U.S. President Donald Trump’s partnership with the fossil fuel industry is well-noted, from appointing oil executives for cabinet roles to increasing prices for American consumers to support the fossil fuel industry.
The world’s six or seven largest publicly traded and investor-owned oil and gas companies, famously known as Big Oil, spent an astounding $445m throughout the 2024 election cycle to influence Donald Trump and Congress, a shocking analysis has revealed.
Those funds were used between January 2023 and November 2024 for lobbying, political donations and advertising to back elected officials and particular agendas. Due to the fact that it does not include donations channeled through dark-money groups, which do not have to disclose their donors, states the report from green advocacy group Climate Power.
How much did Big Oil spend to support Trump?
Fossil fuel corporations contributed $96 million to Donald Trump’s re-election bid and associated political action committees, the report uncovered. The majority of that was covered by megadonor oil billionaires, such as the pipeline mogul Kelcy Warren, the fracking magnate Harold Hamm and the drilling tycoon Jeffery Hildebrand.
Several other contributions came from little-known oil and gas companies, including fossil fuel-trading hedge funds, mining corporations and the companies that produce offshore drilling vessels and fuel tanks.
What role did oil lobbyists play in Trump’s policies?
Moreover, Fossil fuel firms and their trade groups spent an additional $243m lobbying Congress. It is likely that those donors will benefit from preferences set by Senate-confirmed Trump cabinet appointees, such as Chris Wright, the fracking CEO who was selected as head of the Department of Energy, and Lee Zeldin, the ex-New York representative who has received more than $400,000 in campaign contributions from fossil fuel companies and who is appointed as Administrator of the U.S. Environmental Protection Agency.
Furthermore, Big Oil also poured $80m into advertising to defend their interests. That includes advertisements run in swing states, such as one from the refining lobbying firm American Fuel & Petrochemical Manufacturers, which campaigned against Joe Biden’s pro-electric automobile approaches, or another eight-figure ad blitz from leading US oil lobbying firm the American Petroleum Institute that enabled the notion that fossil fuels are “vital” to the world’s energy security.
Also, oil and gas firms and trade groups paid more than $25m on Republican down-ballot campaigns, including $8m on Senate fights, $16m on House races and more than $500,000 on GOP gubernatorial nominees.
What are the climate risks of Trump’s pro-oil stance?
In the long run, these contributions may “likely to pay dividends,” the report states, with Republicans in charge of the White House, House and Senate – as well as some critical states. Trump has launched dozens of pro-fossil fuel administrative actions on his first day in office and is likely to pursue a vast collection of others with collaboration from Congress.
In light of this, the US must “free ourselves from Big Oil’s grip and invest in the clean energy of the future”, the Climate Power report states.
It was Trump’s campaign promise to “drill, baby, drill”, remove limitations on the already roaring fossil fuel industry and reverse Biden’s climate approaches. “We have something that no other manufacturing nation will ever have, the largest amount of oil and gas of any country on Earth, and we are going to use it,” Trump stated in his inaugural address. “We will be a rich nation again, and it is that liquid gold under our feet that will help to do it.”
