Energy
Monday, June 3rd, 2024 3:35 pm EDT
Key Points
- Governor Doug Burgum denies claims made by the Washington Post that former President Donald Trump promised oil executives reduced regulations in exchange for campaign funds to support his return to the White House.
- Burgum refutes allegations of Trump targeting the oil industry for campaign financing, asserting that Trump’s engagement with the sector is standard for political candidates and emphasizes its significance to the economy.
- Despite Burgum’s endorsement of Trump for president and his advisory role on energy policy, scrutiny arises regarding his family’s financial ties to the oil industry, with revelations of leasing farmland to Continental Resources and earning royalties, prompting questions about potential conflicts of interest and political implications.
North Dakota Governor Doug Burgum, considered a potential running mate for former President Donald Trump, has refuted claims that Trump promised oil executives reduced regulations in exchange for campaign funds to support his return to the White House. Reports from the Washington Post suggested that Trump, during a meeting at his Mar-a-Lago club earlier this year, pledged to reverse environmental regulations enacted by the Biden administration and expand oil drilling leases in the Gulf of Mexico if $1 billion was raised for his re-election. Burgum, who attended the meeting, denied such discussions, stating that Trump did not solicit such a large donation nor propose a quid pro quo. Additionally, Burgum dismissed notions of Trump targeting the oil industry for campaign financing, asserting that Trump was merely engaging with a sector integral to the economy. Despite Burgum’s endorsement of Trump for president and his advisory role on energy policy, questions arose regarding his family’s financial ties to the oil industry, with his family leasing farmland to Continental Resources, a major oil and gas leaseholder in North Dakota. While Burgum’s financial disclosures reveal royalties of up to $50,000 from this arrangement since late 2022, experts suggest the actual earnings could be significantly higher since the contract’s inception in 2009. Concerns about Burgum’s alignment with the energy sector potentially alienating young voters focused on climate and environmental issues were brushed off by the governor, who expressed indifference. As Burgum, also a software entrepreneur, announced his decision not to seek a third term as governor earlier this year, his tenure is set to conclude in December, amid ongoing scrutiny over his ties to the oil industry and his role in Trump’s political circle.
For the full original article on CNBC, please click here: https://www.cnbc.com/2024/06/02/no-quid-pro-quo-between-trump-and-oil-execs-gov-burgum-says.html
