Oil company executives host Donald Trump campaign fundraiser in Houston

Oil company executives host Donald Trump campaign fundraiser in Houston
Oil company executives host Donald Trump campaign fundraiser in Houston

Executives from three major U.S. oil companies will host a fundraising luncheon for Donald Trump’s presidential campaign in Houston on Wednesday, according to a copy of the invitation seen by Reuters.

Oil companies tend to support Mr. Trump’s pro-fossil fuel, anti-regulation agenda and have criticized President Joe Biden’s efforts to phase out oil and gas in favor of renewable energy.

The luncheon, to be held at the Post Oak Hotel in Houston, is hosted by Harold Hamm, founder of Continental Resources, Kelcy Warren, executive chairman of Energy Transfer Partners, and Vicki Hollub, CEO of Occidental Petroleum, according to the invitation.

Mr. Trump is scheduled to speak.

Asked about the lunch, Vicki Hollub told Reuters she was speaking with politicians from both parties to express Occidental Petroleum’s support for federal subsidies for carbon capture technologies, which can prevent gases greenhouse effect from entering the atmosphere.

Carbon capture is expensive and has not yet been proven on a commercial scale. Some environmental groups oppose it, saying it risks prolonging the era of fossil fuels. Mr. Biden expanded subsidies for carbon capture in his 2022 Inflation Reduction Act, part of a package to combat climate change.

Occidental has invested in carbon capture projects that siphon carbon from smokestacks, and last year announced plans to build the world’s largest direct air capture facility to suck carbon out of the open air .

Representatives for Continental and Energy Transfer Partners did not comment on the lunch.

Mr. Hamm and Ms. Warren are longtime supporters of Mr. Trump, whose previous presidential bids they supported. Mr. Hamm served as an informal advisor to Mr. Trump during his tenure in the White House (2017-2020).

Last month, Mr. Trump met with other oil executives at his luxury hotel in Mar-a-Lago, Florida, and asked the industry for $1 billion to support his current presidential bid, according to media reports. (Reporting by Alexandra Ulmer and Valerie Volcovici; Writing by Richard Valdmanis; Editing by David Gregorio)

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