Jersey, the Burlington County Central Labor Union held a rally outside a McCain event on Friday, letting attendees know about McCain’s record on oil and gas and demanding answers to the economic crunch.
In Portland and Springfield, Ore., union members came out early in the morning to gas stations and received supportive honks and thumbs-up from rush-hour drivers for drawing attention to rising gas prices.
Union members also held events in North Carolina and New Hampshire in recent days.
Who is McCain listening to on these issues? Campaign Money Watch notes that McCain has taken more than $1 million in contributions from the oil industry, and 22 of his top funders and advisers have lobbied for the oil industry. His top political adviser, Charlie Black, has lobbied for Chinese and Russian oil interests. Another top McCain adviser, former Sen. Phil Gramm, authored legislation that allowed energy companies to drive up prices through speculation.
And so far, McCain has proposed a plan that would give nearly $4 billion in tax cuts to the top 10 oil companies. Is this the solution to the crisis we’re facing?
Union members across the country will make sure McCain knows where they stand on gas prices and the economy. He needs to look out for working families, not the oil industry lobbyists he’s surrounded by.
3 Comments
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It sucks when somebody is making 15 mil a year and we aren’t. I don’t like paying the high price at the pump but it is both sides of the isle that have put us in this position. Who put a stop to all the offshore drilling and other oil exploration back in 1981? It was our government! Our elected officials are their own special interest group and we can’t join the club.
McCain wants to drill for oil and Obama doesn’t. Obama likes the high price of gas right now he just wishes there was more of a gradual adjustment. When will this madness end? There is no quick fix for the mess we are in. I’m just glad I’m voting for Bob Barr, someday enough people will wake up and realize that we need a strong 3rd party in our political system.
I was inspired and informed by your last article on gas prices to send in the letter below to the Seattle Times, that printed it:
I postponed filling my tank until after Memorial Day weekend in hopes the cost would drop. No such luck. I just paid $4.25 a gallon! I’m also having to heat my home in June. When will the Washington Legislature enact a cap on the prices of gasoline and heating fuel? They can do it! Make the wealthy, fat-cat energy companies suffer from the higher costs, not working people. Last year alone, ExxonMobil made $40 billion in profits –the larggest single-year profit ever made by a U.S. company.
As our gas prices rose in the past eight years from $1.47 a gallon to the present public gouging, the top five oil companies made $525 billion in profits and big-oil executives are raking it in.
While all this is going on, working families are struggling with stagnant wages, soaring health-care costs, home foreclosures and disappearing jobs. Even $2 or $3 a gallon looks good from here.
Gov. Christine Gregoire could roll back the price and keep it capped during this economic emergency.
Henry Noble, Seattle
One of the main factors in this oil price fiasco is the value of the US dollar. Valued in dollars oil has increased in the range of 325%. If you price oil in euros the increase has only been 97% for the same period. Europe has not seen the same increases in energy costs. The Federal Reserve can take credit for that, there is a down side to low interest rates and printing more money. These guys aren’t even part of the government and they are screwing things up.
Was it Carter or Nixon that did the wage and price freeze thing? It didn’t work, our economy is based on consumerism. A free market of supply and demand. Because our society is so successful other countries want to be just like us so there is more competition for oil.
Next thing you know there is going to be a worldwide shortage of storage facilities because everybody in the world with a garage is going to need more space because they bought so much stuff.
It could be the perfect storm. We have so many toys we need more space, but the cost of gas is so high we cant play with our toys. Then the cost of storage goes up because of demand so now we have to keep more stuff at home. Where are we going to park the cars? The HOA is fining us for parking the RV and the boat in the driveway. Are the fines cheaper that storage? Nobody wants to buy these toys because they cant afford the gas or storage ether.
Man…… I need to stop thinking about this stuff and pick up a 6 pack on the way home from work.