Rep. Hodes Panders at the Pumps

CONCORD – U.S. Rep. Paul Hodes held a press event today to pander about high gas prices. This comes a year after he criticized then-Congressman Charlie Bass for…high gas prices. Meanwhile, Hodes has significant personal investments in energy stocks, which are presumably doing very well given how much energy costs have increased since Rep. Hodes arrived in Congress:

During His 2006 Race For Congress, Hodes Criticized His Opponent On Energy Policy And High Gas Prices. “As a member of the Energy and Commerce Committee, Bass is supposed to protect New Hampshire Consumers from price-gouging and $3-a-gallon gasoline.” (Paul Hodes, Letter to the Editor, “Market Forces?” Concord Monitor , May 4, 2006)

Yet During Hodes’ First Five Months In Office, The Average Price Of Gasoline Increased 93 Cents. “The Lundberg Survey of about 5,000 gas stations was carried out June 8 and May 18.When the average price of gasoline hit $3.18 in May, it was the highest price ever recorded, even when adjusted for inflation, according to a previous Lundberg survey. The 7.37-cent drop comes nowhere near offsetting the $1.00 rise in the price of gas that occurred between January 19 and May 18, said survey publisher Trilby Lundberg.” (CNN, “Survey: Gas Prices Post First Drop SinceJanuary,” June 10, 2007)

In May 2007, Gas Prices Reached An All-Time High. “The national average price for a gallon of regular gasoline is $3.18, according to the latest Lundberg Survey. As CBS News correspondent Randall Pinkston reports, that is the highest average cost per gallon ever in the United States – even adjusting for inflation.” (CBS, “Gas Prices Hit AnAll-Time High, May 20, 2007)

Hodes Has Deep Financial Interests In The Oil, Natural Gas, And Energy Industries

  • In 2005, Hodes Held $15,796.50 In Stock From Canadian Oil Sands Trust In Mutual Fund. (Paul Hodes, United States House Of Representatives Financial Disclosure Report, May 12, 2005)
  • In 2005, Hodes Held $29,600 In Stock From Center Point Energy, Inc In Mutual Fund. (Paul Hodes, United States House Of Representatives Financial Disclosure Report, May 12, 2005)
  • In 2005, Hodes Held $20,640 In Stock From Aquila, Inc. In Mutual Fund. (Paul Hodes, United States House Of Representatives Financial Disclosure Report, May 12, 2005)
  • In 2005, Hodes Held $12,220 In Stock From Allegheny Energy, Inc In Mutual Fund. (Paul Hodes, United States House Of Representatives Financial Disclosure Report, May 12, 2005)
  • In 2005, Hodes Held $13,616 In Stock From Williams Companies, Inc In Mutual Fund. (Paul Hodes, United States House Of Representatives Financial Disclosure Report, May 12, 2005)
  • In 2004, Hodes Sold $6,149.85 In Stock In Pacific Gas & Electric Company. (Paul Hodes, United States House Of Representatives Financial Disclosure Report, May 12, 2005)
  • In 2004 Hodes Sold $11,719.54 In Stock In Edison International. (Paul Hodes, United States House Of Representatives Financial Disclosure Report, May 12, 2005)

Though Hodes Supporting “Price Gouging” Legislation In The House, He Also Invested In A Company Accused Of Doing Just That

In May, Hodes Voted In Favor Of Anti-Price Gouging Legislation. (H.R. 1252, Roll Call Vote 404: Passed 284– 141, May 23, 2007)

However, In 2005, Hodes Held $17,289 In Stock From Reliant Energy, Inc In Mutual Fund. ( Paul Hodes, United States House Of RepresentativesFinancial Disclosure Report, May 12, 2005)

Reliant Energy Has Been Accused Of Price Gouging. “Reliant Energy alone has paid nearly $125 million to federal and state governments for its role in what Public Citizen called ‘intentionally shutting down power plants in California to drive up prices’ of electricity, and to increase corporate profits. Reliant has also been criminally indicted by the Bush Administration for its price-gouging, a Public Citizen release asserted.” (“Public Citizen Questions Formation Of Lobbying Group Whose Members Were Accused Of Market Manipulation,” Foster Electric Report , 3/30/05)