XOM - Trump's 'Policies-For-Money' Transaction With Big Oil Under Investigation By Senate Democrats: 'Cronyism And Corruption' | Benzinga
The Senate Democrats have launched an investigation into claims that former President Donald Trump proposed a deal with leading oil and gas companies. The allegations suggest Trump offered to roll back environmental regulations in return for $1bn in campaign contributions.
What Happened: The probe is centered on Trump’s ties with the fossil fuel industry. This follows his fundraising tour in Texas, where he targeted affluent industry executives. The investigation forms part of the Democrats’ strategy to highlight Trump’s industry connections ahead of the November elections, reported The Financial Times.
Letters were sent to the leaders of companies such as ExxonMobil (NYSE:XOM), Chevron (NYSE:CVX), and Occidental Petroleum (NYSE:OXY). The letters ...