December 18, 2007

If money talks in Washington, industry only pays for a whisper

With all the talk about the political power of agribusiness, and in particular Archer Daniels Midland (ADM), it is nice to see an article that compares the political contributions of the biofuels industry with that of the oil industry.

Biofuel political action committees and industry leaders haven't showered money on key members in Congress in 2007, and they've given even less to the field of presidential candidates, a Des Moines Register analysis of federal campaign finance data shows.

Eleven PACs promote biofuel companies, associations or major corn and soybean grower groups, but only about half made donations to congressional candidates in the first 10 months of this year, totaling close to $20,000. Adding the PAC for Archer Daniels Midland - which is a large biofuels producer, although fuel is not its main business - adds another $18,000.

In contrast, the oil and gas industry, which has six dozen PACs, donated $2 million in 2007, according to federal records in mid-October.

The report goes into great detail about the political lobbying efforts of both groups.

Full Report

No comments:

Post a Comment