Tags: koch | brothers | oil | industry

Fact Checkers Back Kochs Over Liberal Adversaries

Monday, 14 May 2012 02:44 PM

By Newsmax Wires

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
The Washington Post’s Fact Checker blog and non-partisan FactCheck.org say liberal critics who have labeled billionaire GOP patrons David and Charles Koch as “Big Oil” are wrong, Politico reports.

It’s inaccurate to call the brothers’ company, Koch Industries, Big Oil because its operations go far beyond refining and other oil-based operations, the fact checkers say. And Koch is much smaller than the oil behemoths such as ExxonMobil in any case.

“Even if all of Koch Industries’ revenues came from its refining business — which they do not — they would still be a fraction of the revenues of the companies that actually represent ‘Big Oil,’” the FactCheck.org report said.

It cited an estimate from Forbes that privately-held Koch garnered revenue of about $100 billion last year, compared to $434 billion for ExxonMobil.

Not surprisingly, the liberal critics are unbowed by the fact checkers. The critics say the key issue is that Koch Industries’ KochPAC has made $514,204 in campaign contributions so far this year, more than twice ExxonMobil’s total. And that doesn’t include think tanks and other entities the Kochs finance to spread their free market message.

Robert Greenwald, producer and director of the documentary “Koch Brothers Exposed” asked Politico, “$100 billion is small? Where do we draw the line? Do we say that if you’re less than $150 billion, you don’t qualify as Big Oil?”

The problem is that the term Big Oil is used as an insult and is false in this case, a Koch Industries representative told the news service.

“I think when people think about Big Oil, they think about big, integrated oil companies,” those that produce, transport, refine, and distribute oil products, the representative said. “We are very proud of our involvement in the oil industry, but to characterize us as Big Oil is just not accurate.”



© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Sheriffs in Southwest: The Border Is 'Spiraling Out of Control'

Wednesday, 17 Sep 2014 22:04 PM

Describing the immigration crisis as "spiraling out of control," a coalition of five sheriffs' organizations in the Sout . . .

Alan Colmes, Dennis Kucinich: Would Not Have Bombed ISIS

Wednesday, 17 Sep 2014 21:10 PM

Liberal pundit Alan Colmes and former Democratic Rep. Dennis Kucinich caught the ire of Fox News Channel host Bill O'Rei . . .

Poll: Most Americans Want Strong US Global Leadership

Wednesday, 17 Sep 2014 20:47 PM

Most Americans want the United States to be an active player on the global stage, even after more than a decade of wars  . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved