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A new report tracks the monthly wealth of fossil fuel billionaires.
Welcome to the age of Oil-Garchy, where the concentrated wealth and power of the fossil fuel industry dominates our political system. After donating heavily to Trump’s campaign, the industry has already begun to reap return on their investments.
Trump has nominated some of the most vociferous climate deniers and advocates for the oil, gas, and coal industries for key positions overseeing the environment, energy, and public lands. Former Congressman Lee Zeldin has been nominated to run the Environmental Protection Agency and Chris Wright, CEO of fracking company Liberty Energy, is poised to oversee the Energy Department.
In addition to putting drillers in charge of the watershed, the financial returns are beginning to flow in likely anticipation of pro-oil and gas policies. The top 15 fossil fuel industry billionaires have already seen their personal combined wealth rise from $267.6 billion to $307.9 billion, a gain of over $40 billion, or 15.2 percent since April 2024.
The Climate Accountability Research Project (CARP) released its first monthly tracking report,Pipeline to Power: Trump and the “Oil-garch” Wealth Surge, that will monitor wealth gains and losses by top billionaires in the sector over the coming year. According to the report, the first wave of big wealth gainers include:
On April 11, 2024, the CEOs and leaders of the oil and gas industriesgathered at Mar-A-Lago for a meeting with candidate Trump about energy policy. Trump used the occasion,according to witnesses present, to make a brazen transactional pitch: raise $1 billion for his campaign and he would do their bidding. Trumptold the assembled that the amount of money they would save in taxes and legal expenses after he repealed regulations would more than cover their billion-dollar contribution. Trump implied that if elected, he would expand offshore drilling, weaken environmental rules, and scrap electric vehicle and wind policies and other regulations opposed by the industry groups. Trump vowed to reverse President Biden’s pause on new LNG exports.
Present at the Mar-a-Lago Club on that April day were industry leaders such as Harold Hamm, the wildcat fracker and chairman of Continental Resources, who played an influential role in Trump’s first administration, pushing for Scott Pruitt to serve as Trump’s head of the Environmental Protection Agency. Also present was Doug Burgum, governor of North Dakota and Trump’s nominee to Interior Secretary, a position overseeing gas leases on public lands. Other attendees included leaders from the American Petroleum Institute and executives from Chevron, ExxonMobil, ConocoPhillips, along with fracking producers Cheniere Energy and EQT.
Harold Hamm and Vicki Hollub, CEO of Occidental Petroleum,organized donors within the fossil fuel sector to support Trump and funnel money to his campaign. They didn’t raise a billion dollars, but they helped move hundreds of millions to PACs supporting Trump and directly to the candidate.
According to Climate Connections at Yale University, the fossil fuel industry spent $219 million to influence the new U.S. government. This included $26 million in direct oil and gas industry contributions to the campaigns of policymakers taking office in 2025, with 88 percent going to Republican lawmakers. The analysis found an additional $151 million in outside spending, including donations to political action committees (PACs), and $67 million to PACs supporting candidates. Nearly $23 million in oil and gas industry funds went directly to candidate Trump and his PACs.
Trump’s mega-donors included banking and oil scion Timothy Mellon and Timothy Dunn, CEO billionaire of CrownQuest, a major oil and fracking company based in Texas. George Bishop, the CEO of oil and gas company GeoSouthern Energy, donated$1 million to Trump’s campaign, with his wife forking over an additional $500,000. Fossil fuel billionairesKelcy Warren andHarold Hamm donated $5 million and $1 million respectively to Trump's 2024 presidential campaign.
This is what “Oil-garchy” looks like. See the whole report,Pipeline to Power: Trump and the “Oil-garch” Wealth Surge, atwww.climatecriminals.org.One wonders if the world had paid even the slightest attention to Gaza and the cries of people trapped behind walls, barbed wire, and electric fences, whether the current war and genocide could have been avoided.
The first official reference to Gaza becoming increasingly uninhabitable was made by the United Nations Conference on Trade and Development, or UNCTAD, in 2012, when the population of the Gaza Strip was estimated at 1.8 million inhabitants.
The intention of the report, The Gaza Strip: The Economic Situation and the Prospects for Development, was not merely to prophesize, but to warn that if the world continued to stand idle in the face of the ongoing blockade on Gaza, a humanitarian catastrophe was imminent.
Yet, little was done, though the U.N. continued with its countdown, increasing the frequency and urgency of its warnings, especially following major wars.
Even after the devastating war on Gaza ends and the rebuilding of the strip concludes, the ecological and environmental harm that Israel has caused will remain for many years to come.
Another report in 2015 from UNCTAD stated that the Gaza crisis had intensified following the most destructive war to that date, the year before. The war had destroyed hundreds of factories, thousands of homes, and displaced tens of thousands of people.
By 2020, though, based on the criteria set by the U.N., Gaza should have become "uninhabitable." Yet, little was done to remedy the crisis. The population grew rapidly, while resources, including Gaza's land mass, shrank due to the ever-expanding Israeli "buffer zone." The prospects for the "world's largest open-air prison" became even dimmer.
Yet, the international community did little to heed the call of UNCTAD and other U.N. and international institutions. The humanitarian crisis—situated within a prolonged political crisis, a siege, repeated wars, and daily violence—worsened, reaching, on October 7, 2023, the point of implosion.
One wonders if the world had paid even the slightest attention to Gaza and the cries of people trapped behind walls, barbed wire, and electric fences, whether the current war and genocide could have been avoided.
It is all moot now. The worst-case scenario has actualized in a way that even the most pessimistic estimates by Palestinian, Arab, or international groups could not have foreseen.
Not only is Gaza now beyond "uninhabitable," but, according to Greenpeace, it will be "uninhabitable for generations to come." This does not hinge on the resilience of Palestinians in Gaza, whose legendary steadfastness is hardly disputed. However, there are essential survival needs that even the strongest people cannot replace with their mere desire to survive.
In just the first 120 days of war, "staggering" carbon emissions were estimated at 536,410 tons of carbon dioxide. Ninety percent of that deadly pollution was "attributed to Israel's air bombardment and ground invasion," according to Greenpeace, which concluded that the total sum of carbon emissions "is greater than the annual carbon footprint of many climate-vulnerable nations."
A report issued around the same time by the U.N. Environment Program (UNEP) painted an equally frightening picture of what was taking place in Gaza as a direct result of the war. "Water and sanitation have collapsed," it declared last June. "Coastal areas, soil, and ecosystems have been severely impacted," it continued.
But that was over seven months ago, when parts of Gaza were still standing. Now, almost all of Gaza has been destroyed. Garbage has been piling up for 15 months without a single facility to process it efficiently. Disease is widespread, and all hospitals have either been destroyed in the bombings, burned to the ground, or bulldozed. Many of the sick are dying in their tents without ever seeing a doctor.
Without any outside assistance, it was only natural for the disaster to worsen. Last December, Médecins Sans Frontières issued a report titled Gaza: Life in a Death Trap. The report, a devastating read, describes the state of medical infrastructure in Gaza, which can be summed up in a single word: non-existent.
Israel has attacked 512 healthcare facilities between October 2023 and September 2024, killing 500 healthcare workers. This means that a population is trying to survive during one of the harshest wars ever recorded, without any serious medical attention. This includes nearly half a million people suffering from various mental health disorders.
By December, Gaza's Government Media Office reported that there are an estimated 23 million tons of debris resulting from the dropping of 75,000 tons of explosives—in addition to other forms of destruction. This has released 281,000 metric tons of carbon dioxide into the air.
Once the war is over, Gaza will be rebuilt. Though Palestinian sumud (steadfastness) is capable of restoring Gaza to its former self, however long it takes, a study conducted by Queen Mary University in the U.K. said that, for the destroyed structures to be rebuilt, an additional 60 million tons of CO2 will be released into an already severely impacted environment.
In essence, this means that even after the devastating war on Gaza ends and the rebuilding of the strip concludes, the ecological and environmental harm that Israel has caused will remain for many years to come.
It is baffling that the very Western countries, which speak tirelessly about environmental protection, preservation, and warning against carbon emissions, are the same entities that helped sustain the war on Gaza, either through arming Israel or remaining silent in the face of the ongoing atrocities.
The price of this hypocrisy is the enduring suffering of millions of people and the devastation of their environment. Isn't it time for the world to wake up and collectively declare: enough is enough?
Our endless wars have pushed forward the climate crisis, and now its catastrophic results are once again terrifyingly visible inside the belly of the beast.
Earlier on Wednesday, January 8th, I saw a prominent Zionist commentator and Twitter/X User post, “Has Greta Thunberg taken her keffiyeh off to address the fires in LA yet or are there too many Jews living here for her to be concerned?” The weird implications about a mythical antisemitic malice that climate activist Greta Thunberg has to supposedly fuel her anti-genocide and ecocide beliefs aside, the post is equally embarrassing in its lack of understanding about the exacerbators of Los Angeles’ most destructive fires in the metropolitan area’s history.
Sadly, the disconnect that this post showcases is representative of many people and institutions, not only in explicitly pro-Israel spaces but also in the environmental movement. The US military is the #1 institutional polluter in the world. Cities across the country have been sacrificed by the local and federal prioritization of militarism and policing. Our endless wars have pushed forward the climate crisis, and now its catastrophic results are once again terrifyingly visible inside the belly of the beast.
For decades, the military-industrial complex has been destroying ecosystems, cities, and nations across the SWANA region for the sake of dominance in the oil industry. For 15 months, the US-Israeli bombing unleashed on Gaza has released insane amounts of fossil fuel into the atmosphere while poisoning the soil with each shell. Israel recently detonated an “earthquake bomb,” which some reports have suggested could have been possibly nuclear. The genocide in Gaza has devastated the ecosystem and will make agricultural survival in any eventual rebuilding effort extremely difficult. The war in Ukraine has resulted in explosions of the Nordstream pipeline. Bases around the world, expanded for meaningless escalation with China, have resulted in soil contaminated with toxic PFAS chemicals, harming the soil. Biodiversity is at risk globally.
Forest fires are a natural part of California’s ecosystem. They are needed to survive. The long-time development in inevitable natural burn zones, combined with the suppression of these natural cycles for the sake of billionaire Malibu homes, has not helped this situation at all. This disregard for a balanced ecosystem has historically and continuously come at the expense of middle and working-class neighborhoods in LA vulnerable to preventable fires. The threat to LA is only further magnified by the extra dry air and almost 100mph wind speeds created by the war economy’s climate crisis.
Swedish activist Greta Thunberg attends a solidarity with Palestine event on December 06, 2024 in Mannheim, Germany. Thunberg, who was a central figure in the global movement calling for action on climate change, has been outspoken in her support for Palestine ever since the Israeli invasion of Gaza in October of 2023. (Photo by Thomas Lohnes/Getty Images)
This local neglect of the natural environment comes from a similar place as the Jewish National Fund’s planting of non-native pine trees across Palestine, often above bulldozed Palestinian villages, at the expense of crucial biodiversity. In both instances, the interests of the war economy that prioritizes those in power are what remain above respect for Indigenous caretaking practices and life. And the results in both cases are catastrophic. Amidst a world that has gone through imperialist ecocidal war for decades, the world’s biodiversity, much of which is in sovereign Indigenous land, has been decimated.
This climate-sacrificial militarism isn’t just on the international stage either. In Atlanta, the proposed “Cop City” police training facility is supposed to be built on the Weelaunee Forest: sacred indigenous land also described as the “lungs” of the city. Not only does the forest provide crucial air quality, but it also acts as flooding protection. Recently, Appalachia and Atlanta suffered extreme flooding. Cop City will only make this worse as the forest is destroyed. Those prioritizing these military training facilities and exchange programs with Israeli Occupation Forces are doing so at the expense of the city itself. LA’s Mayor, Karen Bass, recently proposed allocating an extra $123 million to the police while cutting the budget of the fire department by $23 million. Now, the city is burning uncontrollably, and the fire department can only attempt to save residents.
This was avoidable. The flooding in Appalachia is avoidable. Future devastating flooding in a post-cop city Atlanta, NYC, and the entire coastal region is avoidable. Did anyone really think that we could continue to wage ecocide across the world without it coming back to us? Or prioritize militarism at home that trains with our genocidal proxy above human services? The fires in Gaza are the fires in LA. They are brought about by the same institutions and are fixable through overlapping measures. The former was intentional, and the latter is a ricochet. Both are devastating, heartbreaking, terrifying, and infuriating.
Climate organizations are warning about what the fires in LA represent. Some amount of federal funding left over from our shiny new nearly $1 trillion military budget will be allocated to helping the people of L.A. But the same organizations releasing these statements and the same politicians allocating emergency funds are the ones fanning the flames. Either by the silence that deliberately or neglectfully hides the crisis or warmongering that actively drives it further.
So no, Greta Thunberg should not “take off her keffiyeh” to talk about the fires. The only way to fight the fires is through the understanding that should come with wearing one.