Oil billionaires bet on Trump’s energy agenda

livemint.com:

As Donald Trump accepted the GOP presidential nomination last Thursday, he reminded the megawealthy coterie of oil tycoons backing him why he is their man. “We have more liquid gold under our feet than any other country by far, we are a nation that has the opportunity to make an absolute fortune with its energy," Trump said during his prime-time address. The speech was music to the ears of oil billionaires Harold Hamm of Continental Resources, Kelcy Warren of Energy Transfer, Jeffery Hildebrand of Hilcorp, and George Bishop of GeoSouthern Energy.

Since March, they, together with their spouses and companies, have contributed at least $9.9 million to Trump-aligned committees and the Republican National Committee, according to Federal Election Commission data. Those donations make the magnates among some of Trump’s biggest donors and represent an increase from past election cycles. Their contributions and those of another oil billionaire, Tim Dunn of CrownRock, topped $16 million since October, compared with the more than $20 million the tycoons donated to fund Trump’s 2016 and 2020 bids combined.

Energy policy is shaping up as a key campaign issue. Some of Trump’s allies immediately attacked Vice President Kamala Harris’s energy record this week as she moved to nail down the Democratic nomination following President Biden’s withdrawal from the race. Harris previously backed a ban on fracking as a presidential candidate in 2019, but was also part of a Biden administration that presided over record oil production.