Report: Trump Promised to Reverse Biden Environmental Rules in Exchange for $1B Reelection Pledge From Top Oil Executives

According to a new report by The Washington Post, last month at his private Mar-a-Lago club Donald Trump bluntly proposed a “deal” to more than 20 oil executives from some of the largest oil companies in the United States, suggesting they donate $1 billion to his presidential re-election campaign.

In exchange, Trump promised that once he was back in office, he would immediately reverse dozens of environmental regulations implemented during President Joe Biden’s presidency and prevent the passage of any new ones.

The offer followed one oil boss’ complaint about how — even though oil executives had contributed $400 million in the past year to lobby the Biden administration — the sector was still facing environmental rules that hampered operations.

Trump said the $1 billion gift from the petroleum CEOs — which included those of Exxon, Chevron and Continental Resources — would be considered a “deal,” considering the regulation and taxes the companies would be avoiding, people privy to the meeting said on condition of anonymity, as The Washington Post reported.

Trump is “putting the future of the planet up for sale,” Christina Polizzi, Climate Power’s deputy managing director of communications, told The Guardian. “He is in the pocket of big oil – he gave them $25bn in tax breaks in his first term – and now it’s clear he is willing to do whatever big oil wants in a potential second term.”

Meanwhile, the Biden administration has overturned 27 of Trump’s actions related to the fossil fuel industry, a Washington Post analysis said, and has been racing to implement new ones ahead of the November election.

Despite Biden’s policies, the U.S. produces more oil than any nation in history — an average of almost 13 million barrels per day in 2023.

Trump promised to immediately stop Biden’s permit freeze on new exports of liquefied natural gas, The Washington Post said.

“You’ll get it on the first day,” Trump said, according to a meeting attendee.

Trump also told the CEOs that he would resume more auctions of Gulf of Mexico oil drilling leases, as well as reverse Alaskan Arctic oil drilling restrictions.

“You’ve been waiting on a permit for five years; you’ll get it on Day 1,” Trump told them, the attendee recalled, as reported by The Washington Post.

Trump promised to get rid of Biden’s electric vehicle (EV) “mandate” — referring to recent rules finalized by the U.S. Environmental Protection Agency that require automakers to reduce tailpipe emissions, rather than calling for a specific technology like EVs.

“Donald Trump is selling out working families to Big Oil for campaign checks. It’s that simple,” said Ammar Moussa, Biden campaign spokesperson, in a statement, as The Washington Post reported. “It doesn’t matter to Trump that oil and gas companies charge working families and middle-class Americans whatever they want while raking in record profits — if Donald can cash a check, he’ll do what they say.”

Climate Power senior oil and gas adviser Alex Witt said that with Trump “everything has a price. They got a great return on their investment during Trump’s first term, and Trump is making it crystal clear that they’re in for an even bigger payout if he’s reelected.”