Oil companies reconsidering political giving after Capitol riot.
Contributions to Republicans put on pause or under evaluation after Capitol violence
WASHINGTON — Several major oil companies have suspended their political giving for six months after rioters stormed the U.S. Capitol last week, egged on by President Donald Trump and many Republican politicians who questioned the certified results of November’s presidential election.
Houston-based Conoco Phillips and BP’s employee political action committee on Monday said they will halt political contributions for six months while they reevaluate criteria for candidate support. Houston-based Occidental Petroleum said it is pausing donations “to ensure that we contribute to candidates who support our interests and align with our values.”
Conoco Phillips cited Congress’s vote on the certification of the Electoral College results for its decision to temporarily suspend political contributions. “While the company has a robust governance for political contributions, we are actively reviewing our current policies,” a spokesman said.
Exxon Mobil, the Texas oil major, told the online newsletter Popular Information that it too is reviewing contributions from its own PAC. Its U.S. rival, Chevron, said it regularly reviews policies and procedures governing political activities and contribution and “the events of the past week will be part of our review process.”
The moves come as U.S. corporations are moving to stop contributions to politicians who voted against certifying the results of the presidential election.
Companies including the chemical maker Dow, Blue Cross Blue Shield, Commerce Bank and Marriott International have already said they would suspend giving to any member of Congress
who voted against the election results, a list that includes eight Republican senators and 144 House members. Among them is Texas Sen. Ted Cruz, who demanded an “emergency audit” of the election results two months after the election.
“This suspension will remain in place for a period of one election cycle (two years for House members; up to six years for Senators),” Dow said in a statement. “Our values — integrity, respect for people, and protecting our planet — are the foundation on which we stand, and our values guide our political contributions.”
Additional penalties for Trump’s Republican allies are likely coming. The nation’s largest banks including JPMorgan Chase, Citigroup, Goldman Sachs, and Morgan Stanley, also are putting a hold on political giving while they review their policies.
The loss of oil sector contributions would be particularly painful for Texas politicians who have long relied on the industry to help fund their campaigns.
Cruz, for instance, received $1.6 million in political donations from the oil and gas industry over the last five years, more than any business group other than real estate professionals, according to the Center for Responsive Poli-tics.
Rep. Randy Weber, of Beaumont, one of 16 Texas Republican House members to vote against certifying election results, counted oil companies Koch Industries, Marathon Petroleum, Phillips 66 and Exxon Mobil among his 20 largest contributors ahead of last year’s election.
Neither Cruz nor Weber responded to a request for comment.
Last week, both Chevron and the American Petroleum Institute spoke out against the protest that overtook the Capitol. API President Mike Sommers said Wednesday on Twitter that he “proudly worked at the U.S. Capitol for 10 years. The violence there today is unspeakable, undercuts the peaceful transition of power, and has no place in America.”
Todd Staples, president of the Texas Oil and Gas Association, on Monday also condemned the Capitol riot, though when asked by reporters whether the trade group was rethinking its political contributions he said the organization only made donations to state politicians.
“Reckless destruction and mayhem (are) not the solution to our nation’s problems,” Staples said. “Our focus is on policy at the state level.”