Wednesday, May 28, 2008

Madam Gas Pump

From the Roy Carter for Congress campaign:
WINSTON-SALEM, North Carolina – In recent months, gas prices have risen to all time highs and Virginia Foxx, North Carolina’s 5th district representative in the U.S. House, has gone on the defensive, placing the blame squarely on others for this looming crisis. As gas prices reached more than $4.00 per gallon in some areas this past Memorial Day weekend, Foxx is directly profiting from the pain that Americans feel at the pump.

According to personal financial disclosure records, Foxx has owned between $15,001 and $50,000 of stock in Chevron Corporation since 2004. While Americans struggle to meet their expenses in the face of runaway gas prices, Foxx stands to take part in Chevron’s windfall profits. Already a multi-millionaire (her 2006 disclosure lists her total net worth between $2.9 and $9.6 million); Roy Carter believes that his opponent should review her contradictory stance on gas prices in the face of her quest for personal wealth.

“Under normal circumstances, investing in an oil company is a person’s prerogative” said Roy Carter, Democratic candidate for the 5th District seat. “But when an elected official directly profits from the oil industry and then gets on her soapbox to protest against the unfairness of high gas prices, it just rings untrue and is remarkably hypocritical. Until she sells her shares in Chevron, I don’t think anyone should take my opponent seriously.”

In addition to personal gain from high gas prices, Foxx’s campaign has benefited from the oil, pharmaceutical, and health insurance industries. According the Federal Election Commission, since she began running for US Congress in 2004, Foxx has accepted over $200,000 from these three industries in PAC money alone, including funds from the Petroleum Marketers Association of America and Exxon Mobil.

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