President Joe Biden has consistently championed environmental policies during his time in office, while also maintaining a delicate balance with the oil industry. However, recent developments have prompted increased scrutiny of his stance as the November election approaches.
In the previous year, U.S. oil production hit record levels, a fact the Biden administration has not prominently highlighted to avoid backlash from alternative energy advocates. Biden has actively promoted green energy initiatives, emphasizing climate policies and legislation such as the Inflation Reduction Act, which incorporates numerous climate-related measures. Simultaneously, he has managed not to completely alienate the oil industry.
This balancing act faced a significant challenge with Biden’s recent decision to halt new U.S. liquefied natural gas (LNG) exports to countries without free trade agreements. This move, coupled with restrictions on oil drilling, particularly in Alaska, has led some in the oil sector to reassess their support.
Former President Donald Trump recently held a dinner with oil executives at Mar-a-Lago, seeking to secure their financial backing for his campaign. Reports indicate that Trump aimed to convince these executives to contribute significantly to his campaign, highlighting potential benefits he could offer in a second term. In addition, MAGA Inc., a super PAC supporting Trump, hosted a fundraising lunch in Houston, Texas, with oil industry executives, emphasizing their dissatisfaction with Biden’s energy policies. The New York Times noted that the LNG export pause served as a “wake-up call” for some in the industry, potentially shifting support towards Trump in the upcoming election.
Biden’s efforts to gain the backing of environmental groups have been noteworthy, as many within the Democratic base advocate for a transition to alternative energy sources. Last year, four major environmental organizations endorsed Biden. Sierra Club National Executive Director Ben Jealous praised Biden for his courageous actions at a pivotal moment in the climate fight, stating that no other administration has done more to advance climate initiatives. Despite this endorsement, environmental groups have pledged to hold the administration accountable and voiced concerns over specific policies.
Environmental issues are just one aspect of Biden’s broader policy challenges as he campaigns for a second term. Additionally, the administration’s evolving stance on the war in Gaza has sparked significant debate and posed challenges for Biden’s reelection efforts, demonstrating the complex landscape he navigates in his bid for continued leadership.