The biggest donors to all political candidates among oil and gas companies were a mix of traditional activists such as Koch Industries ($9.8 million), oil majors such as Chevron ($4.7 million), and shale oil firms like Midland Energy ($2 million). The vast majority of the $6.7 million given by top donors has gone to Republicans in Congress this election cycle. Only two Democrats—Senator Bernie Sanders (Vermont) and Rep. Lizzie Fletcher (Texas)—were even among the top 20 recipients.

The reason seems clear. Biden has embraced the climate movement and his party’s enthusiasm for a clean energy transition. Under Biden’s $2 trillion climate plan announced this July, the US will achieve zero net-emissions by 2050, eliminate electric grid emissions by 2035, promote renewable wind and solar energy development, and recommit to the Paris climate accords.

Biden also agreed (along with every major Democratic presidential nominee) to end the extraction of fossil fuels on public lands. That’s significantly more ambitious than Clinton’s proposal in 2016.

For the US oil and gas industry, this will accelerate the end of their traditional business model. It also appears to have ended their backing of Democrats campaigning for the White House.

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