Democracy for New Mexico

Sunshine is Free, Unless Exxon Buys the Sun

Hear what Vermont Senator Bernard Sanders (I) says about concentrated solar power's potential to reverse global climate warming. He told Correspondent Mark Bralley, after a Senate Hearing in Albuquerque, he believes solar power will help America break its dependence on fossil fuels and foreign oil.  Listen to Bralley's interview with Sen. Sanders and Senate Energy Chairman Jeff Bingaman on "What's the Word?" blog here. Hear some hopeful news ...

"Pearce Wrong 4 NM" Hybrid Competes in Street Race Tonight

The thrills just keep on coming in New Mexico's U.S. Senate race:

The Defenders of Wildlife Action Fund
Cordially Invites You to Witness as

The “Steve Pearce: Wrong 4 New Mexico Hybrid Car” Drives the Debate on High Gas Prices by Lining Up Against Albuquerque’s Best in a Race to the Finish



Featuring conversations with the crowd about their feelings on the high cost of gas and what they think of Rep. Steve Pearce and Rep. Tom Udall

When:  Thursday, July 3, 6:00 PM
Where: Albuquerque Dragway, 5700 Bobby Foster Rd. SE
What:  The “Steve Pearce: Wrong 4 New Mexico Hybrid” Will be Entering the Street Race Session to Prove that You Don’t Need High Gas Prices for High Speed Action

Enter to Win
See our previous post about the Action Fund's Prius hybrid, Steve Pearce's abysmal record on energy and how you can enter the drawing to win it.

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Today: Defenders of Wildlife Fund Launches Hybrid Car Giveaway

The Defenders of Wildlife Action Fund announced today that it will be giving away a 2008 hybrid car, to highlight Steve Pearce’s consistent and repeated votes against increased fuel mileage standards that could save New Mexican families $1,500 a year and reduce the impact of global warming.

See the Hybrid
The hybrid giveaway launch will take place today, Tuesday, July 1, at 12:30 PM, at the parking lot on Central Ave and 2nd SW, in downtown Albuquerque. Come on down, see the unveiling of the hybrid car and learn more about energy issues.

“We have decided to give away a free hybrid car to show our commitment to raising awareness for energy conservation,” Defenders Action Fund President Rodger Schlickeisen said. “With global warming, gas prices through the roof, and our unfortunate engagement in Iraq, energy conservation is an important issue for the environment, the American consumer, and for our national security.  This should not be a partisan concern, it is an American concern.” 

“Steve Pearce has accepted over $500,000 from the oil and gas industry, supported giving the industry billions in tax cuts, and consistently opposed any increase in fuel efficiency standards,” Defenders Campaign Manager Ed Yoon stated. “With New Mexicans paying $4 for a gallon of gas, we can no longer accept politicians who look out for the interests of big oil rather than those of the average citizen.  Steve Pearce is simply wrong for New Mexico.”

By driving a hybrid car, the average New Mexican would save $1,400 each year on gas alone, according to the Action Fund. If 92 people each drove a hybrid in New Mexico for one year, it would take $127,360 out of the pockets of the oil and gas industry, offsetting the average election cycle contributions made by the industry to influence Rep. Pearce’s positions. In fact, Rep. Pearce has received an average of $7.27 per hour from the oil and gas industry since taking office, 77 cents more than the hourly minimum wage in New Mexico. 

How to Enter the Drawing
The giveaway is open only to legal residents of the state of New Mexico who are at least 18 years of age at the time of entry and have a valid New Mexico driver’s license. To sign up or for more information, simply visit our website at www.Wrong4NM.org.  No strings attached, the winner will be selected with a random draw in early November, 2008.

The Action Fund, which is known for its innovative and strategic campaign style, is supporting Rep. Tom Udall for United States Senate, as well as Martin Heinrich for U.S. Congress. In addition to its field operation, which knocked on over 25,000 doors during the month of May alone, the Action Fund has already run three television and two radio ads in New Mexico.

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(Updated) Monday: Join Protests of Pearce Policies at the Pump

UPDATE: Bryan Barash over at the Tom Udall blog was at two of this morning's protests and has feedback and photos. Check it out and also learn about the Udall campaign's new text messaging service, TextMyTom.
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From the Democratic Party of New Mexico: On Monday, locals will protest Steve Pearce's choice to support Big Oil, while New Mexicans suffer at the pumps.

WHAT: Pearce = Pain at the Pump protest
WHO: Outraged Consumers
WHEN: Monday, June 30, 2008 at 10:00 AM
WHERE: Albuquerque, Clovis and Las Cruces, NM

• Albuquerque: Phillips 66, 4th and Montano; Diamond Shamrock, 2550 Central SE; Diamond Shamrock, 3440 Isleta Boulevard SW
• Clovis: Town & Country #248, 3412 North Prince
• Las Cruces: Brewer Oil Co Inc. Shell Self-Serve, 2512 E Lohman Ave.

"Pearce has repeatedly voted against measures that would help lower gas prices. New Mexicans deserve leaders that will fight for lower gas prices and not for Big Oil's record profits," Josh Geise, Executive Director of the Democratic Party of New Mexico.

Pearce has opposed legislation that would:

• Make price gouging by Big Oil a crime
• Take away $14 billion dollar tax breaks from Big Oil
• Increase fuel efficiency standards to get more miles per gallon
• Require utilities to produce 15% of electricity through renewable energy like wind or solar energy

More Criticism of Pearce
Americans United for Change also issued a statement criticizing Steve Pearce on his energy stance, including his vote last week against legislation that aimed to lower gas prices and end profiteering by Big Oil barons and energy speculators.

“It’s almost unfathomable that at a time when his constituents are having to choose between putting gas in their cars or food on their tables that Rep. Pearce would block common-sense legislation that would provide tangible relief and lead the way to a cleaner, more secure energy future,” said Caren Benjamin, deputy executive director of Americans United for Change, the progressive issue-advocacy group behind this summer’s Bush Legacy Tour.  (The Tour will stop in Albuquerque in August, on its way to the Dem Convention in Denver.)

“This is just another – particularly egregious – example of how some members of Congress are putting loyalty to their corporate sponsors and to President Bush’s conservative corporate-driven agenda above the needs of the people they were elected to represent,” Benjamin added.

In lock-step with President Bush and presumptive Republican presidential nominee Sen. John McCain (R-Ariz.), Rep. Pearce voted against the “Use It or Lose It” bill, which would compel the oil industry to start drilling on the 68 million acres which they are currently warehousing or be barred from obtaining any more federal drilling leases until they demonstrate that they are diligently developing those lands.   

“Clearly, Rep. Pearce is out of touch with the needs of the people of New Mexico,” Benjamin said. “He must be held accountable.”

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Richardson Gives Dem Radio Address; Praises Obama on Energy Plan

Gov. Bill Richardson delivered the Democratic radio address this week, and praised Sen. Barack Obama for his ability to bring change to Washington and help American families struggling with the high cost of energy. Richardson, who served as Energy Secretary in the Clinton administration, applauded Obama for his dedication to ending the country’s dependence on foreign oil and his commitment to investing in alternative energy sources.

Richardson also stressed that that John McCain’s support for expanded offshore drilling will do nothing to help struggling families and a faltering economy. He says McCain offers gimmicks and quick fixes instead of substantive, long-term solutions to our energy and climate woes.

The transcript of the radio address is below. To listen to the address, click here (mp3).

Transcript of Radio Address:

Good morning. I’m Bill Richardson, Governor of New Mexico.

Across this country Americans are hurting – struggling to cope with the soaring cost of gas and groceries. And they know that Washington hasn’t done enough to bring prices down or to end our dependence on foreign oil. And they certainly know that we haven’t done enough to help struggling families in the short term.

A failure of leadership has gotten us into this situation and only real, honest leadership can get us out. When times are tough it’s easy to go with what seems like a quick fix. But in government, just like in our personal lives, quick fixes are gimmicks that often just make things worse.

John McCain is offering gimmicks that on the surface may sound good; but, in reality will cost us jobs and won’t help families. And they certainly won’t reduce our addiction to imported oil. Senator McCain’s gimmicks – a gas tax holiday that will save consumers at most a gas tax holiday that will save consumers—at most—thirty cents a day for three months, and offering a prize for inventing a car battery - are not answers. As former Secretary of Energy, I know they won’t work.

Barack Obama is proposing real solutions that will provide immediate relief to Americans and build a new energy economy for the future. Senator Obama will push for a second stimulus package that will send out another round of rebate checks to the American people.  He’ll tax the record profits of oil companies and use the money to help struggling families pay their energy bills. He’ll provide a $1,000 tax cut that will go to 95 percent of all workers and their families in this country.  And he’ll close the loophole that allows corporations like Enron to engage in unregulated speculation that ends up artificially driving up the price of oil.

Obama will also raise the fuel standards in our cars and trucks and provide financial help to our automakers and autoworkers to help them make this transition.  He’ll invest $150 billion over the next ten years in alternative sources of energy like wind power, and solar power, and advanced biofuels, creating up to five million new jobs.

President Bush and Senator McCain want to open our pristine wilderness lands and shorelines to unrestricted drilling.  That is beyond irresponsible- it is dangerous and unnecessary. And will do nothing to provide immediate relief for families struggling with the high cost of gas. We’re not against responsible drilling. We believe the oil companies should drill on some of the millions of acres of land they already have but aren’t using, instead of snapping up new land and putting our natural resources at risk. We’re against irresponsible drilling. And the truth is we have just less than 2% of the world’s oil reserves but 25% of the demand.  We can’t simply drill our way out of this energy crisis.

Barack Obama is offering a serious national commitment to transition our economy from our dependence on oil to clean, affordable sources of energy. He’ll make it a priority to finally reduce our dependence on foreign oil. And instead of giving out tax breaks to the oil companies, he’ll put tax breaks in the pockets of the middle class Americans who are the true engine of our economy.

As we prepare to celebrate our nation’s independence, let us all join with Senator Obama in a commitment to declare our independence from imported oil.  Barack’s plan to build a new energy future and a stronger middle class is not a partisan issue- It’s an American issue. It’s the right thing to do.

This Fourth of July, please keep our men and women serving in uniform in your prayers and in your hearts.  God Bless You, and God Bless America.

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Tom Udall Votes Against NM National Lab Cuts

Rep. Tom Uall (NM-03) was the sole nay vote yesterday against a House Appropriations Subcommittee on Energy and Water FY09 budget proposal that includes spending cuts related to nuclear weapons for New Mexico's two national labs.

Provisions in the bill would reportedly eliminate about $145.3 million in funding for a billion dollar plutonium pit production program at Los Alamos National Labs and effectively shut down the so-called Reliable Replacement Warhead project. It also cuts about $100 million in construction funds -- mostly for LANL's Chemistry and Metallurgy Research Replacement (CMRR) project, which is already being built. The new CMMR building is designed to replace several aging strucures involved in nuclear materials research. The measure would also reduce spending related to nuclear weapons at Sandia National Labs in Albuquerque.

Udall released a statement explaining his vote and stressing that he believes the labs need to look to the future and expand their mission beyond a Cold War focus. Excerpt:

“For more than a year, I have worked extensively with our labs to encourage growth in new areas of research as a way to ensure their long-term viability and to move towards the future. In addition to their indispensible role maintaining our essential nuclear arsenal, I believe the labs’ work should grow in the areas of nuclear nonproliferation, homeland security, counterterrorism, intelligence analysis and expanded energy research. We also must provide adequate funding for the cleanup of hazardous legacy waste from the labs.

“By collaborating with the lab leadership and the NNSA, I believe my goals of diversifying the labs and growing them in new areas are beginning to be realized. But there are still obstacles in our path.

Talk about being between a rock and a hard place. Udall must balance what he clearly understands is necessary to ensure a future for the labs with protecting New Mexico jobs while the labs transition to a 21st century mission quite distinct from its now obsolete Cold War focus. He frames his vote against the cuts against this background:

“Today, the House Energy and Water Subcommittee’s Appropriations proposal was brought before the full committee for a vote. And although this legislation contains many good provisions, it does not provide a path to the future for our national laboratories, and I could not support it. This bill not only cuts critical programs that are essential to the strength of our labs and the security of our nation, it rescinds funding that LANL and Sandia have already been promised and have budgeted for the current fiscal year.

In other words, Udall indicates he's voting against the cuts because they aren't accompanied by adequate new spending for a change in mission for the labs, and because the bill rescinds promised funding that has shaped the labs' budgets in the current year.

Moving Into the Future
Ultimately, Udall's vote is meaningless, except in political terms. He was heavily outvoted on the committee and change is coming to the labs one way or the other. Lab supporters can either stubbornly resist the inevitable or see the handwriting on the wall and embrace a shift in direction. It's evident that a majority of the Congress views the current focus of our national labs on making more nuke weapons as wasteful and out of tune with 21st century concerns.

The message is clearly being sent that nuclear weapons activities should be put on hold until the U.S. develops a comprehensive new strategy for the coming decades. And it's also clear that that strategy will strongly emphasize nuclear non-proliferation, research on renewable energy production, nuke waste cleanup and intelligence analysis -- not a new generation of nuclear weapons.

I think it's unfortunate that Udall felt compelled to vote against the cuts, but I also believe the brunt of the blame for our current situation should go to Sen. Pete Domenici and his cohorts. Domenici, by focusing almost exclusively on "protecting" the labs' historical Cold War mission way beyond its usefulness and meaning in the real world, has effectively jeopardized the labs' ability to transition to a mission that makes sense in today's much changed geopolitical and energy climate.

The transition should have begun long ago, but because Domenici and others have stubbornly resisted change, the transition will be harder on New Mexicans and may even mean an abandonment of Sandia and LANL. Change or die. Unfortunately, Domenici and others who continue to cling to a Manhattan-Project-style mentality are actually increasing the odds that the labs will be judged to be expendable as we move forward into an era far removed from the Cold War.

Despite his vote yesterday, it's plain that Tom Udall gets it, and just as plain that Steve Pearce, his GOP rival in the U.S. Senate race, does not.

Read the coverage by the Albuquerque Journal and the Santa Fe New Mexican.

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Check Out Encouraging Report on ABQ "Green" Businesses

Great news about green businesses in Albuquerque today, and opportunities for an abundance of green jobs in the future. Now if the old economy politicos and officeholders would just wake up and smell the green, we might start moving energetically into the new economy that will dominate the 21st century. Stop the push to drill in ANWR and offshore and start the innovating -- and pass the legislature we need to encourage and nurture it.

The non-profit groups New Mexico Youth Organized and the 1 Sky New Mexico Campaign today announced the release of a new report that details great potential for emerging “green” businesses in the Albuquerque area. According to the announcement, the Albuquerque Green Sectors report, which was commissioned by NMYO & 1Sky NM, suggests the possibility of huge growth in such green job sectors as construction, manufacturing, professional, scientific and technical services throughout the Albuquerque area.

The Albuquerque Green Sectors report provides valuable analysis that will be utilized immediately. New Mexico Youth Organized has worked with the Albuquerque City Council to introduce legislation creating green jobs training through local workforce development institutions.

“This report shows that if we don’t prepare for the ‘green’ wave, Albuquerque and New Mexico will be left behind,” said Keegan King, director of NMYO. “Our City has the potential to lead the country in ‘green’ manufacturing and ‘green’ technology development but only with investment and a workforce to support it.”

“As a young person’s organization, we at NMYO believe that our city and state government needs to begin transitioning our economy to one built on high-paying jobs in green industries,” said Juan Reynosa, organizer with the 1Sky Campaign. “1Sky’s Green-collar Jobs campaign will bring desperately needed jobs to New Mexico and help move our antiquated energy policy to one built on a clean, renewable economy.”

Click for a copy of the Executive Summary.

To read profiles of young people and green business owners over the coming weeks go to:
www.clearlynewmexico.com

To download the complete Green Sectors Report go here.

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(Updated) Jim O'Donnell Guest Blog: The Right-Wing Offshore Drilling Scam

Update: Also see New Mexico FBIHOP's post that expands on this post by discussing this issue in terms of the views being expressed by New Mexico's Congressional delegation.
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We're very pleased to have another insightful guest blog from Jim O'Donnell, author and former coordinator of the Coalition for the Valle Vidal in northern New Mexico:

Over the past eight years, the number of drilling permits issued for development of public lands increased by more than 361%. Have you seen your gasoline costs drop? How about your electricity costs? Propane? Natural gas? Uh ... no.

Don’t be fooled, amigos. All this talk about offshore oil drilling and the price of gas and the pump is a bunch of horse manure. In fact, the Republican Party is colluding with the oil and gas industry to drive up the price of energy.

This is criminal.

The oil and gas industry, buoyed by their Right-Wing minions are on a coordinated and well-thought out mission to end the twenty-six year old moratorium on off-shore oil and gas drilling. The goal?  Increase corporate profit at your expense.

First of all, there is no “ban” on drilling. In reality, there is a moratorium on drilling in certain coastal areas. Other areas are not only open to drilling but leases and drilling permits have already been issued. And they are not being drilled.

In fact, only 17% of the leased areas are in production. So, with about 33 million acres of offshore areas already available to drill and not being drilled, why does the oil and gas industry need to have access to still more? The fact is that tens of BILLIONS of barrels of oil off the coast of the United States are currently available for drilling ... and industry is not drilling it. It has been estimated by the Energy Information Administration that if all of those currently inactive leases were drilled, the USA would produce an additional 4.8 million barrels of oil and 44.7 billion cubic feet of natural gas EVERY DAY, accounting for a doubling of US oil production and a 75% increase in US natural gas production. The Minerals Management Service tells us that about 80% of fossil fuels available in offshore are currently available for development.

This is the story throughout the country. All told (onshore and offshore), 68 million acres are leased and sitting idle. Over 10,000 permits are currently 'stockpiled' by industry. But still they want more.

Meanwhile, Senate Republican last week blocked debate of a bill that would have offered about $17.7 billion in tax incentives for consumers to build renewable energy sources.  Nice.

What's going on here is yet another cynical attempt by the GOP and the oil and gas robber barons to increase and assure huge industry profits at the expense of the American people.

These companies don’t want to drill these areas. They want to hold them as assets to limit the amount of oil and gas on the market so that prices rise still further - and they make more money. They want to hold on to these areas so that they can drill them ten or fifteen years from now when oil is at $300 a barrel and make an even bigger fortune. 

This is criminal.

John McCain, George W. Bush and the Republican Party don’t give a damn about high energy prices. In fact, they are colluding with the oil and gas industry and Wall Street traders to deliberately drive up prices and increase profits while you and I suffer.

Don’t be fooled.

This is a guest blog by Jim O’Donnell, who is the former coordinator of the Coalition for the Valle Vidal. He is also the author of "Notes for the Aurora Society," due out later this summer. He writes, walks and marvels from northern New Mexico.

Guest blogs provide our readers with an opportunity to express their opinions on pertinent political issues. If you'd like to submit a piece for consideration as a guest blog, contact me by clicking on the Email Me link on the upper left-hand corner of the page.

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Obama Quote of the Day: McCain's Flip-Flop on Offshore Oil Drilling

"John McCain's support of the moratorium on offshore drilling during his first presidential campaign was certainly laudable, but his decision to completely change his position and tell a group of Houston oil executives exactly what they wanted to hear today was the same Washington politics that has prevented us from achieving energy independence for decades. 

"Much like his gas tax gimmick that would leave consumers with pennies in savings, opening our coastlines to offshore drilling would take at least a decade to produce any oil at all, and the effect on gasoline prices would be negligible at best since America only has 3% of the world's oil. It's another example of short-term political posturing from Washington, not the long-term leadership we need to solve our dependence on oil.

"Instead of giving oil executives another way to boost their record profits, I believe we should put in place a windfall profits tax that will help to ease the burden of higher energy costs on working families, and we should invest in the affordable, renewable sources of energy that Senator McCain has opposed in the past," said Barack Obama.

Pearce = McCain = Bush
It should be noted that Repub Steve Pearce, who's running against Rep. Tom Udall for the U.S. Senate seat in New Mexico, also strongly supports offshore drilling. Not surprising given that Pearce backs the Bush-McCain agenda on pretty much every issue.

Visit Obama '08 to sign up with his campaign. And consider donating to the campaigns of Obama, Udall and others at True Blue New Mexico -- organized by the progressive New Mexico netroots, including New Mexico FBIHOP and the Democracy for New Mexico blog.

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Join AFL-CIO, Working Families in ABQ Today to Protest Gas Prices and Giveaways to Big Oil

The latest federal legislation aimed at tamping down windfall profits for the big oil companies, as well as out-of-control speculation that's a big factor in driving up gas prices, was blocked by Repub Senators yesterday. GOP Senators even used a filibuster threat to stop the extension of tax credits for solar and wind energy, some of which have lapsed and some that will sunset at the end of the year. This last move will almost certainly damage alternative energy development businesses in New Mexico, causing the loss of more good-paying jobs down the road.

Good going Pete Domenici and crew. As always, GOP Senators buckled to pressure from Bush, who had threatened to veto the bills if they came to his desk. The Big Oil cronies like things just the way they are -- transferring huge gobs of money from ordinary people into the hands of their wealthy friends and supporters -- as profits and prices skyrocket for goods and transportation.

This latest Repub move to protect Big Oil -- regardless of the consequences -- follows on the heels of their blocking climate change legislation last week that would have enacted a much-needed cap and trade program and requirements designed to rein in rampant oil futures speculation and price fixing.

The boondoggle continues. Big donors to the GOP cause prosper beyond all reason. Working people suffer. Bush doesn't care. Worst of all -- prez candidate John McCain wants to continue Bush's energy horror show for at least four more years.

Join Today's Protest
AFL-CIO members, their families and local citizens won't take it sitting down. They'll join together this afternoon to speak out and protest the record high gas prices. The event will take place at the Shell gas station located at 5210 Central Avenue SE (at San Mateo), at 4:30 PM. Plans for the protest were sparked this week when the national average price of gas hit $4 on Monday, June 9, 2008, up from $1.47 the week President Bush took office.

"This is the first time in our nation’s history that gas has hit such a record high. The price of gas is literally choking working men and women out the American dream. It’s time for Pres. Bush and Sen. McCain to stop the giveaways to their friends in Big Oil and instead start sticking up for working people at home,” said Chris Chavez, Executive Director of the New Mexico State Federation.

At today's protest, union members and citizens will be calling on President Bush to boost the local economy in New Mexico and invest in jobs and energy independence. They will also be calling for an end to tax breaks that benefit Big Oil. The Albuquerque event is one of sixty happening nationwide as part of an AFL-CIO campaign to call on solutions to the record high gas prices.

WHO:  AFL-CIO working families in New Mexico
WHAT: Protest against soaring gas prices
WHERE: Shell Gas Station, 5210 Central Ave. SE (San Mateo & Central)
WHEN: Wednesday June 11th, 4:30-5:00 PM

Think about this: McCain's corporate tax cut proposal alone would give the five largest oil companies $3.8 billion in tax breaks. McCain loves big breaks for Big Oil.

I like this quote:

Senator Claire McCaskill, a Missouri Democrat, called the tax breaks given to the oil companies "the largest packet of corporate welfare" ever granted by the U.S. Congress.

"Last year Exxon Mobile made $83,000 a minute in profits. Are they using all this profit to invest in alternative fuels? How about increasing refinery capacity? Oh no, they've got their hand out to us. This is the nerve," she told colleagues. "What nerve does it take for us to give oil companies $17 billion in taxpayer money with those kind of profits? This is like the twilight zone."

AFL-CIO President President John Sweeney had this to say: "Record gas prices are choking off the American Dream for millions of working families. When gas costs $4 a gallon, it defies logic that President Bush and Sen. McCain continue to support massive tax giveaways for Big Oil, while offering no real path to energy independence.  Are Bush and McCain so dangerously out of touch that they think the answer to the gas price crisis is billions more in tax breaks to ExxonMobil?"

At the rallies this week, AFL-CIO working families will highlight the oil industry's massive profits under George Bush -– which top $525 billion -– as prices have skyrocketed from $1.47 a gallon when Bush took office to a historic high of $4 a gallon today.

McCain's Dismal Energy Record
Union members will also raise awareness about Sen. McCain's record in support of the oil industry's interests, and highlight his lack of empathy for working families who are struggling. In addition to proposing massive tax giveaways for Big Oil, McCain has repeatedly voted to protect the oil industry's profits, even as they're squeezing working families at the pump. McCain voted against curtailing oil companies' windfall profits to give working families a tax cut in 2005, and he skipped a vote in 2007 that would have repealed tax breaks for Big Oil. Despite the economic woes facing working families, McCain asserted again last week that he believes the fundamentals of the economy are "very strong."

"Working people are getting battered in today's economy, and they're fed up with business as usual," Sweeney said. "It's more than the gas prices. The economy is bleeding jobs and people's stagnant paychecks can't cover the grocery and housing bills. Record gas prices are part of a much larger problem –- leaders like Bush and McCain have handed the reins of the economy over to Big Oil and other corporate interests whose only concern is maximizing their profit margins."

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