ICYMI: Big Oil’s Ask From Trump for $1 Billion Means at least $110 Million of Big Oil Tax Breaks and Economic Damages of $1 Trillion

Reuters: “A Trump presidency would risk $1 trillion in clean energy investment, WoodMac says”

WASHINGTON, D.C. – Last week, respected energy consulting firm Wood Mackenzie issued a report showing that Donald Trump’s election would cost the economy $1 trillion worth of investments in clean energy just days after we learned that Donald Trump promised Big Oil an agenda that would save them $110 billion in tax breaks. This came during the same fundraiser where Trump asked Big Oil for $1 billion in “campaign donations,” which would give them an 11,000% return on investment for Trump’s proposed “deal.” None of this money will ever cover the true costs of climate disasters like last week’s storms in communities like Houston, which was wracked by storms that cut power to more than 1 million homes and took several lives.

Climate Power managing director of communications Alex Glass released the following statement: “While math can be complicated, Trump’s plans for our planet are simple: sell it out to the highest bidder. A billion dollars in Big Oil contributions to Trump’s campaign will equal an 11,000% return on their investment in the form of tax breaks and an estimated $1 trillion worth of damage to the U.S. clean energy industry and the hundreds of thousands of American jobs that it has already created. American workers and communities struggling to prevent and rebuild from extreme weather simply can’t afford another Trump term.”