For more than a century, the federal government has subsidized the oil and gas industry through the tax code and the federal oil and gas leasing system. The oil and gas industry is one of the most profitable industries in history. And every year, oil and gas companies spend millions of dollars on lobbying and political contributions to keep their taxpayer subsidies.

Record high gas prices are hurting American consumers. But they are not hurting the oil and gas industry. In fact, oil and gas companies are reporting record-breaking profits.

According to lobby disclosure reports, many oil and gas companies have used this money to lobby Congress and the Administration in the wake of the war in Ukraine.  For example, ConocoPhillips spent $4.6 million on lobbying in Q1 2022, more than its lobbying expenditure for all of 2021, lobbying for “support for continued crude oil and LNG exports and U.S. global energy security in the wake of invasion on Ukraine” and against “potential restrictions on U.S. crude oil and/or LNG exports.”

Read the full report below, or download here.