Buying Legislation July 26, 2011 : 6:16 PM

Bloomberg had a fascinating article last week about how climate deniers like the Koch brothers and oil companies such as Exxon buy legislation:

“Koch Industries Inc. and Exxon Mobil Corp. (XOM) are among companies that would benefit from almost identical energy legislation introduced in state capitals from Oregon to New Mexico to New Hampshire -- and that's by design.”

“The energy companies helped write the legislation at a meeting organized by a group they finance, the American Legislative Exchange Council, a Washington-based policy institute known as ALEC.”

“The corporations, both ALEC members, took a seat at the legislative drafting table beside elected officials and policy analysts by paying a fee between $3,000 and $10,000, according to documents obtained by Bloomberg News.”