A number of media sources have reported on a recent meeting between Donald Trump and fossil fuel company executives, at which Trump–often described as a “transactional” personality–offered a deal: if the industry would put a billion dollars into his campaign, once elected, he’d get rid of government efforts to combat climate change.
These reports triggered a couple of immediate reactions for me: (1) “Transactional” is a nice word for acting like a mob boss. And (2) the reports should ease Democratic anxieties about young people potentially deserting Biden; the younger generation is (quite properly) the population most concerned with climate change.
Even the New York Times–which has been the traditional news source most likely to normalize Trump’s behaviors– reported on the proposed “transaction.”
Former President Donald J. Trump told a group of oil executives and lobbyists gathered at a dinner at his Mar-a-Lago resort last month that they should donate $1 billion to his presidential campaign because, if elected, he would roll back environmental rules that he said hampered their industry, according to two people who were there.
The executives who attended were from ExxonMobil, EQT Corporation and the American Petroleum Institute, which lobbies for the oil industry. According to the Washington Post, the dinner was organized by oil billionaire Harold Hamm, who has for years helped shape Republican energy policies.
Mr. Trump has publicly railed for months against President Biden’s energy and environmental agenda, as Mr. Biden has raced to restore and strengthen dozens of climate and conservation rules that Mr. Trump had weakened or erased while in office. In particular, Mr. Trump has promised to eliminate Mr. Biden’s new climate rules intended to accelerate the nation’s transition to electric vehicles, and to push a “drill, baby, drill” agenda aimed at opening up more public lands to oil and gas exploration.
Over a dinner of chopped steak, Mr. Trump repeated his public promises to delete Mr. Biden’s pollution controls, telling the attendees that they should donate heavily to help him beat Mr. Biden because his policies would help their industries.
“That has been his pitch to everybody,” said Michael McKenna, who worked in the Trump White House but did not attend the event in Florida.
Mr. McKenna said the former president’s appeal to the fossil fuel industry could be summed up as: “Look, you want me to win. You might not even like me, but your other choice is four more years of these guys,” referring to the Biden administration. He added, “The uniform sentiment of guys in the business community is ‘We don’t want four more years of Team Biden.’”
When asked for comment, a Trump spokesperson attacked President Biden, accusing him of being controlled “by environmental extremists” and “forcing Americans to purchase electric vehicles they can’t afford.” Actually, although Biden has pursued a robust climate agenda, he has balanced climate concerns with accommodation of America’s energy needs.
Mr. Biden has frustrated the fossil fuel industry by pursuing the most ambitious climate agenda in the nation’s history. He has signed a sweeping law that pumps $370 billion into incentives for clean energy and electric vehicles and has enacted a suite of tough regulations designed to sharply reduce emissions from the burning of oil, gas and coal.
This year, the Biden administration paused the permitting process for new facilities that export liquefied natural gas in order to study their impact on climate change, the economy and national security.
But the fossil fuel industry has also enjoyed record profits under the Biden administration. Last year, the United States produced record amounts of oil. And even with the pause in new permits for gas export terminals, the United States is the world’s leading exporter of natural gas and is still on track to nearly double its export capacity by 2027 because of projects already permitted and under construction.
Mr. Biden has also approved several oil and gas projects sought by the fossil fuel industry.
He has authorized an enormous $8 billion oil development in Alaska known as the Willow project. He also granted a crucial permit for the Mountain Valley Pipeline, a project championed by Senator Joe Manchin III, a West Virginia Democrat, despite opposition from climate experts and environmental groups. Last month, undeterred by opposition from climate activists, the Biden administration also gave approval for an oil export project in Texas known as the Sea Port Oil Terminal.
That’s clearly not enough for our fossil fuel overlords, who may well accept the “deal” Trump is offering. As one wag posted on X (formerly Twitter):
A second Trump term may involve suspension of the Constitution, the purging of the civil service, and the military deployed in American streets. But what will it mean for gas prices?
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