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The Guardian - US
The Guardian - US
Environment
Dharna Noor

Wealth of US ‘oil-garchs’ went up 15% in nine months as industry figures plan Trump inauguration party

A gas flare burns near an oil pump jack at the New Harmony Oil Field in Grayville, Illinois, in 2022.
A gas flare burns near an oil pump jack at the New Harmony oilfield in Grayville, Illinois, in 2022. Photograph: Bloomberg/Getty Images

As Joe Biden warns in his farewell address as president that “an oligarchy is taking shape in America”, a new report reveals that US fossil fuel billionaires’ wealth increased by 15% over the past nine months. Some of those wealthy figures will be at parties in DC celebrating Trump’s inauguration on Monday and expecting further rewards for his “drill, baby, drill” energy agenda.

The report from the research group Climate Accountability Research Project (Carp) comes just days ahead of climate denier Donald Trump’s second presidential inauguration, which oil and gas representatives and Trump donors plan to celebrate at a swanky industry party in Washington DC.

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