Category: Conspiracy Theories

Oil billionaire Jeffery Hildebrand, a major Trump donor, received a White House summons in January after Trump ordered the military raid capturing Venezuelan leader Nicolás Maduro. At the East Room meeting, Trump pressed Hildebrand and two dozen other energy executives to commit $100 billion to Venezuela’s oil industry, and Hildebrand pledged Hilcorp’s involvement despite having no significant operations outside the U.S. Hildebrand’s willingness to demonstrate loyalty reflects his strategic positioning as Trump has begun dismantling Biden-era methane regulations that would have cost his company substantially.

Hildebrand’s Hilcorp owns roughly 11,000 wells across the U.S., primarily “stripper wells” that produce minimal oil and gas but release vast quantities of methane, a greenhouse gas 80 times more potent than carbon dioxide. Though stripper wells generate only 6 percent of U.S. oil and gas output, scientists estimate they account for roughly half the sector’s methane emissions due to minimal monitoring and deteriorating infrastructure. A satellite detected a massive methane plume from a Hilcorp well in New Mexico in June 2024 discharging at 199 kilograms per hour, roughly 12 times the well’s typical daily output, with seven of eight Hilcorp sites visited by Earthworks investigators showing evidence of leaks.

Trump has placed a former Hilcorp lobbyist in a top Environmental Protection Agency position overseeing efforts to dismantle the Biden administration’s aggressive methane restrictions. ProPublica’s investigation found the lobbyist is soliciting input from oil industry trade groups backed by Hildebrand as the administration moves to unravel rules that would have imposed steep compliance costs on Hilcorp. The rollback will provide sweeping relief for the nation’s 700,000 stripper wells while shifting climate costs onto society, as methane contributes one-third of global temperature rise since the Industrial Revolution.

Hildebrand’s rise from modest Texas origins to a $15 billion fortune rests on what analysts call the “dung beetle model,” acquiring aging wells at low cost and slashing expenses to maintain profitability. Environmental records show Hilcorp accumulated dozens of violations over the past decade, including a Cook Inlet pipeline rupture in Alaska that spewed methane for nearly four months in 2016. Penalties rarely exceeded $500,000, with analysts characterizing enforcement fines as routine operating costs rather than meaningful deterrence.

Unlike carbon dioxide, which persists in the atmosphere for centuries, methane breaks down in roughly a dozen years, making methane reductions the most effective near-term climate lever available. Stanford researcher Rob Jackson stated that curbing oil and gas methane emissions offers “the best bang for our buck” in fighting global warming, as existing technology is viable and cost-effective. Hildebrand’s transformation into a major Trump donor in 2024 directly followed the Biden administration’s methane restrictions, positioning him to recoup losses through regulatory rollback rather than operational changes.

(Source: https://www.propublica.org/article/trump-epa-methane-jeffery-hildebrand-hilcorp-oil-regulations?utm_campaign=propublica-sprout&utm_content=1781863145&utm_medium=social&utm_source=facebook&fbclid=IwdGRjcASk-2RleHRuA2FlbQIxMQBzcnRjBmFwcF9pZAo2NjI4NTY4Mzc5AAEew_BzskPcQgTl7GpCk52X3GzIB58MLw0LeGYyiqZyGQYou_R_uJFWqE1CGD8_aem_NkX6som_m3wKpWj623tbYA)