Obama's Oil Spill

Summary
In a new ad, Obama says, "I don't take money from oil companies."

Technically, that's true, since a law that has been on the books for more than a century prohibits corporations from giving money directly to any federal candidate. But that doesn't distinguish Obama from his rivals in the race.

We find the statement misleading:

Obama has accepted more than $213,000 from individuals who work for companies in the oil and gas industry and their spouses.

Two of Obama's bundlers are top executives at oil companies and are listed on his Web site as raising between $50,000 and $100,000 for the presidential hopeful.

Analysis
Sen. Barack Obama's ad began running late last week in Pennsylvania and Indiana. In it, Obama talks about the United States' reliance on foreign oil and the need for energy independence and alternative fuels.

Only Legal Contributions, Please

Obama's right on both counts when he says that "Exxon's making $40 billion a year, and we're paying $3.50 for gas." ExxonMobil's profits in 2007 hit $40.6 billion, the highest ever recorded by any company.

Obama '08 Ad: Nothing's Changed
Obama: Since the gas lines of the '70s, Democrats and Republicans have talked about energy independence, but nothing's changed — except now Exxon's making $40 billion a year, and we're paying $3.50 for gas.

I'm Barack Obama. I don't take money from oil companies or Washington lobbyists, and I won't let them block change anymore. They'll pay a penalty on windfall profits. We'll invest in alternative energy, create jobs and free ourselves from foreign oil.