Oil hits $120 a barrel, Fossella just returning to work

We take a break from the ongoing news updates of Vito Fossella's arrest to bring you some news about the administration's failure to have any economic policies.

via Yahoo! Finance;

Light, sweet crude for June delivery rose 19 cents to US$120.16 a barrel in electronic trading on the New York Mercantile Exchange by midmorning Tuesday in Singapore. The contract surged to a trading record of US$120.36 a barrel overnight before settling at US$119.97 a barrel, up US$3.65 from Friday's close.

Threats to supply emerged over the weekend and on Monday from Iraq, Nigeria and Iran. Also, a pullback in the recovery of the dollar against the euro and yen pushed investors back to commodities such as oil as a hedge against inflation.

Normally at this point I would ask what exactly is Vito Fossella doing to help his constituents who are paying for this at the pump however he just returned to work today for the first time since his arrest, so the answer is pretty obvious, nothing.

via the NY State Democratic Party;

Today Vice President Dick Cheney came to Park Avenue to raise money from oil executives for his longtime buddy, Congressman Vito Fossella. At a fundraising luncheon at the Park Avenue home of billionaire oil executive David Koch, Cheney helped pad Fossella’s re-election campaign with money from Big Oil.

“What can we expect from Congressman Fossella in return? Higher prices at the pump and no accountability for oil companies banking record profits,” said NYS Democratic Chair June O’Neill.

“Vito Fossella’s campaign must be in serious trouble to have to import Dick Cheney and his oil buddies,” said O’Neill. “Vito Fossella has already received nearly a hundred thousand dollars in campaign contributions from Big Oil and sends his thanks by consistently voting against laws that would conserve energy. It’s sad that as gas prices continue to rise and too many are without health care, Vito Fossella is accepting thousands of dollars from the very people who are furthering the squeeze on the middle class. Vito Fossella should spend his time helping middle class families deal with rising gas prices instead of rubbing elbows with oil executives and Dick Cheney on Park Avenue.”

Oh and in 2000 Fossella made a big fuss about oil almost costing $30 a barrel. Now at $120 he is silent, and possibly still intoxicated.

see also:
Oil tops $115 barrel, Fossella silent
Oil tops $110 a barrel, Fossella doesn't care
Oil hits $105 a barrel, Fossella not concerned
Fossella skips out on Energy vote

NYS Dem Party assails Fossella over Cheney and Oil money

via NYS Dem Party;

FLAILING FOSSELLA CAMPAIGN BRINGS IN VP CHENEY TO RAISE BIG OIL MONEY

New York City – Today Vice President Dick Cheney came to Park Avenue to raise money from oil executives for his longtime buddy, Congressman Vito Fossella. At a fundraising luncheon at the Park Avenue home of billionaire oil executive David Koch, Cheney helped pad Fossella’s re-election campaign with money from Big Oil.

“What can we expect from Congressman Fossella in return? Higher prices at the pump and no accountability for oil companies banking record profits,” said NYS Democratic Chair June O’Neill.

“Vito Fossella’s campaign must be in serious trouble to have to import Dick Cheney and his oil buddies,” said O’Neill. “Vito Fossella has already received nearly a hundred thousand dollars in campaign contributions from Big Oil and sends his thanks by consistently voting against laws that would conserve energy. It’s sad that as gas prices continue to rise and too many are without health care, Vito Fossella is accepting thousands of dollars from the very people who are furthering the squeeze on the middle class. Vito Fossella should spend his time helping middle class families deal with rising gas prices instead of rubbing elbows with oil executives and Dick Cheney on Park Avenue.”

Vito Fossella’s votes in congress have consistently favored Big Oil to the determinant of the middle class. Whether it’s voting to cut Big Oil subsidies or voting for middle class tax cuts, Vito is always on the side of special interests.

Background information on Fossella’s “Thank You” to Big Oil for their past checks:

*Representative Fossella voted against the Renewable Energy and Energy Conservation Tax Act (H.R. 5351), which will end unnecessary taxpayer subsidies to Big Oil companies and use that money to make investments in clean, renewable energy and promote energy conservation. [H.R. 5351, #84 http://clerk.house.gov/evs/2008/roll084.xml , 2/27/08]

*In 2005, Representative Vito Fossella voted in favor of the energy conference report that included an estimated $85 billion worth of subsidies and tax breaks for most forms of energy – including oil and gas. [HR 6, Vote #445 http://clerk.house.gov/evs/2005/roll445.xml , 7/28/05]

*Representative Vito Fossella receives strong financial support from Big Oil. Representative Fossella has received $81,800 from Big Oil contributors. [OpenSecrets.org]

Votes against the Middle Class

*Representative Vito Fosella voted against a budget that contained middle class tax relief in the form of AMT reform for 20 million American families.

*The budget also created thousands of new jobs through funding of the innovation agenda, renewable energy development and green jobs

*The bill also contained investments in infrastructure development and repair. [H Con Res 312 establishes the budget for the government of the United States for Fiscal Year 2009. http://clerk.house.gov/evs/2008/roll141.xml