Senate Finance Committee's Connection with Oil, American Solutions Changes Strategies and More in Capital Eye Opener: May 13 http://www.opensecrets.org/news/2011/05/senate-finance-committees-connectio.html

Your daily dose of news and tidbits from the world of money in politics:OIL MONEY AND FINANCE COMMITTEE MEMBERS: The Senate Finance Committee conducted a hearing Thursday on whether to end tax breaks for the nation's five biggest oil companies. Senate Democrats have proposed eliminating $21 billion in tax cuts during the next 10 years, as they say this will help reduce the nation's budget deficit. Chevron Corp Chief Executive John Watson argued that the tax increases would "hinder development of energy supplies needed to moderate rising energy prices. It will mean fewer dollars to state and federal treasuries ... and fewer jobs — all at a time when our economic recovery remains fragile."

Sen. John Rockefeller (D-W.Va.) pushed back against the executives saying, "You're deeply out of touch."The five companies represented at the hearing were BP, Chevron, ConocoPhillips, Exxon Mobil and Shell Oil. They are all politically active and have, in recent years, spent tens of millions of dollars on lobbying and political donations. Historically, the oil and gas industry leans Republican with an average of 76 percent of political donations going to Republicans. See OpenSecrets.org's oil and gas industry profile here.

The chart below shows how much money each member of the Senate Finance Committee has received in their career from the oil and gas industry's political action committees. Sen. John Cornyn (R-Texas) tops the list receiving more than $314,000. The last column shows what percentage of a member's political action committee money comes from the oil and gas industry.Interestingly, Public Campaign Action Fund points out that Sen. Mike Crapo (R-Idaho) attended a fund-raiser an hour before the hearing that was co-hosted by a lobbyist who represents BP. One of the seven hosts was Aleix Jarvis, a lobbyist for Fierce, Isakowitz & Blalock. So far, BP has paid this lobbying firm $60,000.