President Trump stands ready to send U.S. Big Oil into Venezuela en masse, but the messy reality of rebuilding a ruined industry takes many years

    https://fortune.com/2026/01/06/trump-ready-send-big-oil-venezuela-reality-messy-many-years/

    Posted by fortune

    5 Comments

    1. RedditReallySuxx on

      Donald Trump has received many millions of dollars in support from the oil and gas industry over multiple election cycles, with especially heavy backing in his 2024 comeback campaign. These donations come both as direct contributions and much larger sums routed through super PACs and outside spending groups.[1][2][3][4]

      ## 2024 election cycle

      – Climate Power estimates that oil and gas–linked donors spent about **96 million dollars** in “direct donations” to support Trump’s 2024 presidential bid and his super PACs from January 2023 through November 2024.[1]
      – The same analysis reports nearly **80 million dollars** in pro‑Trump and pro‑Republican advertising funded by fossil‑fuel interests during that cycle.[1]
      – A New York Times review found that individuals and entities tied specifically to oil and gas interests gave **more than 75 million dollars** to Trump‑aligned PACs in the 2024 race, with major checks from executives at firms such as Continental Resources, Energy Transfer, Hilcorp and others.[2]

      ## Direct industry contributions

      – OpenSecrets’ industry breakdown for 2023–2024 lists Trump as the **top federal recipient** of contributions from the oil and gas industry, with about **2.1 million dollars** reported in direct, regulated contributions (campaign plus leadership PAC), which excludes most super‑PAC money.[5][3]
      – OpenSecrets’ broader “Top Industries” breakdown for Trump’s 2024 campaign also shows oil and gas among his largest donor industries, reflecting a strong partisan tilt of that sector toward Republicans.[3][6]

      ## Super PAC and dark‑money support

      – Trump’s main super PAC, MAGA Inc., has raised nearly **200 million dollars** in one recent reporting period, with a substantial share of large checks coming from donors connected to fossil fuels and related energy infrastructure.[4]
      – Reporting indicates that Trump privately urged oil executives at Mar‑a‑Lago in 2024 to collectively raise **1 billion dollars** for his campaign, framing it as a “deal” compared with the taxes and environmental regulations he pledged to roll back.[7][8][2]

      ## What “oil company donations” means in practice

      – Much of this money does not come as corporate checks from oil companies directly to Trump’s campaign, which federal law restricts, but rather from **company executives, owners, and associated PACs** who work in oil, gas, and related services.[9][2][3]
      – Industry spending also includes **lobbying and issue‑advocacy ads** that are not counted as direct campaign donations but are aimed at influencing elections and policy in Trump’s favor.[3][1]

      Sources
      [1] NEW REPORT: Oil and Gas Industry Spent $450 Million to Influence … https://climatepower.us/news/new-report-oil-and-gas-industry-spent-450-million-to-influence-trump-and-the-119th-congress/
      [2] Oil Interests Gave More Than $75 Million to Trump PACs, New … https://www.nytimes.com/2024/11/01/climate/oil-gas-donations-trump.html
      [3] Oil & Gas Summary – OpenSecrets https://www.opensecrets.org/industries/indus?ind=E01
      [4] Unprecedented Big Money Surge for Super PAC Tied to Trump https://www.brennancenter.org/our-work/analysis-opinion/unprecedented-big-money-surge-super-pac-tied-trump
      [5] Oil & Gas Recipients – OpenSecrets https://www.opensecrets.org/industries/recips?ind=E01++
      [6] Top Industries, federal election data for Donald Trump, 2024 cycle https://www.opensecrets.org/2024-presidential-race/donald-trump/industries?id=N00023864
      [7] Fossil Fuel Industry Donors See Major Returns in Trump’s Policies https://www.brennancenter.org/our-work/analysis-opinion/fossil-fuel-industry-donors-see-major-returns-trumps-policies
      [8] Candidate Trump Promised Oil Executives a Windfall. Now, They’re … https://www.nytimes.com/2025/07/30/climate/trump-campaign-funding-oil-industry-tax-breaks.html
      [9] Oil & Gas PACs contributions to candidates, 2023-2024 – OpenSecrets https://www.opensecrets.org/political-action-committees-pacs/industry-detail/E01/2024
      [10] Trump’s super PAC builds $300 million cash stockpile, fueling … – CNN https://www.cnn.com/2026/01/02/politics/trump-super-pac-maga-inc-fundraising

    2. Prize-Grapefruiter on

      doesn’t matter. the free petrol in that country is 6 times the amount that the USA has. I’m sure greed will win.

    3. Prize-Grapefruiter on

      doesn’t matter. the free petrol in that country is 6 times the amount that the USA has. I’m sure greed will win.

    4. PianoPatient8168 on

      We’ll have a new President by the time they get anything up and running and then the new President will pull us the fuck out of there. So we’ll just waste time, money and lives in the meantime.

    Leave A Reply
    Share via