5 months ago
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A report reveals Scott Sheffield, former CEO of Pioneer Natural Resources and his son Bryan, have significantly increased their political contributions primarily to Republican candidates, following a Federal Trade Commission decision barring Scott from ExxonMobil's board.
Martha Pskowski reports for Inside Climate News.
In short:
- Scott Sheffield – the head of a Texas oil and gas empire– and his family have donated over $6.2 million to political causes since 2010, a Public Citizen’s report found.
- The Federal Trade Commission barred Scott Sheffield from joining ExxonMobil's board due to alleged collusion with OPEC.
- Bryan Sheffield increased donations to Republicans after the FTC's decision, including $413,000 to support Trump's presidential campaign.
Key quote:
"Oil barons being able to cash out and sell their companies and devote huge amounts of political contributions is a major problem for our democracy."
— Alan Zibel, researcher at Public Citizen and author of the new report.
Why this matters:
The significant financial influence of the Sheffields raises concerns about conflicts of interest and the integrity of political and regulatory processes in Texas. With close ties to Texas regulators, their contributions could impact decisions affecting the state's oil and gas industry.
