Texas Oil Tycoons Funnel Millions Into Trump’s Campaign To Boost Fossil Fuels

Texas oil billionaires have donated millions of dollars to Donald Trump’s campaign, in what seems a push to keep fossil fuels a top priority if the Republican manages to win the election.

According to data from Open Secrets, Texas oil billionaires Tim Dunn and Kelcy Warren have donated $5 million each to Trump’s campaign.

According to the Houston Chronicle, Texas billionaires are targeting Democratic policies such as a $7,500 tax credit for electric vehicles, tougher emissions standards on cars and trucks, and incentives for homeowners to prioritize electric models instead of gas appliances.

Trump has also attacked President Joe Biden’s climate and energy policies, saying he would increase oil and gas production in Texas and elsewhere.

However, many Republicans in red states have expressed support for Biden policies, particularly the Inflation Reduction Act, which has brought billions in federal funding in Republican states.

In August, 18 Republicans in the House, wrote a letter to Speaker Mike Johnson saying that repealing the clean energy tax credits created under the act would “undermine private investments and stop development that is already ongoing.”

Scott Segal, a Washington energy attorney told the Chronicle that for every Republican that signed the letter there are two or three that “generally agreed with the proposition but didn’t feel they were in a position to sign it.”

In addition, there are Project 2025 proposals, where energy and environment officials who worked for the Trump administration called for a return to Trump policies, with more coal mining and offshore drilling, as well as eliminating the enforcement division of the Environmental Protection Agency.

There are also many concerns over electric vehicles, however, Trump has sought to distance himself from Project 2025 and has even supported EVs after Tesla CEO Elon Musk endorsed him.

“I’m for electric cars,” Trump said. “I have to be, because Elon endorsed me very strongly. So I have no choice.”

It is still unclear how Texas billionaires’ money will influence Trump’s policies. For now, it is clear that he supports more oil and mining operations, but also supports EVs only because of Musk.