Oil Companies Back Ted Budd to Keep Profits and Your Gas Prices High

Ted Budd, Congressman from North Carolina and current senate candidate, has taken over $195,000 from the oil, gas, and energy industries. In May, he hosted a private fundraiser with Continental Resources PAC, the major fossil fuel company’s political action committee that contributed to his campaign just one day before he voted against legislation that would hold big oil companies accountable for price gouging and help to lower prices at the pump for consumers.

Oil companies are making billions in profits this year as they intentionally keep supply low. They are not using the record number of drilling permits granted to them by the Biden administration. Instead, they are intent on keeping the supply of oil low to keep the cost of gas high. Five companies, (BP, ExxonMobile, Chevron, London-based Shell, and France’s Total Energies) have earned over $55 billion in profits in this year’s second quarter earnings alone. 

As a result of the grotesque greed of the oil companies and rubber stamps from Ted Budd, they are punishing the poorest and most vulnerable people, while they ignore climate change.

They’re definitely not paying Ted Budd to lower your case prices.

Sources
The American Independent: “Ted Budd took oil company donation one day before voting against gas price-gouging ban”

Washington Post: “Amid world crises, ‘grotesque greed’ wins out”

OpenSecrets: Ted Budd contributions from oil industry