U.S. Democrats are investigating Trump’s campaign promises to the oil industry
Www.oeisdigitalinvestigator.com:
Senate Democrats on Thursday announced an investigation into former President Donald Trump’s offer to oil and gas executives to revoke the Biden administration’s pro-environmental policies if they backed his campaign.
Nvidia earnings stun the street and the stock is soaring
The Republican candidate for U.S. president met with some of the nation’s top oil executives at his Mar-a-Lago resort in Palm Beach, Florida last month. During the meeting, he reportedly offered a deal: If the execs raise $1 billion for his campaign, Trump would “immediately reverse dozens” of president Joe Biden’s environmental rules and policies once in office, The Washington Post reported.
The inquiry, led by Democrats Ron Wyden and Sheldon Whitehouse, is the second congressional investigation into the April 11 fundraising dinner, which has also been reported on by Politico and The New York Times. During the meeting, Trump reportedly told more than a dozen oil and gas executives that they would save well above $1 billion in dodged taxes and legal fees from his promises to appeal Biden’s regulations.
The U.S. Senate Committees on Budget and Finance on Thursday sent letters requesting information about the meeting from eight top oil and gas companies, including Chevron, ExxonMobil, and Occidental Petroleum, as well as the American Petroleum Institute (API), a trade association. They also requested records of all donations made by the companies and related parties to Trump’s 2024 presidential campaign, as well as any draft policy-related documents or proposals created for potenital use by a possible Trump administration.
On Wednesday, Trump was the main attraction at a fundraiser for the super PAC MAGA Inc. and hosted by three oil executives. That includes Occidental Petroleum president Vicki Hollub, Energy Transfer Partners CEO Kelcy Warren, and Continental Resources founder Harold G. Hamm.
“Time and time again, both Mr. Trump and the U.S. oil and gas industry have proved they are willing to sell out Americans to pad their own pockets,” the senators wrote to the firms. “Mr. Trump and Big Oil are flaunting their indifference to U.S. citizens’ economic well-being for all to see, conferring on how to trade campaign cash for policy changes.”
Jamie Raskin, a Democrat representing Maryland’s 8th district in the House of Representatives, last week made similar accusations and sent the same 9 firms letters requesting information. Raskin is the top Democrat on the House Oversight Committee.
Promises, promises
At the April meeting, Trump said he would auction off more leases for oil drilling in the Gulf of Mexico, continue to criticize wind power, and reverse restrictions on drilling in the Alaskan Arctic.
He also promised to revoke the Department of Energy’s freeze on permits for liquefied natural gas (LNG), which has been assailed by fossil fuel groups and celebrated by environmentalists. The pause — which applies to exports to any country the U.S. does not have a free-trade agreement with — is a big deal for oil executives. The U.S. was the largest exporter of LNG during the first half of 2023, averaging 11.6 billion cubic feet per day.
Plus, he said he would do away with the Environmental Protection Agency’s recently-finalized rules on tailpipe emissions, which have won praise from automakers and climate activists. The API, which represents nearly 600 members in the U.S. natural gas and oil industry, claims that the rule will make new gas-powered cars “prohibitively expensive for most Americans.”
“Joe Biden is controlled by environmental extremists who are trying to implement the most radical energy agenda in history and force Americans to purchase electric vehicles they can’t afford,” Karoline Leavitt, a spokesperson for Trump’s 2024 presidential campaign, told Quartz in a statement earlier this month.
