DNC Says No More Fossil Fuel Money, But Wall Streeters Welcome!

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Published on 21 Jun 2018, 15:00
The DNC has finally decided to stop taking money from fossil fuel companies, a great step forward, but there’s about a hundred other industries they need to also abandon. Ring of Fire's Mike Papantonio and Farron Cousins discuss this.

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Well, the DNC has finally decided to stop taking money from fossil fuel companies. It's a great step forward but there's about a hundred other industries that they need to abandon. Yeah, again, full disclosure. I'm not a Democrat. I'm not a Republican. I've been Independent for 30-plus years. I just try to call balls and strikes. If a candidate looks good on the Rs, I'll go with that candidate. If they look good on the Ds, I'll go with the candidate. Nothing tribal about it. Hopefully, it's analytical and we make right decisions if we analyze facts.

So here, the DNC is putting this out as if this is revolutionary. We're not going to take money from the fossil fuel industry. Well, the other part of that story is, they don't get much money to begin with. The Republicans get all the money from the fossil fuel industry.

Now the real question I would have, and I've asked them this in the past. I mean, I've been on panels where this has come up, where the discussion has been, maybe you ought to think about maybe not taking a gazillion dollars from the pharmaceutical industry or maybe you ought to turn down that money from Monsanto or DuPont or Dow or Wall Street. They are like a money magnet.

So here, it's like a card game. It's like a card trick. They're forcing a hand. I'm not going to take money from the fossil fuel industry. Well, right, they're not giving you that much to begin with. I think the Republicans make about six times as much from the fossil fuel industry. As a matter of fact, if you'll recall, Obama tried to change all that by letting the fossil fuel industry just frack America into oblivion. He signed more fracking, go frack, go frack. You remember that?

Yeah.

We're going to go frack everywhere. So they were trying to turn that around and even after he did that, the fossil fuel industry, they never really coughed up a lot of money.

Right.

So am I looking at this through the wrong glasses right now?

Well, look, when you read the headline, DNC Votes Unanimously To No Longer Accept Money From Fossil Fuel Companies. That on its face, you see that and you feel good-

Wow.

You're like, you know what, that is the right thing to do.

Yeah.

But when you even dig down into the story here, reported by ThinkProgress, they mention, well, Democrats don't get very much from these groups. Republicans get seven times more. So it's basically you have a panhandler out there saying, I'm not going to take any handouts from other panhandlers.

Yeah.

Well, okay, but they're not the ones who are running your campaigns. It is the Wall Street types. It is Big Pharma. You know, before Citizens United, in 2010, the two top donor groups for the Democratic Party were trial lawyers and labor unions. Following Citizens United, the group that jumped up to the top were investment bankers.

Yeah.

Now trial lawyers and labor unions keep falling further down that list, and it's all corporations. We've got defense contractors jumping up in there. But the big banks, the pharmaceutical companies, they hold the key there. So you might think, okay, well, we're not going to take money from these companies that are destroying the planet. Great for you. What are you going to do about-

About pharmaceuticals-

Yeah, about these-

... about Wall Street-

Yeah, the companies-

... about DuPont, about Dow, about Monsanto-

Yeah.

I could go on forever and it's almost as if they're trying to say, well, you know, we're just not like them. No, they are like them. There's no difference between them and them. It's the same thing. And so here you got this ploy, well, you know, we're not going to take any money from the fossil fuel industry. I gotta tell you something. If you really believe in either one of these parties, Democrat or Republican, you have responsibility, don't you think, to say, really?
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