March 19 (UPI) — Fifteen oil industry executives will meet with President Donald Trump at the White House Wednesday to discuss oil prices and tariffs.
Big Oil gave over $75 million to Trump PACs during the campaign and now oil prices are down to less than $67 a barrel while tariffs imposed by Trump add 25% to the costs of steel used in pipelines and wells.
CNBC, citing a senior administration official, said the Trump energy agenda will be discussed. That agenda includes increasing fossil fuel production while getting rid of the Biden administration’s efforts to address climate change.
The oil execs are expected to push for tariff exemptions while lobbying for reduced regulations on building oil infrastructure.
The Sierra Club said in a Wednesday statement, “”Trump pressured oil executives to give $1 billion to his campaign in exchange for preferential treatment for the industry, and it would seem that the quid pro quo is paying off. Trump is seeking to cut off investment in clean energy sources through his sham energy ’emergency’ and has put oil and gas insiders in critical positions at DOE, DOI and EPA.”
Both Energy Secretary Chris Wright and Interior Secretary Doug Burgum will also meet with the executives.
The oil executives are members of the American Petroleum Institute.
The Sierra Club statement added, “Now, he’s sitting down with the API, a fossil fuel industry group. We must find ways to expand access to clean, affordable energy instead of continuing to pad the profits of API members and oil and gas executives who attempt to buy influence in the government.”
One sign of that influence was Secretary Burgum telling Big Oil at a Houston conference last week that the administration wants to make it as easy as possible to drill for oil and gas on federal and tribal lands.
