Trump rewards oil industry donors, blocks renewable energy projects
How $450 million in fossil fuel donations shaped White House energy policy and dismantled climate progress.
The future did not look bright for Donald Trump in 2023. As the year ended, so did the testimony in the New York v. Trump Organization civil lawsuit. While Trump awaited his ($364 million) fate, he anticipated the start of another upcoming trial in Manhattan: The People of the State of New York v. Donald J. Trump.
However, Trump's fortunes started to change in January of 2024 when he won the Iowa caucus by record-breaking margins. Even so, Democrats surged ahead in campaign fundraising. As the Manhattan criminal trial approached, the Trump campaign, desperate for cash, turned to allies in the oil industry.
Trump begs oil billionaires to fund campaign
On April 11, 2024, Trump hosted a dinner and “roundtable discussion” for fossil fuel executives at his Mar-a-Largo estate. Over 20 industry executives attended, including Exxon, Chevron, and fracking billionaire Harold Hamm. According to multiple sources who attended the meeting and spoke to The Washington Post, Trump asked the oil industry to contribute a combined $1 billion to his presidential campaign.
In return for their financial allegiance, Trump vowed to enact policies to increase oil industry profits. He claimed the transaction would be a “deal” for fossil fuel executives, with the money saved through deregulation and tax cuts far exceeding $1 billion in campaign cash.
Trump’s Timeline of Corruption
March 30, 2023: President Donald Trump was indicted by a Manhattan grand jury in New York City on 34 counts of falsifying business records in the first degree.
March 12, 2024: Trump became the presumptive presidential nominee, despite numerous open investigations and skipping the primary debates.
April 11, 2024: Trump hosted a dinner and “roundtable discussion” for fossil fuel executives at his Mar-a-Largo estate.
April 15, 2024: The trial for The People for the State of New York v. Donald J. Trump began in Manhattan.
News of Trump’s shocking request sparked outrage from Democrats and watchdog groups for the clear quid pro quo in which Trump promised policy favors in exchange for donations.
In an interview with The Guardian, Senator Sheldon Whitehouse said, “The quid pro quo is evident. I can’t think of anything that matches this in terms of the size of the bribe requested or the brazenness of the linkages.” While campaign finance experts agreed Trump’s $1 billion ask was troubling, they also thought it was probably legal.
House Democrats launched an investigation into the Mar-a-Largo meeting with oil executives, calling it “the definition of corruption.” Senator Whitehouse and Senator Ron Wyden, along with Representative Jamie Raskin, led an inquiry. In letters sent to oil executives and lobbyists on May 13 and May 23, 2024 Democrats demanded details of their meeting with Trump. But investigators struggled to collect enough information to make a case as election season entered full swing.
May 30, 2025: After nine weeks of testimony, a jury found Trump guilty of 34 felony counts of falsifying business records to interfere with the 2016 election.
In response to Democrats’ letters, oil and gas executives provided inaccurate claims and immaterial excuses for not fully cooperating with the investigation. Notably, they did not refute the allegations of campaign finance violations.
Ultimately, the investigation did not move forward before the 2024 election.
Big oil back Trump, big
Trump did not receive the full $1 billion he sought, but the oil industry heavily invested in his campaign. In the 2024 election cycle, the oil industry spent approximately $450 million on political contributions to support Trump and the 119th Congress, according to a recent report from Climate Power.
$243 million on lobbying Congress
$96 million on direct contributions to Trump
$80 million on advertisements for Trump and Republicans
$25+ million to GOP down-ballot races
Heading into the 2024 election, fossil fuel billionaires were desperate to dismantle President Biden's climate agenda. Although they saw record profits under Biden’s presidency, executives consider his clean energy initiatives an attack on their business model. Trump, a longtime climate denier, vowed to immediately reverse dozens of Biden’s most “threatening” environmental and climate protection policies.
Significant policy favors Trump promised his oil donors included:
End offshore wind development via executive order from day one.
Cut corporate taxes and revoke environmental penalties.
Relaxed Federal Trade Commission (FTC) scrutiny of oil company mergers.
Expeditated approvals on pipeline and power plant infrastructure projects.
Trump was happy to frame the policy favors he promised fossil fuel donors into effective campaign messages. For the rest of the 2024 election, Trump attacked clean energy and spread false claims to smear Biden and Harris’s energy policy success.
Trump takes office, delivers on promises
Immediately after taking office, Trump rewarded his donors by signing an executive order declaring a national energy emergency. There is no legal precedent about what constitutes a national emergency or when the president can declare one. So, the Trump regime justified its emergency declaration on the need to reduce foreign energy dependence, increase domestic fossil fuel production, and counteract "overregulation" imposed by Biden.
In summary, the order intends to increase domestic fossil fuel production and expedite the approval of oil leasing, drilling, refining, and transport initiatives.
Trump has taken at least 33 executive actions to roll back climate regulations, as of April 1, 2025. Some actions are notable for their clear evidence of payback to the oil industry as promised in return for “$1 billion," including:
Discontinued federal wind power leases
Approved drilling in protected Alaskan and offshore waters.
Lifted the pause on natural gas export permits.
Rolled back EPA emissions standards.
Left the Paris Climate Agreement (again).
Trump’s rollback of climate regulations follows a clear pattern: donor payback. His administration’s push to expand fossil fuel production isn’t just an economic strategy—it’s a direct payoff to the industry donors who funded his campaign. By dismantling environmental protections, fast-tracking oil and gas projects, and abandoning global climate commitments, Trump has prioritized fossil fuel interests over climate action, public health, and long-term energy sustainability.
The ripple effects of corruption
Fossil fuel corporations embrace corruption as a business strategy. The billionaire “Oli-garchy” exerts a destructive influence on US energy, climate, and economic decisions, corrupting policies for profit.
Even as the damages caused by burning oil, gas, and coal accelerate the climate crisis, Big Oil funnels billions into corrupting politicians and public perception to protect its business model. To the detriment of the planet from which it extracts its revenue, the fossil fuel industry engages increasingly corrupt strategies of campaign funding, media manipulation, and corporate exploitation.
Campaign funding or corporate capture?
Federal campaign finance laws originated to impose limits on corporate donations, so that candidates could not trade policy favors for campaign cash. However, the campaign finance system changed in 2010 when the Supreme Court ruled in favor of Citizens United.
The landmark decision allows corporations to donate unlimited contributions to SuperPACs—which can donate unlimited contributions to candidates. In addition to corporations, the ruling extends to special interest groups, trade associations, and individual donors.
This type of funding, called “outside spending,” now dominates the campaign finance landscape. According to data from OpenSecrets, over the last four presidential election cycles, outside spending skyrocketed from around $1 billion to nearly $4.4 billion in 2024—a nearly fivefold increase since 2012.
The oil and gas industry is among the largest sources of outside spending in US elections, using this system to buy political influence and favorable policies. In 2024, the oil and gas industry represented the eighth largest source of outside spending in US elections. The industry disclosed over $162.2 million in campaign contributions, $90.3 million from organizations, and $71.8 million from individuals.
See more on the reporting rules regarding outside spending.
Not all outside spending organizations disclose their donors. The spending figures cited are what the oil and gas industry reported; it does not account for all spending, like dark money, which does not require disclosure.
Dark money floods the zone
Dark money fuels misinformation and obstructs the clean energy transition. Enabled by Citizens United, anonymous donors funnel millions through Super PACs and nonprofit groups to shape public perception without disclosing their identities.
As OpenSecrets explains, “politically active nonprofits such as 501(c)(4)s [Super PACs] are generally under no legal obligation to disclose their donors even if they spend to influence elections. When they choose not to reveal their sources of funding, they are considered dark money groups.”
During the 2024 election, the oil industry leveraged this system to flood media markets with ads promoting fossil fuels and attacking Biden and Harris’s energy policies. These ads often contained misleading claims about renewable energy, distorting public debate.
With no immediate disclosure about who is funding it, dark money prevents voters from understanding who is truly behind many political messages. The unchecked flow of dark money in U.S. elections ensures that misinformation—not facts—dominates the energy debate.
Media manipulation spreads climate misinformation
The flood of dark money into elections enables the spread of climate misinformation. Fossil fuel-backed groups have spent millions shaping public perception, often obscuring the realities of climate change and clean energy.
Notable ad campaigns funded by Big Oil in the 2024 election include:
The American Petroleum Institute spent eight figures on its Lights On Energy campaign, promoting fossil fuels as essential to economic stability.
Americans for Prosperity launched a seven-figure ad push in May 2024, advocating for reduced energy regulations as the key to “energy abundance” and lower consumer costs.
American Fuel and Petrochemical Manufacturers funded a $6.6 million ad blitz attacking Biden’s energy policies.
Beyond distorting the renewable energy debate, dark money donations threaten the integrity of the democratic process itself. Climate misinformation, fueled by industry-backed interests, plays a crucial role in policy decisions—especially under leaders like Donald Trump.
Trump worries wind farms drives whales crazy
Trump has a long history of climate denial, dismissing global warming as “one of the great scams of all time.” He has falsely claimed the planet is cooling and attacked wind energy as “bullshit” and “horrible.” His climate denialism influenced policy in his first term, leading to US withdrawal from the Paris Climate Agreement, weakened emissions standards, and expanded fossil fuel leasing on federal lands.
Now, in his second term, Trump continues to reaffirm false claims of a “climate hoax” while pushing the false narrative that climate policies harm the economy. During the 2024 campaign, he labeled oil and gas “liquid gold” and accused Biden of waging a “war on American energy”—despite record-high U.S. fossil fuel production. His rhetoric, amplified by dark money-funded campaigns, reinforces the fossil fuel industry’s grip on public discourse and policymaking.
Corporate exploitation fuels profits, destroys climate
Under President Biden, the U.S. shattered oil production records, pumping more crude oil than any country in history, ever. According to the U.S. Energy Information Administration (EIA), the nation has led global oil and gas production for six consecutive years. Yet, the fossil fuel industry still pushed back against Biden’s temporary pause on new drilling permits, arguing it threatened their bottom line.
While oil and gas output hit unprecedented levels in 2023, corporate profits dipped from their 2022 highs.
In 2023, Exxon reported $36 billion in earnings; down from $55.7 billion in 2022.
In 2023, Chevron reported $21.4 billion in profit; down from $35.4 billion in 2022.
This decline wasn’t due to reduced production but rising costs driven by global inflation. However, the industry misleadingly blamed Biden’s policies for its weaker financial performance.
Final Points
The $450 million investment by oil executives in Trump's campaign wasn’t a donation—it was a business transaction.
Campaign Finance: When policy decisions directly follow campaign contributions, the government becomes a marketplace rather than a representative institution.
Media manipulation: The flood of dark money in elections—ballooning to $4.4 billion in 2024—has weaponized misinformation. When fossil fuel interests can anonymously dominate ads markets facts become casualties in the energy debate.
Corporate exploitation: Fossil fuel billionaires saw a collective wealth increase of $3 billion following Trump’s inauguration, according to Time. In the end, this is the real quid pro quo.
Oil companies view political influence as simply another business expense with an exceptional return on investment: drilling permits, weakened regulations, tax cuts, and suppressed renewable competition. Executives and billionaire donor’s strategic corruption transforms public resources into private profits while socializing climate costs. The fossil fuel industry's approach isn't ideological—it's transactional.
Why an informed citizenry matters
Breaking this cycle begins with an informed public. By following journalism that tracks dark money, sharing evidence of industry influence, and supporting transparency initiatives, citizens can reclaim democratic power from corporate interests.
The future of American energy policy shouldn't be decided in closed-door meetings at Mar-a-Lago. It should reflect the best scientific understanding, long-term economic interests, and democratic will of the American people.
It's time to stop the Oil-garchy from influencing elected leaders—democracy and the planet depend on it.
What do you think? Leave a comment below!
References
Anchondo, C. (2024, September 17). 3 questions answered about Biden’s LNG pause. E&E News by Politico. www.eenews.net/articles
Brady, J. (2025, January 22). Trump's energy emergency is a gift to fossil fuel firms. It's likely headed to court. NPR. www.npr.com/article
Climate Power. (2025, January 21). Big Oil Spent $450 Million To Influence Trump & The 119th Congress. Climate Power. www.climatepower.us/research
Climate Power. (2024, June 20). Trump promises and payments tracker. Climate Power. www.climatepower.us/research-polling
Collins, C. (2025, January 15). Fossil Fuel “Oil-Garchs” Reap Billions in Payback for Trump Support. Inequality.org. www.inequality.org/article
House Committee on Oversight and Reform Democrats. (2024, September 10). New bicameral letters Democrats demand big oil executives comply investigation. [Press Release]. www.oversightdemocrats.house.gov/press-release
Kirk, K. (2025, January 3). The fossil fuel industry spent $219 million to elect the new U.S. Government. Yale Climate Connections. www.yaleclimateconnections.org/article
Lefebvre, B. (2022, November 2). The oil and gas paradox threatening Biden’s party at the polls. Politico. www.politico.com/article
Lefebvre, B. (2024, March 27). The ‘all of the above’ energy success that’s causing Biden headaches. Politico. www.politico.com/news
Lefebvre, B. (2024, May 9). Trump pressed oil executives to give $1 billion for his campaign, people in industry say. Politico. www.politico.com/article
Lefebvre, B. (2024, May 8). “A little bold and gross”: Oil industry writes executive orders for trump to sign. Politico. www.politico.com/article
Milman, O. (2024, October 18). Trump gets record donations from Big Oil but far less than $1bn he wanted. The Guardian. www.theguardian.com/article
Noor, D. (2024, October 1). Trump continues to deny climate crisis as he visits hurricane-ravaged Georgia. Politico. www.theguardian.com/news
Reed, S. (2024, February 3). Oil Giants Pump Their Way to Bumper Profits. The New York Times. www.nytimes.com/article
Schneid, R. (2025, January 22). Fossil Fuel Billionaires Boost Wealth by $3 Billion After Trump’s Inauguration. Time Magazine www.time.com/article
Sierra Club. (2025, March 19). Following huge campaign contributions Trump meets oil gas executives. www.sierraclub.org/press-releases
Stone, P. (2024, June 3). Trump’s $1bn pitch to oil bosses ‘the definition of corruption’, top Democrat says. The Guardian. www.theguardian.com/article
Walker, C. (2025, January 22). Big Oil Spent $445 Million to Influence 2024 Elections. Truthout. www.truthout.org/article
White House. (2025, January 20). Declaring a national energy emergency. www.whitehouse.gov/executive-order
That was really good!
Meanwhile, oil prices are tanking because of the shitheads policies. Prices are so low now that it doesn't pay for them to drill.