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News Articles Press Releases J.D. Vance Economy Friday, Oct 7 2022

ICYMI: J.D. Vance Profiting from Oil and Gas Companies While Complaining About Gas Prices

Oct 07, 2022

Yesterday, The American Independent reported that Ohio GOP U.S. Senate Nominee J.D. Vance “personally profits from oil and gas companies and has broken his promise not to take their campaign donations.” Vance has complained about high gas prices, while raking in money from the fossil fuel industry.

“While Ohioans are struggling with higher prices at the pump, Vance is filling his pockets and campaign coffers with cash from oil companies raking in record profits,” said American Bridge 21 Century spokesperson Aidan Johnson.  “No amount of money from Big Oil billionaires can change the reality that voters see Vance for exactly who he is: a fraud.”

The American Independent: JD Vance complains about gas prices while raking in fossil fuel industry money

By Josh Israel | October 6, 2022

Key Points:

  • “Ohio Republican Senate nominee J.D. Vance often complains about high gas prices, falsely blaming them on Democratic energy policies. But through his personal investments and campaign contributions, he has received tens of thousands of dollars from the fossil fuel industry in the past year.”

  • “On April 1, Vance filed an amended financial disclosure statement for last year, noting that he owned between $100,001 and $250,000 in K-1 Free Crude Oil Strategy ETF, a mutual fund invested in crude oil futures, bringing him an annual income of at least $1,001.”

  • “In January, Vance appeared on Steve Bannon’s ‘War Room’ podcast and railed against corporate influence on government. Asked if he would accept corporate political action committee donations, Vance promised: ‘Not yet. We haven’t taken any yet. Sorry. I’m not going to take corporate PAC money.’”

  • “But since that time, he has taken tens of thousands of dollars from fossil fuel industry PACs, including those of ExxonMobil, the American Petroleum Institute, Koch Industries, Western Energy Alliance, Continental Resources, and NextEra Energy.”

  • “And as he has profited from and been supported by the oil and gas sector, Vance has simultaneously abandoned his earlier positions to adopt the industry line. As recently as 2020, Vance acknowledged that the world is facing a climate crisis and pushed for clean renewable energy as the solution. He has since flip-flopped.”

  • “Like industry groups, Vance opposed Biden’s Inflation Reduction Act — which invests hundreds of billions of dollars in energy and climate change infrastructure — falsely claiming it would ‘put a lot of Ohioans out of work.’”

Read the full report here.

Published: Oct 7, 2022 | Last Modified: Oct 12, 2022

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