President Joe Biden and the White House administration have demonstrated a strong focus on clean energy policies, investing billions of dollars to support American residents and businesses since Joe Biden took over the White House office. The state of California, with Gov. Gavin Newsom, has been at the forefront of pushing these policies and leading the nation in the changes millions of Americans find controversial and too early to implement. But billions of dollars and years of effort to support the change could go down the river after a Florida meeting last month between Trump and top oil and gas executives.
Money plays a crucial role
Since the start of the presidential race, Trump’s campaign has been lagging behind Joe Biden’s, which has managed to raise much more money and use it to buy expensive ads. More money doesn’t guarantee a win, but it definitely gives candidates more options and opportunities to promote their candidacies. Despite trailing behind with raising money and the huge legal bills Trump pays each month, everything could soon change in Trump’s favor if last month’s meeting at Mar-a-Lago Club in Florida turns in the direction Trump hopes to.
Meeting with top oil and gas executives
Former President Donald Trump is eager to meet the oil and gas industry’s expectations if he returns to office, but he has a price. Reports indicate he asked leading oil and gas executives for a staggering $1 billion to fund his campaign to reclaim the White House. In exchange, Trump has promised to roll back numerous green energy policies implemented by President Joe Biden if elected in November. Although it’s hard to believe that Trump will get $1 billion, a huge amount to fund his campaign could skyrocket his ability to flood the media with ads and focus more seriously on the presidential race after the New York hush money trial.
Last month, Trump hosted prominent fossil fuel executives at his Mar-a-Lago estate in Florida, where he reportedly left them “stunned” with his request, according to The Washington Post. He emphasized that the $1 billion would ultimately prove to be a “bargain” for the fossil fuel sector, given the financial benefits they would enjoy if he were in office. An unnamed industry insider mentioned to the Post that Trump is likely to secure some funding
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A well-known relation
The oil and fossil fuel industry has long found a strong ally in the Republican Party, which advocates for fossil fuel growth. With the 2024 election approaching, the industry has prepared “ready-to-sign” executive orders for Donald Trump, should he secure the presidency, Politico reported. These orders focus on increasing offshore oil leases and expanding natural gas exports. A second Trump term would starkly contrast Biden’s clean energy agenda that prioritizes electric vehicles and aggressive climate change measures. Trump has denied global warming as a “hoax” and is committed to dismantling Biden’s climate initiatives in the Inflation Reduction Act.
Political games
Meanwhile, Republicans in Congress have worked to overturn Biden’s recent environmental regulations, such as those aimed at tailpipe emissions and heavy-duty trucks. Just recently, House Republicans passed a series of bills to reverse Biden’s restrictions on drilling across millions of acres in Alaska and remove protections for public lands that prioritize conservation and ecosystem restoration over extraction activities like mining and drilling.
To counter this push, the Biden administration is rushing to finalize key regulations before the Congressional Review Act gives Republicans under Trump a chance to repeal them. This law grants Congress a window to undo newly established White House rules. However, if Trump wins the presidency, he could still dismantle these regulations unilaterally.
Trump ready to act immediately
Donald Trump seems to be preparing to implement many policy priorities laid out in Project 2025, a comprehensive plan created by right-wing organizations to guide his potential return to the White House. Some sections of this pro-Trump plan closely align with the oil industry’s agenda. The energy segment of the Interior Department chapter was authored by Kathleen Sgamma, president of the Western Energy Alliance, a leading oil and gas trade group.
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Democrats blame Trump and Republicans
The fossil fuel industry has played a significant role in the climate crisis and spent years denying and minimizing its impact, often aided by Republican allies. Democrats have criticized Trump for aligning with fossil fuel executives, arguing that this relationship could further undermine American democracy.
“Big Oil CEOs will happily use the billions they’ve made selling dirty expensive energy to further warp American democracy, if it means they can keep wrecking the planet for free,” Sen. Sheldon Whitehouse (D-R.I.) wrote in a post on X , formerly Twitter, on Thursday.
