Texas oil billionaires are donating millions of dollars to Donald Trump’s campaign in an apparent move to make fossil fuels a top Republican issue if he wins the election.
Texas oil billionaire Tim Dunn and Kelcy Warren donated $5 million each to the Trump campaign, according to Open Secrets data.
According to the Houston Chronicle, Texas billionaires are targeting Democratic policies such as a $7,500 tax credit for electric vehicles, stricter emissions standards for cars and trucks, and incentives for homeowners to favor electric models over gas appliances.
Trump has also criticized President Joe Biden’s climate and energy policies and said he would increase oil and gas production in Texas and other areas.
But many Republicans in Republican-leaning states have voiced support for Biden administration policies, particularly the Inflation Control Act, which has delivered billions of dollars in federal funding to Republican-leaning states.
In August, 18 House Republicans wrote Speaker Mike Johnson saying eliminating the clean energy tax credits created by the law would “undermine private investment and halt development already underway.”
Scott Segal, a Washington energy lawyer, told the Chronicle that for every Republican who signed the letter, there were two or three others who “generally supported the proposal but didn’t feel in a position to sign it.”
Additionally, the Project 2025 proposal, drawn from energy and environmental officials who served in the Trump administration, called for a return to Trump policies, including expanding coal mining and offshore drilling and abolishing the Environmental Protection Agency’s enforcement division.
There are also many concerns about electric vehicles, but President Trump has tried to distance himself from Project 2025 and has backed them after Tesla CEO Elon Musk voiced his support.
“I support electric vehicles,” Trump said. “I have no choice because Elon has strongly supported me.”
It remains to be seen how the Texas billionaire’s money will influence President Trump’s policies, but for now it’s clear that while President Trump supports further expansion of the oil and mining industries, he also supports EVs thanks to Musk.
