The (enormous) differences in views on energy policy between Biden and Trump are there for all to see but now an analysis by OpenSecrets definitively establishes that Donald Trump is the oil industry's undisputed candidate for the Republican presidential nomination: the energy sector “pushes” his candidacy by donating an amount of money almost 10 times higher than that of his challenger Nikki Haley. Not only that: the oil bigs ignore Biden even though with him their oil production and their profits have reached historic heights: they donated only 635,000 dollars to the incumbent president's election campaign while 7.37 million dollars to Trump's.
In short, it is now certified that the oil and gas industries are among the main industries financing Trump's race and a fundamental source of money for his candidacy to return to the White House. And that wasn't a given until recently because just last summer, as Trump faced a crowded field of challengers, the oil industry was showering money on his rivals, including Haley, Florida Gov. Ron DeSantis and many still others. But as Trump rose in the polls, donors lined up in support of the former president.
The sensational thing is that while Make America Great Again Inc. – the super political action committee that supports the Republican leader – effectively becomes the representative of the oil companies, then if you analyze the data, you discover that US production and exports of oil and gas have surged dramatically under the Biden administration, with the nation producing a record 13.3 million barrels of crude per day in November, up from about 11 million barrels per day in 2020 before the president would take office… Oil and gas exports also increased, with the country shipping nearly double the amount of natural gas abroad last year compared to 2020, before Biden was elected.
Evidently it was not enough because Biden's energy policy (which tried to take away the scepter of power from the Arab countries) weighed heavily on the decisions of the oil companies because then it is evident that Biden is the president who has done more than any other number one in the United States to address climate change and promote renewable energy.
But not only that: oil industry leaders say their sector's recovery occurred despite Biden's policies, not because of them. And they point to measures encouraging the sale of electric vehicles, taxes on methane emissions and a restrictive plan for the sale of new drilling rights in the Gulf of Mexico as future dangers for their business. And since all these policies would surely be revised with a Republican president (Trump pledged to “drill, baby, drill” on his first day in office) here is the result.
On the other hand, it is a film already seen: during his first term the Donald rejected Obama-era regulations that aimed to reduce industrial pollution. But not only that: Trump also pushed the Organization of the Petroleum Exporting Countries to increase production and blocked new offshore oil leasing near southeastern US states in a bid to woo voters ahead of the 2020 election. In short, to be clear, Trump's policy does not fight electric cars but does favors for the oil industry. A very different thing.
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