It Is Where Most of Their Money Comes From
“Led by the oil and gas industry, this sector regularly pumps the vast majority of its campaign contributions into Republican coffers. Even as other traditionally GOP-inclined industries have shifted somewhat to the left, this sector has remained rock-solid red. Since the 1990 election cycle, more than two-thirds of this sector’s contributions to candidates and party committees has gone to Republicans. Besides oil and gas, the electric utilities industry is another big donor in this sector. Less generous, but even more partisan, is the mining industry.” [efn_note]Open Secrets – Oil and Gas Sector[/efn_note]
“Aramco is the latest in a string of oil giants to publish record profits this year. Russia’s invasion of Ukraine has led countries to look for alternatives to Russian gas, including turning to other oil rich nations – such as Saudi Arabia. This increased demand has seen oil prices soar. Aramco President and CEO Amin H. Nasser confirmed this in a statement, adding: “We expect oil demand to continue to grow for the rest of the decade despite downward economic pressures on short-term global forecasts.”” [efn_note]statista.com, Anna Fleck, August 15, 2002 – Saudi Aramco’s Profits Soar Amid High Oil Prices & Demand[/efn_note]
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