Trump tries to shake down oil industry

Yssup Rider's Avatar
Yea, so FJB. Oil prices will be $200 bbl if he keeps it up and the economy will be more upside down than ever. People couldn’t afford pussy because it cost too much to drive there and the hookers will be charging $2000 Originally Posted by 500sl
Hope you didn’t choke on that kool aid, bruh.

Nothing at all to indicate that has happened or will happen. Just the paranoid delusions of whichever MAGA blogger you rely on for your info.
According to the Post, Trump reportedly promised oil executives to end Biden's halt on permits for new liquefied natural gas (LNG) exports, three people present when the comment was made, said. "You'll get it on the first day," Trump reportedly said, according to one dinner attendee.


On Biden's first day in office in 2021, he reinstated or strengthened over 100 environmental regulations that Trump weakened or removed during his tenure. The Biden administration has been working to roll out 10 new environmental rules including increasing the cost for Big Oil to drill on public lands. Originally Posted by VitaMan
These are all good things. Gasoline hovering near $4/gal is horrible for the average consumer.
Yssup Rider's Avatar
These are all good things. Gasoline hovering near $4/gal is horrible for the average consumer. Originally Posted by CreatedInSpace
Except they’re not.
VitaMan's Avatar
This shows how Trump operates, and what he cares about.
Except they’re not. Originally Posted by Yssup Rider
You’ll have to explain how an anti-energy agenda is good for the citizenry for that to have any validity.

This shows how Trump operates, and what he cares about.
It shows how political campaigns operate. Do you think Biden isn’t getting big checks from industries that would benefit from his political positions? Clearly giving people the ability to heat their homes and fuel their cars without spending half their paychecks is to their advantage, AKA caring about them.
  • Tiny
  • 05-12-2024, 04:46 PM
Former President Donald Trump asked oil industry executives last month to donate $1 billion to aid his campaign to retake the White House, three people familiar with the conversation told POLITICO — a request that campaign finance experts said appeared troubling but is probably legal.


The oil industry has a long list of policy actions it would want Trump to take, including dismantling parts of President Joe Biden’s green agenda and rolling back pollution regulations that threaten to crimp their profits. Oil executives are also preparing some highly specific requests for Trump, including executive orders they hope he would sign if reelected.


At the very least, the $1 billion ask points to problems with laws governing money in politics, said Erin Chlopak, senior campaign finance director at the watchdog group Campaign Legal Center.


Trump’s request is “shocking,” said an oil executive. Originally Posted by VitaMan
It's very possible Trump was just pointing out the obvious, not agreeing to grant favors in return for campaign donations. Biden campaigned in 2016 on banning drilling on federal leases. He said he'd stop issuing new leases, but who's going to apply for a lease anyway if you can't drill on it. He also said he'd put the U.S. on the path to eliminating or massively shrinking its domestic oil and gas industry, although he certainly didn't expect to accomplish that during his first term.

And Biden followed through by suspending issuance of drilling permits on federal leases, and issuance of leases period, on his first day in office.

Then the justice system and reality intervened. The price of gasoline increased from $2.40 per gallon when he took office to $3.00 by early May, 2021, and peaked at $5.00 in June, 2022. Biden not only was going to be stymied by the courts, but his positions became political suicide. So he backed off, and incredibly started criticizing the oil and gas industry for not drilling enough wells! That's even though he intends to put the industry on the road to extinction! Every heard of stranded assets Joe?

Biden is now shrewder. He has implemented changes in EPA fuel efficiency requirements that will largely force internal combustion vehicles off the road, but they won't kick in gear until after the 2024 election. He's also suspended issuance of permits for new LNG facilities. Since the lead times are very long for building LNG infrastructure, this would appear to be a shrewd move, catering to the green lobby without costing jobs before the election. However, it may lose him Pennsylvania's electoral votes.

Finally Deb Haaland is worth a mention. Maybe she would have been a great head of the Bureau of Indian Affairs, but her main qualification for Secretary of the Interior was that she's an anti-pipeline protester and full supporter of Elizabeth Warren's energy platform, including banning fracking. She was responsible for suspending issuance of drilling permits and leases.

No wonder oilmen support Trump. Trump's biggest supporter in the industry is Tim Dunn of Crownquest, a Permian Basin producer, who has pumped $5 million into Trump PAC's. The others are relative pikers though. George Bishop with Geo Southern Energy put in $1 million, and Kelcy Warren, who owns midstream businesses, comes in at number 3 with $850,000.

That said, Dunn in my view is giving money to Trump more to support a conservative social agenda than safeguard the domestic oil and gas industry, although the later matters to him too. Now that he's got a deal to sell out to Occidental Petroleum and exit the oil and gas business, he doesn't have much of a financial incentive to back Trump.

There's no way that Trump gets anywhere close to $1 billion from oil and gas though. Biden may get more from venture capital and other contributors with green energy interests than Trump gets from fossil fuels.

One caveat, Trump's going to get a lot of small dollar contributions from the 11 million Americans workers directly and indirectly dependent on oil and gas for their jobs. Biden, Warren, Sanders, AOC et al represent an existential threat to them. I still don't think that gets Trump to $1 billion.
  • Tiny
  • 05-12-2024, 04:50 PM
It shows how political campaigns operate. Do you think Biden isn’t getting big checks from industries that would benefit from his political positions? Originally Posted by CreatedInSpace
Absolutely he is. The Biden Administration's biggest contributors fall into two categories:

1. Venture capital and other fund managers that may benefit from (a) the green pork he's handing out and (b) the carried interest treatment of manager's performance fees.

2. Unions


https://data.usatoday.com/2024-presi...024/?ref=biden
VitaMan's Avatar
You’ll have to explain how an anti-energy agenda is good for the citizenry for that to have any validity.


It shows how political campaigns operate. Do you think Biden isn’t getting big checks from industries that would benefit from his political positions? Clearly giving people the ability to heat their homes and fuel their cars without spending half their paychecks is to their advantage, AKA caring about them. Originally Posted by CreatedInSpace

No complaining expected later then.
Can anyone imagine biden doing just a few of the things the orange clown does? The maga's would go wild setting up investigations.

Big oil recorded record losses under trump and recorded record profits under biden. And big oil does not write laws for biden
500sl's Avatar
  • 500sl
  • 05-13-2024, 11:48 AM
yes, under inflation, the rich get richer and the poor go broke. That is what is happening now. At some point, folks will not be able to buy gas for their car or get groceries because of the cost to market. Then they take our guns away and we are done. Fuck Joe and his bitches
No complaining expected later then. Originally Posted by VitaMan
Complaining about what?