Former President Donald Trump wanted oil and gas leaders to give him $1 billion for his latest presidential run, but campaign records show they’re not close to reaching that as Election Day looms Tuesday.
Instead, the oil and gas sector is being dramatically outspent by Elon Musk, the CEO of electric vehicle maker Tesla.
Musk, who has major roles at other companies such as the X social media platform, has put more than $118 million behind the presidential aspirations of the former Republican president. The oil and gas industry has contributed over $20 million to Trump’s campaign efforts, according to OpenSecrets, a nonprofit that tracks campaign finance data.
Donations from the oil industry — led by $10 million from Kelcy Warren of Energy Transfer — amount to a lot of money, placing it among the top industries giving to Trump’s political committees, even if far short of Trump’s $1 billion ask. But Trump might not be satisfied after setting expectations so high, said Cal Jillson, a professor of political science at Southern Methodist University in Texas.
