Congressional Democrats have taken aim at the oil industry once again. This time, they are conducting an investigation into the promises made or received by executives during a dinner with former President Donald Trump. It was during this dinner that Trump requested $1 billion in campaign donations from the industry.
In recent weeks, Democrats have launched a series of investigations into the oil industry, with Senate Budget Chair Sheldon Whitehouse (D-R.I.) and Senate Finance Chair Ron Wyden (D-Ore.) sending letters to nine oil companies and industry trade associations. This move comes at a time when oil company executives have begun to financially support Trump’s campaign against President Joe Biden, adding a heightened political dimension to the ongoing battle between Democrats and the oil industry.
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The committees have reached out to Chevron, Exxon Mobil, Continental Resources, Chesapeake Energy, Occidental Petroleum, Venture Global LNG, Cheniere Energy, EQT Corp., and trade association American Petroleum Institute. They are seeking information on whether these companies had conversations about potential policies that would benefit the industry in a second Trump administration, in exchange for financial support.
The senators are also seeking details about policy-related documents that industry lawyers may be prepared to provide to Trump for his signature if he returns to the Oval Office. This issue was initially reported by POLITICO.
The senators express their concerns about a clear exchange of policies for money, which they believe reflects cronyism and corruption. They emphasize the need for further investigation, particularly in light of reports suggesting that fossil fuel interests and other companies have been involved in drafting language for executive orders that would benefit their businesses in the event of a potential second Trump Administration.
According to API spokesperson Andrea Woods, the recent actions taken in relation to the election are merely distractions from the pressing need for increased energy production in the United States. Woods claims that the country requires more oil and natural gas to fuel the economy and address ongoing inflation concerns. It is stated that API regularly engages with candidates and policymakers to advocate for responsible energy policies, and this meeting was consistent with those efforts.
On Thursday, additional letters were sent by Frank Pallone (D-N.J.), the ranking member of the House Energy & Commerce Committee. These letters were a continuation of the investigation initiated by Pallone after the Federal Trade Commission accused the former CEO of Pioneer Natural Resources, a company currently owned by Exxon, of attempting to collude with rival companies and OPEC to manipulate oil production levels and maintain high prices. Pallone’s letters sought information from Exxon, Chevron, and other industry entities regarding their potential communications with OPEC+ officials.
Democrats on the House Natural Resources Committee are calling on Chair Bruce Westerman (R-Ark.) to initiate an investigation into the collusion allegations as well.
On Wednesday, Whitehouse and Rep. Jamie Raskin (D-Md.) made a request to the Department of Justice. They asked for a review of the information collected by Congressional Democrats. The information shows the industry’s misleading tactics in regard to the effects of their products on climate change and their purported plans to address it.
According to Tyson Slocum, the energy program director at Public Citizen, a progressive good governance advocacy group, the timing of Democrats intensifying their scrutiny of the oil industry while executives are making significant contributions to Trump’s reelection campaign may not be a mere coincidence.
According to Slocum, the recent investigations align with both policy and politics.
“You got the FTC showing attempts at collusion with OPEC,” Slocum continued. “That’s a scandal. You got Trump saying in front of tons of people ‘If you give me a billion dollars, I’m going to give you everything you want,’ the Democrats need to investigate this. If Democrats can land a few punches with an accurate narrative that Big Oil colluded with Saudi Arabia and is buying favors from Donald Trump, I think that’s good politics.”
