Former President Donald Trump promised to rescind Biden administration regulations on fossil fuels and ease operations for oil and gas companies if elected, in exchange for $1 billion in campaign donations.
Trump claimed the tax savings and deregulation under his administration would exceed $1 billion offered by fossil fuel executives, framing it as a beneficial deal for them.
Trump also pledged multiple benefits to oil executives, including ending the freeze on LNG export permits, auctioning more offshore drilling leases, and reversing drilling restrictions in the Alaskan Arctic.
An industry executive at the meeting expressed frustration over Biden administration regulations despite the industry's donations, prompting Trump's promises of swift action on permits and deregulation if elected.
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