Campaign 2010

Jun 19, 2008

CHRIS HACKETT MAKES MONEY OFF HIGH GAS PRICES, PENNSYLVANIA FAMILIES PAY AT THE PUMP

Candidate has personally made up to $115,000 off record high gas prices

 

While Pennsylvania families struggle to afford skyrocketing gas prices, Chris Hackett is deep in the pocket of Big Oil and according to his personal financial disclosure, Hackett is making tens of thousands of dollars off of Big Oils' billion dollar profits. 

 

"Chris Hackett is so deep in the pocket of Big Oil that he must see record high gas prices as just another way to help his oil executive buddies," said Carrie James, regional press secretary at the Democratic Congressional Campaign Committee.  "Pennsylvanians are paying $1.14 more per gallon than they were last year and are struggling to make ends meet yet Chris Hackett's solution is to cozy up next to Big Oil in hopes that they will funnel cash into his campaign coffers.  Clearly easing the burden on middle class families is low on Chris Hackett's agenda; falling after Pat Toomey's radical Club for Growth agenda and now after Big Oil."

 

 

CHRIS HACKETT - IN THE POCKET OF BIG OIL

  • Average Cost of Gas in PA is $4.07. According to the AAA, Pennsylvanians are paying an average of $4.07 at the pump. [http://www.fuelgaugereport.com/sbsavg.asp]
  • Hackett Took Nearly $8,000 from Oil and Gas Industry, Including Contribution from Exxon Mobil VP. According to his campaign finance reports, Chris Hackett has taken $7,800 from the oil and gas industry - including $1,000 from a Vice President at Exxon Mobil. [Political Moneyline, Campaign Finance Data, Accessed: 5/7/08]

 

HACKETT'S CONTRIBUTIONS FROM BIG OIL & GAS

NAME

CITY

STATE

ZIP

OCCUPATION

DATE

AMOUNT

Society Of Independent Gasoline Marketers Of America PAC

3/25/2008

$2,500

Nelson, Dan

Harveys Lake

PA

18618

Exxon Mobil/Vice President

9/29/2007

$1,000

Arnold, John

Mechanicsburg

PA

17055

Petroleum Products Corporation/Busi

11/26/2007

$2,300

Shipley III, William

York

PA

17403

Shipley Energy/CEO

1/4/2008

$2,000

TOTAL: 7,800

                                                 Source: Political Moneyline, Campaign Finance Data, Accessed: 5/7/08

 

  • Hackett Owns Between $31,000 and $115,000 in Exxon Mobil, Conoco Philips and Chevron. According to his personal financial disclosure form which covers the period of January 1, 2006 - December 21, 2007, Hackett has investments between $31,000 and $115,000 in ExxonMobil, Conoco Phillips and Chevron. [Hackett Personal financial disclosure, 1/1/06-12/21/07; Accessed: 5/7/09]

 

HACKETT'S BIG OIL & GAS INVESTMENTS

ASSETS & UNEARNED INCOME

VALUE OF ASSET

ExxonMobil

$15,001-$50,000

Conoco Phillips

$1,001-$15,000

Chevron

$15,001-$50,000

TOTAL: $31,003-$115,000

Source: Hackett Personal financial disclosure, Period Covered: 1/1/06-12/21/07; Accessed: 5/7/08

                                                                            

  • Oil Companies Enjoy Record Profits.
    • Exxon Mobil 1st Quarter Profits Increased 17% Setting a Company Record. Exxon's first quarter profits for 2008 was $10.9 billion or 17% - a first quarter record for the company and the second highest in the companies' history. [US News and World Report, 5/1/08; Associated Press, 5/1/08]
    • ConocoPhillips 1st Quarter Profits Increased 16%. Conoco Phillips first quarter profits for 2008 increased 16% for a total of 4.14 billion far outpacing industry expectations. [Associated Press, 5/1/08]
    • Chevron Corp. 1st Quarter Profits Increased 9.6%. Chevron's first quarter profits for 2008 increased by 9.6% for a net income total of $5.17 billion - beating analysts mean estimates by $219 billion. [Wall Street Journal, 5/3/08]

 

     


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