US oil majors pitch more campaign cash to Democrats as frack battle looms

Fox Business ^ | October 16, 2020 | Liz Hampton

[CedarDave]

The two largest U.S. energy firms, Chevron Corp and Exxon Mobil Corp, have increased their share of campaign donations to Democrats this year, according to latest filings, amid a looming battle over fracking.

The vast majority, 85% of all oil and gas donations this election, have flowed on behalf of U.S. President Donald Trump, other Republican candidates and conservative causes, according to data from campaign researcher the Center for Responsive Politics (CRP).

However, oil majors have put more money into Democratic coffers as some polls show Democratic challenger Joseph Biden with an as much as 10 percentage point lead and a platform calling for the nation to transition to more renewable energy and an end to new fracking permits on federal lands.

Chevron contributed roughly 28% of its political funds to Democratic candidates this cycle, from 26% in 2016. Exxon sent 41% of its contributions to Democratic candidates and parties, up from 32.6% in the last presidential election, the data showed.

Chevron's $4.9 million in spending is to "support the election of candidates who believe, like we do, in the value of responsible oil and natural gas development and organizations and measures that are aligned with our business interests," said spokesman Sean Comey.

Exxon spent $1.7 million on contributions to all candidates and groups. The company did not respond to a request for comment.

U.S. oil and gas companies have poured $87 million into political spending this cycle, according to data available as of mid-September and compiled by CRP. That compares with $104 million during the entire 2016 presidential election, according to CRP.

Biden has pledged to shift the United States to net-zero carbon emissions by 2050, ban the issue of new fracking permits on federal lands, and to recommit the United States to the Paris [climate] Agreement ...

[CedarDave]

Big oil hedging their bets because they have the most to lose if Biden is elected. But the real losers would be the small producer and hundreds of thousands of oil industry workers - drillers, producers, frackers, pipeline workers, support service workers including dirt contractors, electricians, pumpers, welders, fabricators, equipment suppliers, etc.

[CedarDave]

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[Buckeye McFrog]

Hey, Lefties,

Your heroes like AOC are sellin’ yinz aht.

[jmaroneps37]

Sure thing. Go away.

[gibsonguy]

Hedging bets but if the rats win it won’t help them at all.

[Buckeye McFrog]

If the GOP had any brains they’d be using this story to run voter suppression aimed at their side.

[DIRTYSECRET]

I’m sure it means employee contributions. Most are registered rats. They investing in renewables? I don’t think so.

[Yo-Yo]

Gotta hedge your bets by supporting both sides.

[DoughtyOne]

you can’t fix stupid

[Tallguy]

Foolish. When Nancy cracks the whip, the Democrat critters fall into line.

[Sequoyah101]

Overseas this would probably be an FCPA (Foreign Corrupt Practices Act) actionable offense. Here, it is just politics.

If the same companies did this in say, Nigeria, Libya, Mexico, Indonesia, anywhere outside the United States it would be considered a bribe and the very same politicians who get “contributions” here would be screaming for prosecution.

Just a “facilitation” payment.

[Dead Corpse]

Seems to me almost a Lovecraftian Deal rather than a Faustian one.

In the Cthulhu mythos, they pray to their God to be eaten LAST.

Big Oil trying to paying off the oil industry hating Socialists... in a bid to be "eaten last".

[Sacajaweau]

They forgot that Biden said....”No more fossil fuels”.....over and over and over.

[Political Junkie Too]

Chevron's headquarters are in Eric Swalwell's district.

-PJ

[xp38]

Yeah but so does Biden

[xp38]

He knows something about gas

[T-Bird45]

Having been raised as the son of one of those workers on your list, I just smh at the hubris of the corporate big-heads who apparently can’t understand plain language from Biden and his greenie masters.

[The MAGA-Deplorian]

Yeah like its goi gto help. Its like a pro life group contributing to democraps in hopes they will not support abortion!

[SgtHooper]

Corporations should NOT be allowed to contribute political donations.

[GreyFriar]

All they are doing is wasting their money if they think their bribes will cause the Dems to outlaw fracking if they gain total control of the government.