Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Trump vows to target EVs, LNG exports in meeting with oil CEOs, report says

Published 05/09/2024, 08:21 AM
Updated 05/09/2024, 03:40 PM
© Reuters. Republican presidential candidate and former U.S. President Donald Trump attends a campaign event in Freeland, Michigan, U.S. May 1, 2024.  REUTERS/Brendan McDermid/File Photo

WASHINGTON (Reuters) -Republican presidential candidate Donald Trump vowed to reverse dozens of the Biden administration's environmental rules and policies at a meeting with top U.S. oil executives, where he also asked them to raise $1 billion for his presidential campaign, the Washington Post reported on Thursday.

The Post, citing unidentified sources familiar with the meeting last month in Florida, said Trump promised to end President Joe Biden's emissions rules aimed at promoting electric vehicles and halt the Biden administration's freeze on permits for new liquefied natural gas exports, among other actions.

Trump told the chief executives that giving $1 billion would be a "deal" for them, according to the report. Invited guests included the CEOs of Venture Global, Cheniere Energy (N:LNG) as well as representatives from Chevron (NYSE:CVX) , Continental Resources, Exxon (N:XOM) and Occidental Petroleum (NYSE:OXY) , it said.

Representatives for Trump's campaign did not respond to a request for comment. Representatives for Exxon said they had no details to share, while representatives for the other companies did not respond to requests for comment.

Trump, who faces a rematch with Biden in the Nov. 5 presidential election, has vowed to undo much of the Democratic president's work to fight climate change.

© Reuters. Republican presidential candidate and former U.S. President Donald Trump attends a campaign event in Freeland, Michigan, U.S. May 1, 2024.  REUTERS/Brendan McDermid/File Photo

Biden has touted his administration's climate efforts — including its tailpipe rules — as both good for the environment and for the economy, which is a factor in his re-election campaign.

At the meeting in Trump's private club, the Republican presidential contender also said he would auction off more leases for oil drilling in the Gulf of Mexico and reverse drilling restrictions in the Alaskan Arctic, the Post reported. He also reiterated his complaints about wind power, it added.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.