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World Corporations OK, but Biden Inaugural Won't Be Fueled by Oil and Gas Industry Money

01:30  04 december  2020
01:30  04 december  2020 Source:   newsweek.com

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Joe Biden 's inaugural committee will accept corporate donations up to million, but bar lobbyists The inaugural committee's ban on donations from lobbyists and the oil and gas industry represents a Trump's 2017 inaugural committee placed no limits on the amount of money corporations and

Investing.com - Oil prices rose for a second day in a row as OPEC and its allies managed to announce a production hike without scaring the market — a development that underscored the cartel was finally learning from past mistakes. The 13 member Saudi-steered Organization of Petroleum Exporting

Joe Biden and Kamala Harris' inaugural festivities will likely be fueled by millions from corporations and other special interest groups in January, in addition to individual contributions from wealthy supporters.

a man wearing a suit and tie standing next to a car: U.S. President-elect Joe Biden waves as he arrives at the Queen Theater to name his economic team on December 1, 2020 in Wilmington, Delaware. Biden is nominating and appointing key positions of the team, including Janet Yellen to be Secretary of the Treasury. © Alex Wong/Getty U.S. President-elect Joe Biden waves as he arrives at the Queen Theater to name his economic team on December 1, 2020 in Wilmington, Delaware. Biden is nominating and appointing key positions of the team, including Janet Yellen to be Secretary of the Treasury.

But no money from lobbyists or the oil and gas industry, please.

The donation page that launched this week has a disclaimer saying that the inauguration committee "does not accept contributions from fossil fuel companies (i.e., companies whose primary business is the extraction, processing, distribution or sale of oil, gas or coal), their executives, or from PACs organized by them."

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Oil and gas executives have been keenly aware that the world is starting to move from fossil fuels toward renewable energy, although they strongly argue But the U.S. oil industry , which has donated much more to President Trump’s campaign than to Mr. Biden ’s, has been more reluctant to change its

Money transfers. Interestingly, despite Biden ’s plans to increase corporation taxes, the Moody’s analysis also shows a higher annual growth rate in corporate profits “We conclude that Biden ’s economic proposals would result in a stronger US economy than Trump’s,” say the Moody’s analysts.

The committee also bars contributions from "lobbyists registered under the Lobbying Disclosure Act" or from "foreign agents registered under the Foreign Agent Registration Act."

A presidential inauguration committee official involved in planning told Newsweek that individual contribution limits are being capped at $500,000, while corporate limits have been set at $1 million. Any amounts over that will be refunded.

While still leaving room for deep-pocketed entities and people to signal support for the incoming Democratic president's administration, the limitations represent a reversal from four years ago, when President Donald Trump's inaugural committee set no restrictions on contributions, aside from barring foreign agents.

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In essence, this new Senate report describes Hunter Biden , Joe Biden and other family members as international money criminals who built a massive, global money network by exploiting the power of the United States to threaten and bully foreign corporations and governments.

Given the mixed messages Biden and his campaign have presented regarding oil and gas development, Rigzone caught up with an energy industry veteran for his insights on what the Biden camp’s proposals could mean for the industry – and how they might influence voters.

The virtual free-for-all led the Trump team to a record-shattering $107 million haul to pay for days of lavish parties and gatherings—more than twice that of the previous $53.3 million record set by President Barack Obama and Biden ahead of 2009's swearing in. Current law does not place restrictions on the size of donations.

Biden, as vice president to Obama, supported unprecedented caps on inaugural fundraising in 2008—a move touted as a way to "underscore their commitment to change business as usual in Washington and ensure that as many Americans as possible, both inside and outside Washington, will be able to come together to unite the country and celebrate our common values and shared aspirations."

Individual contribution limits were set $50,000, and the Obama inaugural team did not accept contributions from corporations, political action committees, registered lobbyists, non-U.S. citizens or registered foreign agents. Obama's team raised $43.7 million for the second inaugural in 2013, records show, but it loosened donation restrictions it had placed ahead of Obama's first term.

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The emergence of unconventional oil and gas will have tremendous impacts on both the energy industry and the economy. Greater reliance on natural gas - fueled light duty vehicles is possible but will require more time due to greater infrastructure requirements and technological innovation.

This covert technology is called Operation Scorecard, and it was built by the CIA to surreptitiously steal elections in targeted countries. Now, that technology is being turned against the United States of America and is about to be activated on Tuesday to steal the election for Biden , explains Janda’s guest.

The Biden inaugural official declined to provide for Newsweek a target fundraising number for this year.

In addition to taking high-dollar donations from corporations and individuals, the inaugural planning team has set up a merchandise store where part of the proceeds from items like a pair of stemless wine glasses ($50), a wooden coaster set ($95) or a shot glass ($10)—all emblazoned with the Biden-Harris inauguration logo—can help defray the costs of ushering Biden into office.

The inaugural and transition teams have indicated that the festivities around the January 20 ceremony will be scaled back because of the coronavirus pandemic.

"This year's inauguration will look different amid the pandemic, but we will honor the American inaugural traditions and engage Americans across the country while keeping everybody healthy and safe," Tony Allen, the Delaware State University president who was chosen to lead the inauguration committee, said in a statement.

The committee, which is funded solely through millions in donations, organizes a week of festivities, including elaborate balls, star-studded concerts and extravagant luncheons and receptions.

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It is separate from the Joint Congressional Committee on Inaugural Ceremonies, a group of House and Senate leaders that oversees the formal swearing in at the U.S. Capitol. But the groups are expected to work more closely this year to ensure that coronavirus safety measures are considered.

"We have engaged with the [Joint Congressional Committee on Inaugural Ceremonies] on initial planning discussions and look forward to working with them on planning safe inauguration events," the official told Newsweek.

In addition to Allen, the inaugural executive team consists of Maju Varghese, who was a senior adviser on the Biden-Harris campaign and an Obama White House aide; Erin Wilson, who was on the Biden-Harris campaign and other Democratic campaigns; and Nevada state Senator Yvanna Cancela, identified as "one of Joe Biden's earliest elected supporters."

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