Democratic Representative Daniel Goldman of New York is pushing legislation against big oil “profiteering” after allegations of large assets in the major oil companies he chaired.
Goldman announced this month that it is sponsoring legislation called The Big Oil Windfall Profits Tax Act, which would “tax big oil companies that make profits after the COVID pandemic” and reinvest in “underserved and climate justice communities.”
“Since the start of the COVID pandemic, Big Oil has made record profits while gas prices soar, American families struggle to make ends meet and climate change continues to wreak havoc on our communities,” Goldman said of the proposal and in a statement. Another piece of legislation called the Energy Resilient Communities Act.
“These two important pieces of legislation would redirect unjustified corporate profits into the pockets of everyday Americans and invest in life-saving green infrastructure in communities on the front lines of the devastating effects of climate change.”
OVER DEM ROAD RESEARCH RELATED TO CONSULTATIONS TORPEDO SEARCH TEAMS SEEKING MILLION
Rep. Dan Goldman talks to reporters about the House steps after the vote on January 12, 2023. (Bill Clark/CQ-Roll Call, Inc via Getty Images)
The cap-and-trade legislation aims to tax oil companies that produce or import more than 300,000 barrels per day. The per-barrel tax would be “50% of the difference between the current price of a barrel of oil between 2015 and 2019 and the average price of a barrel before the pandemic.”
The tax “will also apply to oil profits in 2022 and beyond so that Americans affected by high prices can be made whole,” his office said in a press release, adding that “oil giants like Exxon Mobil and Chevron simply can’t let consumers down.” even more without the threat of losing market share.”
However, Goldman disclosed significant stakes in oil companies targeted by his legislation, as well as those highlighted by his office. The New York Democrat said he held between $100,001 and $500,000 in Exxon Mobil investments in a July 2022 financial disclosure form. He also reported Chevron assets between $100,001 and $500,000.
The two giants, however, were not the only prominent oil companies in his investment portfolio. Goldman reported between $100,001 and $500,000 in assets in ConocoPhillips, which produces millions of barrels of oil a day and would be taxed under his proposal.
DEM CONGRESSMAN’S BENEFITS HAVE MORE THAN $30 MILLION TIED UP IN CAYMAN ISLANDS FUNDS
Attorney Daniel Goldman questions Ambassador Bill Taylor, the U.S. chargé d’affaires at the U.S. Embassy in Ukraine, during an impeachment hearing of President Donald Trump on Capitol Hill, Nov. 13, 2019. (Reuters/Jonathan Ernst)
The filings also show he made $100,000 in investments in Marathon Petroleum Corp., which produces millions of barrels of oil a day and would face new taxes.
Goldman’s legislation would use oil tax revenue to provide a rebate to consumers earning more than $75,000 in annual income and single filers earning more than $150,000.
“With oil priced at $90-$100 per barrel, this rate would raise approximately $49.1 billion per year,” the press release said. “At that price, single filers would receive $260 annually and joint filers $390.”
Goldman, a wealthy heir to the Levi Strauss jeans company fortune, entered Congress this year, but began pushing far-left climate policies during the midterm campaign.
REP. DEMOCRAT DAN GOLDMAN SAYS TRUMP, BIDEN CLASSIFIED DOCUMENT SCANDALS ARE ‘APPLES AND ORANGES’.
Reps. Ritchie Torres and Daniel Goldman speak to reporters outside the office of Rep. George Santos on January 10, 2023. (Laura Figueroa Hernandez/Newsday RM via Getty Images)
In the 2022 election, Goldman’s campaign website said climate change is an “existential and urgent threat” and supports the principles behind the controversial Green New Deal.
“Dan supports the principles and goals of a Green New Deal for a clean energy transition that will also create millions of paying union jobs,” the website says.
CLICK HERE TO GET THE FOX NEWS APP
“Dan will work to encourage private companies to invest in renewable energy and to encourage the production of community and public power. We need to promote public-private partnership to fight climate change at the pace needed to save our planet,” he added.
Goldman’s office did not respond to Fox News Digital’s request for comment on his oil company’s investments.
Joe Schoffstall is a political producer/reporter for Fox News Digital. Story tips can be sent to Joe.Schoffstall@Fox.com and on Twitter: @joeschoffstall