Trump suggests to oil donors that he will fast-track their merger deals

  • 📰 adndotcom
  • ⏱ Reading Time:
  • 52 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

The ex-president’s pledge to the fossil fuel industry is the latest to emerge from a closed-door fundraising meeting.

Former President Donald Trump arrives to speak at a news conference at Trump Tower, Friday, May 31, 2024, in New York.

At the Houston fundraiser, Trump also gave a speech in which he vowed to immediately approve oil pipelines and expand oil drilling in a second term, as The Post has reported. If approved, the CrownRock takeover would make Occidental a bigger player in U.S. shale than Chevron and Hess combined. The deal would boost Occidental’s production in the Permian Basin — a major oil field that covers West Texas and Southeast New Mexico — by 170,000 barrels of oil and gas per day. The FTC has sought to determine whether the merger violates antitrust regulations.

“It’s a new era of the shale industry. We’ve been calling it Shale 4.0,” said Matthew Bernstein, a senior analyst and manager of shale analytics at Rystad Energy. “Perhaps there has been a higher degree of FTC scrutiny, given the pace and the size of these deals.” Phones were taken before attendees entered the smaller room. A few other elected officials also attended the event, but it was mainly oil executives, according to people with knowledge of the matter.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 293. in US

United States United States Latest News, United States United States Headlines