Trump Seeks $1 Billion From Big Oil as He Vows to Reverse Biden Climate Rules

• Trump seeks $1 billion campaign funds from oil executives, pledging to overturn Biden's environmental policies.
• At a Mar-a-Lago meeting in April, Trump promised to scrap energy and climate policies opposed by the industry.
• Politico has recently reported that the oil industry has drafted executive orders for a potential Trump re-election.

Donald Trump has asked executives of some of the largest U.S. oil producers to raise $1 billion for his campaign to return to the White House and promised to scrap many of the Biden Administration’s environmental policies, the Washington Post reported exclusively on Thursday, quoting sources familiar with a meeting.  

Trump, who was a very pro-oil president during his tenure at the White House, met with the top industry executives at his Mar-a-Lago Club in April to hear the grievances of the American oil industry, which has constantly criticized the energy policies of President Joe Biden, focused on reducing emissions and promoting clean energy sources.

Trump’s response to the executives, “You all are wealthy enough, he said, that you should raise $1 billion to return me to the White House,” the Washington Post quoted the sources, who spoke on the condition of anonymity to describe a private conversation.

During the dinner at Mar-a-Lago, Trump pledged, if elected, to immediately reverse many of President Biden’s energy and climate policies, including the electric vehicle (EV) mandates, wind energy initiatives, and other regulations that the U.S. oil and gas industry opposes.

The sector has actually opposed nearly all of the Biden Administration’s energy and climate policies.

Separately, Politico reported earlier this week that oil industry executives and lawyers are drawing up executive orders to be presented to Donald Trump if he wins another term in the White House.

According to the report, which cites some of those involved but without mentioning names, the industry is worried that “the Trump campaign will be able to focus on energy issues as Election Day draws closer” and that Trump himself may be too distracted to focus on energy.

The executive orders being drafted focus on lowering drilling costs, supporting more natural gas exports, and increasing the number of offshore leases on offer.

By Charles Kennedy for Oilprice.com

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