Axelrod says will not revise Obama oil ad despite Clinton complaints.

MALVERN, PA.The Clinton campaign is complaining about an Obama ad where Obama touts that he does not take money from oil companies. But I talked to Obama top strategist David Axelrod a short time ago here and he said he has no plans to change it.

The ad has been criticized from factcheck.org as misleading because no federal candidatefor President, House or Senate can take money from corporations and corporate political action committees get their money mostly from employees.LINK

I have a different view of that, Axelrod said. He said he was right because Obama does not take money from political action committees. I think it was accurate the way it was, Axelrod said when I asked if he would be revising the oil ad.

We find the statement misleading, factcheck.org concludes

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Obama has accepted more than $213,000 from individuals who work for companies in the oil and gas industry and their spouses.

Two of Obama’s bundlers are top executives at oil companies and are listed on his Web site as raising between $50,000 and $100,000 for the presidential hopeful. (from factcheck.org)

Later today, the Clinton team will hold a conference call to unveil a radio spot they cut to respond to the Obama oil spot where he says, I dont take money from oil companies.”

As Senator Obama returns to Pennsylvania today, questions remain on why Senator Obama aired misleading television ads claiming he doesnt take money from oil companies, the Clinton campaign said in a statement. In response to his continued misleading rhetoric, the Clinton campaign will hold a conference call today to discuss Senator Obamas troubling pattern of saying one thing and doing another and announce it is airing a new radio ad in response to Obamas discredited television ad.

On the call will be T.J. Rooney, Pennsylvania State Democratic Party Chairman; Howard Wolfson, National Communications Director and Mark Nevins, Pennsylvania Communications Director

Almost all the money that goes into a corporate political action committee comes from the employees of the company. Employees also give individual donations. Oftennot alwaysone can see patterns in individual giving from people who work at the same company giving on or about the same time.

Factcheck.org says the difference between a PAC donation and individual contributions.

We’d say the Obama campaign is trying to create a distinction without very much of a practical difference. Political action committee funds are pooled contributions from a company’s or an organization’s individual employees or members; corporate lobbyists often have a big say as to where a PAC’s donations go. But a PAC can give no more than $5,000 per candidate, per election. We’re not sure how a $5,000 contribution from, say, Chevron’s PAC would have more influence on a candidate than, for example, the $9,500 Obama has received from Chevron employees giving money individually.

In addition, two oil industry executives are bundling money for Obama drumming up contributions from individuals and turning them over to the campaign. George Kaiser, the chairman of Oklahoma-based Kaiser-Francis Oil Co., ranks 68th on the Forbes list of world billionaires. He’s listed on Obama’s Web site as raising between $50,000 and $100,000 for the candidate. Robert Cavnar is president and CEO of Milagro Exploration LLC, an oil exploration and production company. He’s named as a bundler in the same category as Kaiser.