BP to Pull the Plug On Political Donations
Oil giant BP said it will halt all political contributions worldwide, dropping donations amid increasing public scrutiny of corporate influence in governing.
London-based BP, which earns about half its $174-billion annual revenue in the U.S., has been criticized by environmentalists for backing a plan to drill for oil in the Alaskan wilderness.
BP ranked fourth among contributors in the oil and gas industry for the 2000 elections at $1.1 million, according to the Center for Responsive Politics.
BP’s shares rose 8 cents to $49.81 on the New York Stock Exchange.