POLITICS

Ex-Shell CEO cited by White House an Obama donor

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Politics,Beltway Confidential,Money Watch,Charlie Spiering

In a press briefing yesterday, White House Press Secretary Jay Carney defended President Obama's plan to raise taxes on oil companies by citing the ex-CEO of Shell Oil Company suggesting that the industry did not need tax breaks.

During the briefing, reporters questioned Carney whether ending tax breaks for oil companies would only cause gas prices go higher.

"I think that I'll rely on what the former CEO of Shell said just last year," Carney replied, highlighting a quote. "'In the face of sustained high oil prices, it was not an issue for large companies of needing the subsidies to entice us into looking for and producing more oil.' I mean, what more enticement do you need than the price of oil that pertains today?  What more enticement do you need than the record profits you're making today?"

The former Shell CEO named by Carney, is John Hofmeister, who retired and started a non-profit group Citizens for Affordable Energy. Hofmeister also authored a book in 2010 called "Why We Hate the Oil Companies."

FEC records show that in October 2011, Hofmeister donated $5,000 to the Obama campaign and $7,500 to the Obama Victory Fund, a joint fundraising committee paired with the DNC.

In 2008, Hofmeister also donated $2300 to Obama and $2300.00 to Sen. John McCain.

 

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