We know that Big Oil has deep pockets. Now, this ruling has allowed them to dig even deeper to influence elections, and destroy our clean energy future in the process.
Consider what kind of damage this ruling could cause: In the 2007-2008 election cycle, before this catastrophic Supreme Court ruling, ExxonMobil spent just $800,000 on election activities due to existing restrictions. With these limits no longer in place, Exxon's record-breaking profits could be tapped without restraint. If Exxon diverted just two percent of their $45 billion in 2008 profits to electoral activities, they could outspend the Obama and McCain campaigns combined.
This Supreme Court decision is part of the disastrous legacy of one of Big Oil's best friends – George W. Bush. It was Chief Justice Roberts and Justice Alito, Bush-appointed justices, who were the key swing votes in this outrageous decision.
President Obama criticized this ruling in his State of the Union address, saying it would "open the floodgates for special interests" to spend without limits in our elections, and called on Congress to pass a bill that fixes this wrong-headed decision.