Joe Biden’s farewell address underscores the threat of an emerging oligarchy as fossil fuel billionaires see a 15% rise in wealth amidst a changing political landscape.
With the new administration under Trump, the fossil fuel industry expects to benefit significantly from planned rollbacks of Biden's climate policies, setting a concerning precedent.
Chuck Collins from Climate Accountability Research Project highlights the financial ties, stating, 'The oil-garchs' are already reaping the rewards of their political donations and activities in support of Trump.'
The American Petroleum Institute outlined its energy priorities, indicating, 'There are many steps the Trump administration can begin to take on day one,' signaling immediate action for fossil fuel profits.
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