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The US oil and gas industry supports former President Trump. (Source: AP) |
According to data collected by OpenSecrets, pro-Trump campaign groups in the energy and natural resources sector donated $7,365,208 to Trump, compared to just $807,233 to Haley and just $634,736 to President Biden’s campaign.
Bloomberg News noted that in 2023, some oil and gas industry donors — such as shale pioneer Harold Hamm — donated to both Haley and Florida Governor Ron DeSantis, because they did not believe Trump had a chance of winning.
However, oil industry donors began donating more money to Mr. Trump in the second half of 2023.
Meanwhile, the US oil and gas industry has not increased donations to President Biden's campaign, even though US oil and gas production has reached record highs during his term.
Oil and gas production and exports of petroleum and liquefied natural gas (LNG) from the world's largest economy boomed last year, but most industry insiders say this is not due to the Biden administration's policies.
Methane emissions regulations and a pause on new permits for LNG export projects are some of the latest issues the US oil and gas industry has criticized the Biden administration for.
Oil industry associations have frequently accused President Biden’s energy policies of being “hostile” to the US oil and gas industry and undermining the country’s economy and jobs.
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