The Grand Old Party (GOP) or Republican Party in Texas continues to be mired in controversy. Just ahead of the Texas primary, it accepted millions from oil and gas. This comes at a time when there is much talk about cutting on limiting these money influence in politics from corporate giants, especially oil and gas companies that continue to be viewed as major blocks for a more environment-friendly energy sector. This article by Jimmy Cloutier is published by Open Secrets. Here is an excerpt:
Ahead of the Texas primary, the oil and gas industry contributed more than $19 million — roughly 93% of its political giving to state elections this cycle — to Republican candidates in the Lone Star State, including the governor, attorney general, and the state’s chief oil and gas regulator. Unlike some states, Texas does not limit the amount contributors can give to political campaigns.
The industry has long been a powerful political and economic force in Texas, which became one of the world’s top oil producers during the fracking boom of the early 2000s, helping the United States achieve energy independence.
As the war in Ukraine upends the global energy market, the industry could grow even more powerful, with U.S. producers rushing to fill the gap left by Russia, the world’s largest and second-largest producer of natural gas and oil respectively. Industry groups have already urged President Joe Biden to allow more oil and gas development on federal land and support policies bolstering natural gas exports.
Read the full article here.