<
https://www.theguardian.com/us-news/2025/jun/18/trump-oil-gas-industry-donors>
"Kelcy Warren was among the top donors for Donald Trump’s 2024 White House bid,
personally pouring at least $5m into the campaign and co-hosting a fundraiser
for the then presidential hopeful in Houston.
Trump’s win appears to already be benefiting Warren and Energy Transfer
Partners, the pipeline and energy firm of which he is co-founder, executive
chair and primary shareholder.
“We will be a rich nation again, and it is that liquid gold under our feet that
will help to do it,” Trump said in his inaugural address.
Though domestic fossil fuel production reached record levels under Joe Biden,
his policies to boost renewable energy still sparked fear among oil and gas
companies, said Mark Jones, a political scientist at Rice University in
Houston, Texas. “There was a threat of moving toward a net zero world … maybe
not now, but there was an idea that would happen if Democrats stayed in the
White House,” said Jones.
For Warren and other oil billionaires, Trump removed that fear, Jones said.
Energy Transfer Partners reported a year-over-year increase in profits in the
first quarter of this year. In an earnings call last month, company top brass
praised the new administration and more supportive regulatory environment.
Among Trump’s moves that have benefited the company: a day-one move to end
Biden’s pause on liquefied natural gas exports, which enables Energy Transfer
to proceed with a long-sought-after LNG project in Lake Charles. On 13 May,
Trump’s Federal Energy Commission (Ferc) also granted a three-year extension
for the LNG project, which the company said was necessary for the project to
succeed.
In the week after the Ferc decision, Warren’s wealth rose by nearly 10%, noted
Sarah Cohen, who directs the climate and wealth inequality-focused non-profit
Climate Accountability Research Project (Carp).
“That decision wouldn’t have been possible under Biden’s LNG pause,” said
Cohen, who calculated the change using the Bloomberg billionaires index.
Since that Ferc decision, Energy Transfer Partners has also secured a 20-year
deal to supply a Japanese company with up to 1m metric tons of LNG a year."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
