Nearly $200 million spent on energy ads since Obama’s inauguration
Cross-posted from Wonk Room.
Politico reports that interest groups and corporations have spent nearly $200 million on TV ads since President Obama’s inauguration to manipulate American energy policy reform. According to an analysis by the Campaign Media Analysis Group, $199.5 million was directed from January 20th to March 31st to television issue ads on energy, the environment, and climate. $54.5 million of the ads were about oil and gas alone:
According to CMAG’s analysis, between Obama’s January 20 Inauguration and the end of March, most TV ad spending was directed toward energy and the environment, which saw $115.1 million worth of ads. The next biggest targets were gas and oil issues, which were the subject of $54.5 million in ad buys, followed by labor, stimulus and budget-related issues ($41.9 million), climate change ($29.9 million), and health care ($27.5 million).
Why is corporate America on track to spend $1 billion this year on a television barrage about energy policy?
President Obama’s clean energy agenda, like his proposals for health care and labor reform, threatens the corrupt business model of the corporate right. Closing the carbon loophole with a cap-and-trade system will create a strong, healthy foundation for our national recovery — but pollution will no longer be free for ExxonMobil, Koch Industries, and Peabody Coal. So they are trying to either block reform entirely, or — for those corporations that recognize the necessity of action — to ensure that their pollution is subsidized by the American taxpayer, through pollution permit giveaways or other handouts.