This story was originally published by Popular Information, a substack
publication to which you can subscribe here.
In a Saturday morning military raid ordered by President Trump, US forces
captured Venezuelan President Nicolás Maduro. After Maduro was apprehended and
transported to New York to face criminal charges, Trump announced that the
United States would “run” Venezuela for the indefinite future.
The extraordinary attack, which legal experts said violated US and international
law, has set up a potential windfall for a prominent Trump-supporting
billionaire, investor Paul Singer.
In 2024, Singer, an 81-year-old with a net worth of $6.7 billion, donated $5
million to Make America Great Again Inc., Trump’s Super PAC. He donated tens of
millions more in the 2024 cycle to support Trump’s allies, including $37 million
to support the election of Republicans to Congress. He also donated an
undisclosed amount to fund Trump’s second transition.
This past June, when Trump sought funds to bankroll a primary challenger to
Thomas Massie (R-KY), who had raised his ire by supporting the release of the
Epstein Files, Singer contributed $1 million, the largest contribution.
Since Trump was first elected in 2016, Singer has met personally with Trump at
least four times. “Paul just left and he’s given us his total support,”
Trump declared after meeting with Singer at the White House in February 2017. “I
want to thank Paul Singer for being here and for coming up to the office. He was
a very strong opponent, and now he’s a very strong ally.” (Singer had initially
supported Marco Rubio, who is now Trump’s Secretary of State.)
In November 2025, Singer acquired Citgo, the US-based subsidiary of Venezuela’s
state-run oil company. Singer, through his private investment firm, Elliott
Investment Management, bought Citgo for $5.9 billion. The sale to Amber Energy,
a subsidiary of Elliott Investment Management, was forced by creditors of
Venezuela after the country defaulted on its bond payments.
Elliott Investment Management is known as a “vulture” fund because
it specializes in buying distressed assets at rock bottom prices. Citgo
owns three major refineries on the Gulf Coast, 43 oil terminals, and a network
of over 4,000 independently owned gas stations. By all accounts, Singer acquired
these assets at a major discount.
Advisors to the court that oversaw the sale valued Citgo at $13 billion, while
Venezuelan officials said the assets were worth as much as $18 billion. Maduro’s
government had sought to appeal the court’s approval of Singer’s bid for Citgo.
But now that Maduro has been ousted, it seems unlikely that appeal will
continue.
Singer acquired Citgo at a bargain price in large part due to the embargo, with
limited exceptions, on Venezuela oil imports to the United States. Citgo’s
refiners are purpose-built to process heavy-grade Venezuelan “sour” crude. As a
result, Citgo was forced to source oil from more expensive sources in Canada and
Colombia. (Oil produced in the United States is generally light-grade.) This
made Citgo’s operations far less profitable.
Trump has sought to justify military action against Venezuela as an effort to
disrupt narcotics trafficking. But Venezuela produces no fentanyl and is a minor
source of cocaine that reaches the United States. Trump also
recently pardoned Juan Orlando Hernández, the former president of Honduras, who
was convicted of drug trafficking.
Further, Trump has long made clear that he was interested in Venezuela for the
oil. In remarks to the North Carolina Republican Party in 2023, Trump said that
when he left office in 2021, Venezuela was “ready to collapse.” Trump said, had
he remained in office, the US “would have taken [Venezuela] over” and “gotten
all that oil.”
In remarks on Fox News Saturday, Trump made clear that one of the motivations
for Saturday’s attack was to increase the production and export of Venezuelan
oil. Venezuela has the largest proven reserves of crude oil in the world. Trump
said that, moving forward, the US would be “very strongly involved“ with the
Venezuelan oil industry.
Industry observers anticipate “a rapid rerouting of Venezuelan oil exports,
re-establishing the US as the major buyer of the country’s volumes.” Jaime
Brito, an oil analyst at OPIS, said access to Venezuelan oil imports “will be a
game changer for US Gulf Coast…refiners in terms of profitability.”
If that happens, Paul Singer, thanks to a well-timed transaction, will be one of
the largest beneficiaries.
Tag - Money in Politics
This story was originally published by Vox and is reproduced here as part of
the Climate Desk collaboration.
If you’re reading this, chances are you care a lot about fighting climate
change, and that’s great. The climate emergency threatens all of humanity. And
although the world has started to make some progress on it, our global response
is still extremely lacking.
The trouble is, it can be genuinely hard to figure out how to direct your money
wisely if you want to reduce greenhouse gas emissions. There’s a glut of
environmental organizations out there—but how do you know which are the most
impactful?
To help, here’s a list of eight of the most high-impact, cost-effective, and
evidence-based organizations. We’re not including bigger-name groups, such as
the Environmental Defense Fund, the Nature Conservancy, or the Natural Resources
Defense Council, because most big organizations are already relatively
well-funded.
The groups we list below seem to be doing something especially promising in the
light of criteria that matter for effectiveness: importance, tractability, and
neglectedness.
Important targets for change are ones that drive a big portion of global
emissions. Tractable problems are ones where we can actually make progress right
now. And neglected problems are ones that aren’t already getting a big influx of
cash from other sources like the government or philanthropy, and could really
use money from smaller donors.
Founders Pledge, an organization that guides entrepreneurs committed to donating
a portion of their proceeds to effective charities, and Giving Green, a climate
charity evaluator, used these criteria to assess climate organizations. Their
research informed the list below. As in the Founders Pledge and Giving
Green recommendations, we’ve chosen to look at groups focused on mitigation
(tackling the root causes of climate change by reducing emissions) rather than
adaptation (decreasing the suffering from the impacts of climate change). Both
are important, but the focus here is on preventing further catastrophe.
And this work is particularly important right now, in a world where “climate
attention has collapsed, political support has evaporated, and policy gains are
under sustained assault,” Founders Pledge stressed in its assessment of today’s
politically charged atmosphere. Just last month, the prominent environmental
group 350.org was forced to “temporarily suspend” its US operations because of
severe funding challenges, according to a letter obtained by Politico. They are
among the many groups in the climate movement now buckling under existential
funding cuts.
At the same time, Founders Pledge argues that the climate community massively
underinvested “outside the progressive bubble,” creating a movement that was not
resilient to the shakeup that would come under President Donald Trump. “One of
the main ways we were underprepared was the fact that climate philanthropy
invested overwhelmingly on one side of the political spectrum,” the organization
writes. Now, the experts say, it’s particularly important to invest in
nonpartisan organizations dedicated to defending and expanding upon all of the
progress made so far.
Arguably, the best move is to donate not to an individual charity, but to a
fund—like the Founders Pledge Climate Change Fund or the Giving Green Fund.
Experts at those groups pool together donor money and give it out to the
charities they deem most effective, right when extra funding is most needed.
That can mean making time-sensitive grants to promote the writing of an
important report, or stepping in when a charity becomes acutely
funding-constrained.
That said, some of us like to be able to decide exactly which charity our money
ends up with—maybe because we have especially high confidence in one or two
charities relative to the others—rather than letting experts split the cash over
a range of different groups.
With that in mind, we’re listing below a mix of individual organizations where
your money is likely to have an exceptionally positive impact.
CLEAN AIR TASK FORCE
What it does: The Clean Air Task Force is a US-based nongovernmental
organization that has been working to reduce air pollution since its founding in
1996. It led a successful campaign to reduce the pollution caused by coal-fired
power plants in the US, helped limit the US power sector’s CO2 emissions, and
helped establish regulations of diesel, shipping, and methane emissions. CATF
also advocates for the adoption of neglected low- and zero-carbon technologies,
from advanced nuclear power to super-hot rock geothermal energy.
Why you should consider donating: In addition to its seriously impressive record
of success and the high quality of its research, CATF does well on the
neglectedness criterion: It often concentrates on targeting emissions sources
that are neglected by other environmental organizations, and on scaling up
deployment of technologies that are crucial for decarbonization, yet passed over
by NGOs and governments. For example, it was one of the first major
environmental groups to publicly campaign against overlooked superpollutants
like methane.
In recent years, CATF has been expanding beyond the US to operate in Africa, the
Middle East, and elsewhere. This is crucial: About 35 percent of climate
philanthropy goes to the US and about 10 percent to Europe, which together
represent only about 15 percent of future emissions, according to Founders
Pledge. And this year, CATF has refocused its strategy to zero in on programs
with broad nonpartisan political support to ensure those global efforts have
staying power. This is part of why Founders Pledge is supporting CATF’s efforts
and recommends giving to that organization. CATF is also one of Giving Green’s
top picks.
You can donate to CATF here.
FUTURE CLEANTECH ARCHITECTS
What it does: This Germany-based organization aims to promote innovation in
Europe’s hard-to-decarbonize sectors by running key programs in, for example,
zero-carbon fuels, industry, and carbon removal technologies.
Why you should consider donating: You might be wondering if this kind of
innovation really meets the “neglectedness” criterion—don’t we already have a
lot of innovation? In the US, yes. But in Europe, this kind of organization is
much rarer. And according to Founders Pledge, it’s already exceeded expectations
at improving the European climate policy response. Most notably, it has helped
shape key legislation at the EU level and advised policymakers on how to get the
most bang for their buck when supporting research and development for clean
energy tech. Giving Green recommends this organization, too.
You can donate to Future Cleantech Architects here.
GOOD FOOD INSTITUTE
What it does: The Good Food Institute works to make alternative proteins (think
plant-based burgers) competitive with conventional proteins like beef, which
could help reduce livestock consumption. It engages in scientific research,
industry partnerships, and government advocacy that improves the odds of
alternative proteins going mainstream.
Why you should consider donating: Raising animals for meat is responsible for
more than 10 percent and perhaps as much as 19 percent of global emissions.
These animals belch the superpollutant methane. Plus, we humans tend to deforest
a lot of land for them to graze on, even though we all know the world needs more
trees, not less. Yet there hasn’t been very much government effort to
substantially cut agricultural emissions. Giving Green recommends the Good Food
Institute because of its potential to help with that, noting that “GFI remains a
powerhouse in alternative protein thought leadership and action. It has strong
ties to government, industry, and research organizations and continues to
achieve impressive wins. We believe donations to GFI can help stimulate systemic
change that reduces food system emissions on a global scale.”
You can donate to the Good Food Institute here.
INNOVATION INITIATIVE AT THE CLEAN ECONOMY PROJECT
What it does: When Bill Gates shuttered the policy arm of his climate
philanthropy Breakthrough Energy earlier this year, the US lost a unique
advocate for innovation at a pivotal moment in the country’s energy transition.
Or did it? A group of veteran Breakthrough Energy staff recently launched the
Innovation Initiative—part of a new organization called the Clean Economy
Project—as part of a push to ensure the US continues on the right path in its
energy transition, regardless of which party is in power.
Why you should consider donating: This newly formed project may still be in its
infancy, but its work builds upon years of deep experience advocating for clean
energy innovation across the political spectrum. Founders Pledge helped seed the
new organization with an early grant because “we see the Innovation Initiative
as the best bet for donors who want to support federal energy innovation policy
advocacy at a moment when this ecosystem needs coordination and strategic
leadership,” they said, noting that even small-scale support for such efforts
can spur massive payoffs in the space: “Relatively modest advocacy investments
can influence billions” in federal spending for research and development “that
accelerates breakthrough technologies with global spillover effects.”
You can learn more about the Innovation Initiative here. To donate, send an
email to giving@cleanecon.org, with the subject line “Donating to Innovation
Initiative.”
DEPLOY/US
What it does: This nonpartisan nonprofit works with American conservatives to
enact decarbonization policies, with the goal of reaching net-zero emissions by
2050. DEPLOY/US partners with philanthropic, business, military, faith, youth,
policy, and grassroots organizations to shape a decarbonization strategy and
generate policy change.
Why you should consider donating: In case you haven’t heard of the eco-right,
it’s important to know that there are genuine right-of-center climate groups
that want to build support for decarbonization based on conservative principles.
These groups have a crucial role to play; they can weaken political polarization
around climate and increase Republican support for bold decarbonization
policies, which are especially important now, with Republicans in control of the
White House and Congress. Right now, these right-of-center groups remain
“woefully underfunded compared to both the opportunity and necessity of
correcting a large ideological blindspot of the climate movement that has come
to bite in 2025,” Founders Pledge writes, adding that DEPLOY/US is uniquely
positioned to insulate climate policy against the shifting winds of politics.
You can donate to DEPLOY/US here.
ENERGY FOR GROWTH HUB
What it does: Founded by Todd Moss in 2013, Energy for Growth Hub aims to make
electricity reliable and affordable for everyone. The organization hopes to end
energy poverty through climate-friendly solutions.
Why you should consider donating: While Energy for Growth Hub is not a strictly
climate-focused organization—ending energy poverty is its main goal—it’s still a
leader in the clean energy space. The organization will use your donation to
fund projects that produce insight for companies and policymakers on how to
create the energy-rich, climate-friendly future they’re dreaming of. In June,
the World Bank announced an end to its ban on funding nuclear power projects
after a sustained lobbying effort from Energy for Growth Hub alongside other
think tanks and policy wonks. “We all know that Washington is broken. People
complain that it’s impossible to get stuff done,” Moss wrote in his Substack in
response. “But then, actually quite often, stuff does get done. And sometimes,
just sometimes, things happen because people outside government come together to
push a new idea inside government.”
You can donate to Energy for Growth Hub here.
PROJECT INNERSPACE
What it does: This US-based nonprofit hopes to unlock the power of heat —
geothermal energy—lying beneath the Earth’s surface. Launched in 2022, Project
InnerSpace seeks to expand global access and drive down the cost of carbon-free
heat and electricity, particularly to populations in the Global South. The
organization maps geothermal resources and identifies geothermal projects in
need of further funding.
Why you should consider donating: Most geothermal power plants are located in
places where geothermal energy is close to the Earth’s surface. Project
InnerSpace will use your donation to add new data and tools to GeoMap, its
signature map of geothermal hot spots, and drive new strategies and projects to
fast-track transitions to geothermal energy around the world. The group also
began funding community energy projects through its newly launched GeoFund
earlier this year, starting with a geothermal-powered food storage facility in
Tapri, India, which will offer local farmers more power to preserve their crops.
You can donate to Project InnerSpace here.
OPPORTUNITY GREEN
What it does: Opportunity Green aims to cut aviation and maritime shipping
emissions through targeted regulation and policy initiatives. The UK-based
nonprofit was founded in 2021, and since then has aimed to encourage private
sector adoption of clean energy alternatives.
Why you should consider donating: Aviation and maritime shipping are an enormous
source of global emissions, but receive little attention because international
coordination is difficult around the issue, and there are few low-carbon fleets
and fuels readily available. Even so, in a few short years, Opportunity Green
has managed to gain significant influence in EU and international policy
discussions around shipping emissions, while also helping to bring the
perspective of climate-vulnerable countries into the fray. In 2024, the group
launched a major legal filing against the EU to challenge its green finance
rules. “We think Opportunity Green is a strategic organization with broad
expertise across multiple pathways of influence to reduce emissions from
aviation and shipping,” Giving Green notes. “We are especially excited about
Opportunity Green’s efforts to elevate climate-vulnerable countries in policy
discussions.”
You can donate to Opportunity Green here.
The past several years have seen an explosion of grassroots activism groups
focused on climate—from Greta Thunberg’s Fridays for Future to the Sunrise
Movement to Extinction Rebellion. Activism is an important piece of the climate
puzzle; it can help change public opinion and policy, including by shifting
the Overton window, the range of policies that seem possible.
Social change is not an exact science, and the challenges in measuring a social
movement’s effectiveness are well documented. While it would be helpful to have
more concrete data on the impact of activist groups, it may also be shortsighted
to ignore movement-building for that reason.
The environmentalist Bill McKibben told Vox that building the climate movement
is crucial because, although we’ve already got some good mitigation solutions,
we’re not deploying them fast enough. “That’s the ongoing power of the fossil
fuel industry at work. The only way to break that power and change the politics
of climate is to build a countervailing power,” he said in 2019. “Our job — and
it’s the key job — is to change the zeitgeist, people’s sense of what’s normal
and natural and obvious. If we do that, all else will follow.”
Of course, some activist groups are more effective than others. And it’s worth
noting that a group that was highly effective at influencing climate policy
during the Biden administration, such as the Sunrise Movement, will not
necessarily be as effective today.
“Overall, our take on grassroots activism is that it has huge potential to be
cost-effective, and we indeed think that grassroots movements like Sunrise have
had really meaningful effects in the past,” Dan Stein, the director of Giving
Green, told Vox. But, he added, “It takes a unique combination of timing,
organization, and connection to policy to have an impactful grassroots
movement.”
One umbrella charity that’s more bullish on the ongoing impact of activism is
the Climate Emergency Fund. It was founded in 2019 with the goal of quickly
regranting money to groups engaged in climate protests around the globe. Its
founders believe that street protest is crucially important to climate politics
and neglected in environmental philanthropy. Grantees include Just Stop Oil, the
group that made international headlines for throwing soup on a protected,
glassed-in Van Gogh painting, and Extinction Rebellion, an activist movement
that uses nonviolent civil disobedience like filling the streets and blocking
intersections to demand that governments do more on climate.
If you’re skeptical that street protest can make a difference, consider Harvard
political scientist Erica Chenoweth’s research. She’s found that if you want to
achieve systemic social change, you need to mobilize 3.5 percent of the
population, a finding that helped inspire Extinction Rebellion. And in
2022, research from the nonprofit Social Change Lab suggested that, in the past,
groups like Sunrise and Extinction Rebellion may have cost-effectively helped to
win policy changes (in the US and UK, respectively) that avert carbon emissions.
But the words “in the past” are doing a lot of work here: While early-stage
social movement incubation might be cost-effective, it’s unclear whether it’s as
cost-effective to give to an activist group once it’s already achieved national
attention. The same research notes that in countries with existing high levels
of climate concern, broadly trying to increase that concern may be less
effective than in previous years; now, it might be more promising to focus on
climate advocacy in countries with much lower baseline support for this issue.
There are plenty of ways to use your skills to tackle the climate emergency. And
many don’t cost a cent.
If you’re a writer or artist, you can use your talents to convey a message that
will resonate with people. If you’re a religious leader, you can give a sermon
about climate and run a collection drive to support one of the groups above. If
you’re a teacher, you can discuss this issue with your students, who may
influence their parents. If you’re a good talker, you can go out canvassing for
a politician you believe will make the right choices on climate.
If you’re, well, any human being, you can consume less. You can reduce your
energy use, how much stuff you buy, and how much meat you consume. Individual
action alone won’t move the needle that much—real change on the part of
governments and corporations is key—but your actions can influence others and
ripple out to shift social norms, and keep you feeling motivated rather than
resigned to climate despair.
You can, of course, also volunteer with an activist group and put your body in
the street to nonviolently disrupt business as usual and demand change.
The point is that activism comes in many forms. It’s worth taking some time to
think about which one (or ones) will allow you, with your unique capacities and
constraints, to have the biggest positive impact. But at the end of the day,
don’t let the perfect be the enemy of the good: It’s best to pick something that
seems doable and get to work.
The second Trump administration has made tearing down parts of the federal
government a priority. And some of those efforts have been literal. In October,
President Donald Trump ordered the demolition of the White House’s East Wing to
make way for the construction of a massive 90,000-square-foot ballroom. He’s
also given the White House a gilded makeover, bulldozed the famed Rose Garden,
and even has plans for a so-called “Arc de Trump” that mirrors France’s Arc de
Triomphe.
So what’s behind all of this? Art historian Erin Thompson—author of Smashing
Statues: The Rise and Fall of America’s Public Monuments—says that whether it’s
Romans repurposing idols of leaders who had fallen out of favor or the
glorification of Civil War officers in the American South, monuments and public
aesthetics aren’t just about the past. They’re about symbolizing power today.
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“The aesthetic is a way to make the political physically present,” Thompson
says. “It’s a way to make it seem like things are changing and like Trump is
keeping his promises when he’s actually not.”On this week’s More To The Story,
Thompson sits down with host Al Letson to discuss why Trump has decked out the
White House in gold (so much gold), the rise and recent fall of Confederate
monuments, and whether she thinks the Arc de Trump will ever get built.
Find More To The Story on Apple Podcasts, Spotify, iHeartRadio, Pandora, or your
favorite podcast app, and don’t forget to subscribe.
This following interview was edited for length and clarity. More To The Story
transcripts are produced by a third-party transcription service and may contain
errors.
Al Letson: What is an art crime professor?
Erin Thompson: Well, someone who’s gone to way too much school. I have a PhD in
art history, and was finishing that up and thought, “Oh, I’m never going to get
a job as an art historian. I should go to law school,” which I did, and ended up
back in academia studying all of the intersections between art and crime. So I
studied museum security, forgery, fraud, repatriations of stolen artwork. I
could teach you how to steal a masterpiece, but then I would have to catch you.
So is it fair to say that The Thomas Crown Affair is one of your favorite
movies?
No. Least favorite, opposite-
Really?
… because they make it seem like it’s a big deal to steal things from a museum,
but it’s really, really easy to steal things from museums, as the Louvre heist
just proved.
I was just about to say, I think the thieves at the Louvre would agree with you.
It’s hard to get away with stealing things from museums, which is why they got
arrested immediately.
So how did you move from studying museum pieces and art crime into monuments?
Well, so my PhD is in ancient Greek and Roman arts, and when monuments began
being protested in the summer of 2020 after the murder of George Floyd, people
were commenting online, “Civilized people don’t take down monuments. This is
horrible.” And I was thinking, “Well, studying the ancient world, everything
that I study has been at one point torn down and thrown into a pit and then
buried for thousands of years.” Actually, as humans, this is what we do. We make
monuments and then we tear them down as soon as we decide we want to honor
somebody else. So I thought I could maybe add some perspective. And then having
my skills in researching fraud, I started to realize that so many of the most
controversial monuments in the U.S. were essentially fundraising scams where a
bunch of money was embezzled from people who wanted to support racism,
essentially, by putting up giant monuments to white supremacy. So I thought,
maybe that’s some interesting information for our current debates.
They got got, as they should.
Yeah. Yeah, yeah.
As somebody who grew up in the South, I would just say as a young Black man
growing up in the shadow of these monuments, watching them go down felt like
finally, finally this country was recognizing me in some small way. And I was
completely unsurprised at the uproar from a lot of people who wanted to keep
these monuments up. But when you dig into why these monuments were placed down,
a lot of them were done just … Especially when we’re talking about Civil War
monuments in the South and in other places, they were primarily put there to
silence or to intimidate the Black population in a said area.
Yeah, I call them victory monuments. They’re not about the defeat of the
Confederates, they’re about the victory of Jim Crow and other means of
reclaiming political and economic power for the white population of the South.
Yeah. And so talk to me a little bit about the monuments themselves and how a
lot of those were scams. I had never heard of that before.
So for example, just outside of Atlanta in Stone Mountain, Georgia is the
world’s largest Confederate monument, a gigantic carving into the side of a
cliff of Lee and Jackson and Jefferson Davis. And that was launched in 1914 by a
sculptor, Gutzon Borglum, working with the United Daughters of the Confederacy.
The Klan enthusiastically embraced the project. They stacked the board. They
took a bunch of the donations. Essentially, no progress was made for years and
years and years until the 1950s when as a sign of resistance to Brown v. Board,
the state of Georgia took over the monument and finally finished it. So it
wasn’t finished until the 1970s. And to me, the makers said it should be a
shrine to the South. It’s more like a shrine to a scam.
The Klan leaders who led the project even fired Borglum at a certain point
because they thought he was taking too much money. But he landed on his feet
because he persuaded some Dakota businessmen to sponsor him to carve what turned
into Mount Rushmore. So he defected from glorifying the Confederacy to carve a
monument to the Union. So he didn’t really care about the glory of the
Confederacy, he just wanted to make some money.
So in the United States, how have monuments historically been funded?
Well, the American government, both state and federal has always been a bit of a
cheapskate when it comes to putting up public art. So most monuments that we see
were actually privately fundraised, planned, and then donated to local
governments. So they’re not really public art. They were put up by small groups
for reasons. If you look, for example, at the Confederate monument that used to
be in Birmingham, Alabama, this is a little weird that Birmingham had a
Confederate monument in the first place because they were founded as a city well
after the close of the Civil War. And the monument went up in two parts, both of
which were in response to interracial unionization efforts. So the leaders, the
owners and managers of the mines, when the miners were threatening to strike
said, “No, no, no, no, no, no. We need to remind our white workers that they
have to keep maintaining the segregation that their fathers or grandfathers
fought for, so let’s put up this Civil War Monument.”
So monuments don’t tell you very detailed versions of history, but also even
thinking about history is kind of leading you on the wrong track when you look
at, well, who is actually paying for these monuments top people put up and what
did they actually want from them?
So tell me, just pulling back a little bit, what’s the relationship between
monuments and society?
Monuments are our visions of the future. We put up a monument when we want
people to aspire to that condition. We put up monuments to honor people to
inspire people to follow their examples. So that sounds good and cheerful,
right? It’s nothing wrong with having models and aspirations, but you have to
think about, well, monuments are expensive. So who has the money to pay for
them? Who has the political power to put them in place permanently? And you’ll
often see that monuments are used to try and shape a community into a different
form than it currently has. I live in New York City, for example, and almost all
of the monuments put up until the last few decades are of white men. And what
kind of message does that send to this incredibly diverse community of who
deserves honor?
And you said earlier that throughout time we have erected monuments and taken
them down. Can you talk that cycle through with me?
Yeah. Well, take the Romans, for example. Roman emperors would win a victory at
war and put up a big victory monument, a triumphal arch or portraits of
themselves. And then after the emperor died, the Senate would vote and decide,
was this a good one or a bad one? Do we want to decide officially that they have
become a deity and are to be honored forever, or do we want to forget their
memory? And it was about a third, a third, a third. A third was no vote, a third
were deities, a third were their memories were subjected to what we call
damnatio memoriae. And if that happened to you, they would chisel the face off
your statues and carve on your successor. The Romans were thrifty that way. They
reused sculptures-
Wow. So they recycled.
Yeah, yeah, yeah.
Wow.
Or they would break things up or melt it down and make it into a new statue. So
this was a pretty common strategy of, just like we do it in a much more
peaceable form, when a new president is elected, you take down the photo of the
current president from the post office and put up the successor, etc, etc. So in
the ancient world they had a more intense version of this, but you can think
about the tearing down of statues of Saddam after his fall or the removal of
statues of Lenin across the Soviet satellite states. This is something that we
do when there are changes in power, and usually we don’t notice it because it’s
more peaceful. There’s an official removal of the signs of the previous regime
and a substitution with the others.
So what was special and different about the summer of 2020 was the change came
from below. It was unofficial. We mostly saw people not tearing down monuments
with their bare hands, that’s obviously hard to do, but modifying monuments by
adding paints, signage, projections, etc.
And that’s exactly like what you looked at in Smashing Statues is the shift
that, to me, in a lot of ways had been a long time coming. There had been
movements here and there that were kind of under the radar for most people. But
then after George Floyd, it’s like it got an injection of adrenaline, and
suddenly all over the country you start seeing this stuff happening.
Yeah, and I think people lost patience. What wasn’t obvious to a lot of
observers was that changing a monument or even questioning a monument is illegal
in most of the U.S., or there’s just no process to do so. So I interviewed for
the book Mike Forcia, an indigenous activist in Minnesota, and he had been
trying for his entire adult life to get the state legislator to ask why is there
a statue of Columbus in one of the cities with the largest concentrations of an
urban indigenous population in the world? And all of his petitions were just
thrown away. So he eventually had to commit civil disobedience, I would describe
it, by pulling down the statue. There’s no other way to have that conversation.
Let me ask you, just to go back a little bit, how do these monuments shape and
perceive history? Because you saying that this is what we’ve always done and the
Romans would switch out faces and statues, that’s totally new to me. And so as
somebody who grew up with Confederate statues around or Confederate names always
around, I think it’s shaped the way I view the world. And also as they were
coming down, not knowing that in the long arc of history that this is what we
always do, it challenged the perceptions, I think of a lot of people.
Monuments are inherently simple. You can’t tell a full historical story in a
couple figures in bronze. So I think they communicate very simple messages of
this is the type of person that we honor. And they speak directly to our lizard
brain, the part of us that sees something, “Oh, something big and shiny and
higher than me is something worthy of respect.” So you can’t tell them a nuanced
story in a monument, and that is used as a strength. I also think it’s a
strength that they become boring. They fade into the background of our lived
landscape, and then we don’t question their messages if we just think of the
monument as something, oh, we’re going to tell each other, “Meet at the foot of
this guy for our ultimate Frisbee game,” or something. So it is these moments of
disruption that let us think, “This is supposed to stand for who we are as a
people. Do we really want that guy up on the horse telling us who we are?”
In the aftermath of George Floyd’s death and these statues and monuments are
coming down or they’re being defaced, my little sister lives in Richmond,
Virginia and I went to visit her. And I’ve been to Richmond several times. And I
think I’d seen pictures of the monuments in Richmond being graffiti on them, but
I had not seen them in real life up close. And it was kind of stunning to me.
Also, what was stunning about it, because in Richmond, if you’ve never been to
Richmond, Richmond has like this … I don’t know what street it is, but this long
row-
Monument Avenue.
Monument Avenue, thank you. Has Monument Avenue with all of these different
monuments. After George Floyd, they were spray painted, and people were
gathering around these monuments in a way that I’d never seen before.
I think those monuments went up to create a certain type of community. Monument
Avenue was designed as a wealthy neighborhood, and how do you prevent the quote,
unquote, “wrong type of people” from moving into your nice neighborhood? Well,
put up some nice monuments celebrating Civil War generals. So it’s not-
You tell them they’re not welcome.
Yeah, exactly. So it’s a community created by exclusion, is what these monuments
were put up for. And we actually see that again and again. In Charlottesville as
well, the sculpture of Robert E. Lee that was recently melted down was put up to
mark the exclusion of people from a neighborhood that had formerly been a
neighborhood of Black housing and businesses, which they were condemned by
eminent domain and turned into a cultural and park space that was intended to be
whites only in the 1920s. So monuments are a powerful course for creating
community. But you’re absolutely right that the removal can be a powerful force
for creating community as well. And what saddens me is if you go to Richmond
today, some of the bases of those monuments are still there. The Civil War
monuments have been removed from Monument Avenue, but all of the graffiti has
been scrubbed off. There’s no more people gathering there. It looks just like a
traffic median again. And that’s true of almost everywhere in the U.S. The
authorities are always a bit nervous about this type of spontaneous use of
public space, I would say.
Yeah. Listeners to this podcast have heard me say this 101 times because it’s my
thing, but I just believe that America is a pendulum, that it swings hard one
way and then it comes right back and swings the other way. Which means that in
the long-term, America sees progress in inches, but the swings are where you can
see exactly where the country is right now. And so I think if we look at what
happened after George Floyd died, that was a hard swing the other way. I’m
curious if what we see right now coming from the Trump administration, and not
just like in military, he’s reverting the names or changing the names of
military bases back to people whose names have been taken off these military
bases, all of that type of stuff, but also he’s planning to put an Arc de Trump
in D.C., the East Wing Ballroom, all of that stuff, do you feel like that is the
opposite swing of what we saw during George Floyd’s death?
Oh, yeah. And even literally, recently the Trump administration said that they
were going to reverse removal of statues. So they re-erected a Confederate
general statute in D.C., and they’ve said that they’re going to put up the
Arlington Confederate Monument, which would cost millions and millions and
millions of dollars to put up. So we will see if that actually happens. But just
declaring that you’re going to do it is enough of a propaganda victory, I think,
in this situation.
Right.
It might seem silly or not worthy of attention to look into the Trump
administration’s aesthetic decisions, all of the gold ornamentations smeared all
over the Oval Office and ballrooms and Arc de Trumps, and etc, but the aesthetic
is a way to make the political physically present. It’s a way to rally people’s
energies. It’s a way to make it seem like things are changing and like Trump is
keeping his promises when he’s actually not. I think he hasn’t really changed
Washington in the way that he’s told his base he’s going to change. The elite
are still in control of political power and wealth, but he is literally changing
the White House by tearing part of it down. And you can channel people’s
attention into rooting for that type of change instead of actual change.
And the style choices that he’s making are very congruent with his political
message, in that he’s appealing to a vision of the past, which is greater than
the present. But in both his political message and his aesthetic style, this
vision of the past, you can’t pinpoint it. It’s not an actual time. It’s a
fuzzy, hand-wavy, things were prettier and nicer than. And so you can’t
fact-check that type of vision. You can’t see if we’ve actually gotten closer to
it. And so putting up a gilded tchotchke counts as progress towards that, and he
can claim the credit, which he’s happy to do.
Yeah. And I think that’s intentional, because if you can’t land on the specific
time period, you can’t be held accountable for how that time period played out
for the disenfranchised.
Or for the powerful of that time period.
Right. Right, exactly.
Appealing to making the White House look like Versailles. We all know what
happened to the French kings, but apparently we’re not paying much attention.
And there’s another current right tendency to appeal to the glory of Caesar.
Everybody wants to be like Julius Caesar when that’s really not a good life
choice, if you want to end up like him.
I think the other thing when I think about Trump’s aesthetic, so I grew up in
the South but I am originally from New Jersey, and I remember Trump when I was
really young, primarily because my dad was from Pleasantville, New Jersey, which
is right outside of Atlantic City. And so there were conversations that I didn’t
understand as a kid, and Trump was a part of those because he had his casinos
and all of that type of stuff. And I just remember being a little kid and seeing
a commercial for, I guess either it was Trump’s properties or it was a casino or
whatever. And I just remember looking at it on the TV and seeing gold
everywhere. That was his thing, gold. And the older I get, the more I realize
that the way Trump sees gold and all the fittings that he has around, really is
like him surrounding himself what he perceives of as wealth, and what people who
don’t have wealth perceive of as wealth.
But the actual uber-rich, usually from what I’ve seen, do not decorate their
houses in all gold, do not flaunt. Their wealth is present but quiet, whereas
Trump’s wealth is present but loud. And that speaks to a lot of people who do
not have the wealth. And in a sense, him putting gold around the White House is
a secret, in my opinion, aspirational message to poor folks who do not have
that, “One day you can have.” I don’t know, it’s just like a theory that I’ve
been cooking in my head since I was a little kid.
I think absolutely. We have the proverb, “All that glitters is not gold” because
people keep needing to be reminded. And yeah, again, in our primitive lizard
brains, we think shiny equals good and I want that, and we don’t look below the
surface. And I think that Trump’s focus on glitzing up the White House, on
making these new constructions now in his second term is not accidental, because
you often see populist leaders focusing on aesthetic projects towards the end of
their political life. In Hitler’s last days in the bunker, he was still pouring
over models for a museum that he was building in his hometown of Linz, in which
he was planning to put all of the masterpieces seized from victims of the
Holocaust from other museums across Europe. It was going to have 22 miles of
galleries, all stuffed full of the artistic wealth of the world.
And I think there’s a comfort in this idea. Like, if I make something
spectacular and beautiful enough, all of the cruelty that went into making it
will be justified. I will be forgiven. So when I’m feeling depressed about the
world, I think maybe this focus on the gold now is such an obsession because he
recognizes that he’s on his way out.
What does it mean to a society that some of the tech leaders are now turning
their attention towards building statues? You were just talking about how
leaders when they’re beginning their twilight are … I guess they’re thinking
about their legacy, and so they’re putting up these monuments and doing other
things. But what does it mean for us when we have these tech bros that are doing
it now?
Well, we’ve always seen this. Think about the Pantheon in Rome, that big
circular temple. Across the front of it, you can still see the shapes of the
letters that it used to have that was erected not by an emperor, but by a
wealthy Roman who was doing so in service of the imperial cause. So big donors
making big, splashy public projects have always been realizing that this is a
good way to get in with the regime to shape things, to get loyalty from the
public to their point of view as well. So today you look at people’s reactions
to Elon Musk is very similar, I think to what you were talking about, the idea
of, “I can also have this splashy level of wealth maybe someday, so I will
follow somebody who I could see as a model of getting wealth, rather than
someone who is actually going to do anything that’s actually good for me.”
Do you think that the Arc de Trump will ever be built?
That’s the thing about these Trumpian aesthetic actions, you can just put out
the promise, you can release a picture of the renderings and claim victory, even
though you haven’t actually done anything. I very much doubt that this arch is
going to go up for a huge variety of reasons, but if it would go up, I don’t
understand how it can be justified to spend that much money. When on the one
hand you’re saying we are trying to cut government expenditure, there’s no
justification for having tens of millions probably going on an arch to yourself.
Jin Kang, the CEO of a telecom and IT company, was talking to stock analysts
this past spring, when he was asked about the company’s prospects for winning
government contracts.
Kang said his firm, WidePoint, had technology that could help the Department of
Homeland Security track down cellphones given to immigrants who had been
released on bail, pending deportation hearings. All the company needed was a
foot in the door.
“So we’ve been trying to get access to Tom Homan and the folks over at DHS at
the secretary level,” Kang said. “I think we’ve gotten some…traction, but it’s
too early to tell, but we are knocking on the doors of the various political
operatives so that they could get us in the door to talk about the potential
savings that we could provide.”
Kang’s statement stands out because Homan, prior to joining the second Trump
administration as its “border czar,” ran a consulting firm that helped companies
pursue government contracts. It does not appear that WidePoint was a Homan
client, but other current contractors were. Homan has vowed, as federal ethics
guidance advises, to stay out of federal procurement decisions.
> “We are knocking on the doors of the various political operatives so that they
> could get us in the door.”
Kang’s claim is even more striking in light of news reports that Homan was
recorded last year accepting $50,000 in a Cava bag from undercover FBI agents
posing as businessmen paying for help winning government contracts in a second
Trump administration. Homan has said he did nothing illegal and has stated that
he “didn’t take $50,000 from anybody.” Trump’s Justice Department ultimately
dropped the matter after investigators, according to Attorney General Pam Bondi,
“found no credible evidence of any wrongdoing.” The White House has called the
FBI probe “a blatantly political investigation” by the Biden administration.
Kang’s WidePoint, which won a DHS cellphone contract in the last months of
President Donald Trump’s first term and is angling to win another worth up to $3
billion, is just one of several companies that have reportedly tried to enlist
Homan’s help in drumming up federal contracts.
In June, Homan met with companies seeking contracts to build new immigration
detention facilities, Bloomberg reported. Many of those contracts are being
awarded by the US military, and Homan, according to the report, “was then
expected to discuss the matter with Secretary of Defense Pete Hegseth.”
In addition, a review by Mother Jones and the Project On Government Oversight
shows that a number of Homan’s former clients from his time in the private
sector have been awarded lucrative border and immigration-related contracts
during the second Trump administration. Those projects include constructing
private prisons, sprawling migrant detention camps, and a section of border
wall. It is not clear whether Homan has played any role in helping his former
clients land these deals—the White House says he has no involvement in the
“actual awarding” of contracts.
Regardless, the pattern highlights what critics call the legalized corruption of
Washington. While Homan denies taking a bag of cash to rig a contract, he openly
ran a business in which he traded on his years of government work and high-level
contacts to help clients who paid him prosper in the procurement process. Now
that he is back in government, even the impression that he can influence federal
contract awards creates the appearance of corruption, ethics experts argue.
Among would-be contractors, “the perception is that Homan can put in a good
word—whether compensated or not compensated in cash, with or without a bag
man—and in some sense, the damage is done,” said Kathleen Clark, a law professor
at Washington University in St. Louis who studies government ethics. Homan’s
perceived influence, even after the alleged bag incident, sends “the
message…that this is not disqualifying and people who want some portion of the
trough that is DHS at this point can look to Homan, among others, for
assistance,” Clark said.
Homan referred questions to White House spokesperson Abigail Jackson, who
dismissed concerns.
“As the Border Czar, Tom Homan occasionally meets with a variety of people to
learn about new developments and capabilities to serve the needs of the American
people – in doing so he continues to adhere to the federal ethics and [conflict]
of interests rules,” Jackson said. “Tom has no involvement in the actual
awarding of a government contract. Tom is a career law enforcement officer and
lifelong public servant, with the utmost integrity, who is doing a phenomenal
job on behalf of President Trump and the country.”
A White House official also said Homan “has not had any conversations, nor been
involved in any conversations,” with WidePoint or any of the other companies
discussed in this article “regarding contracts or business interests.” The
official said Homan, a White House employee, has “no role in deciding or
awarding contracts for DHS.”
Homan was well-situated to capitalize on his insights and government
connections. He spent three decades working for the US Border Patrol and in 2013
was appointed to a high-ranking position with ICE by President Barack Obama—a
post in which Homan pioneered the idea of using family separations as a tool to
discourage illegal immigration.
Homan stayed on into the first Trump administration, but left his role as acting
ICE director in June 2018—soon after the public outcry over family separations
reached a fever pitch.
> Homan’s consulting company boasted that it has “a proven track record of
> opening doors.”
Apparently, he already had been planning a leap to the private sector. In May
2018—just days after he announced that he would leave the administration—the
state of Virginia approved paperwork incorporating a new business he founded,
called Homeland Strategic Consulting. He spent the rest of Trump’s first term
and the Biden years transforming himself from a lifetime government official
into an advocate with insider perspectives and connections to the powerful for
the many business interests trying to score government deals.
As of last December, the website of Homan’s consulting company boasted that the
firm has “a proven track record of opening doors and bringing successful
relationships to our clients, resulting in tens of millions of dollars of
federal contracts to private companies.”
In 2021, Homan’s firm registered to lobby in Texas for Fisher Sand & Gravel, a
North Dakota-based construction company that was seeking work building portions
of border wall. Texas records show Fisher paid Homeland Strategic Consulting up
to $186,000.
Fisher is a controversial company. In 2019, it built short sections of border
wall in Texas and New Mexico. The work was financed by “We Build the Wall,” an
effort involving Steve Bannon in which organizers crowdsourced private donations
to fence off the country from Mexico. In 2020, We Build the Wall founder Brian
Kolfage, Bannon, and two other men were charged with defrauding donors by
misappropriating money they raised. While the other three defendants were
convicted and jailed, Bannon escaped federal prosecution when Trump pardoned him
hours before leaving office in 2021. Bannon pleaded guilty in February to
defrauding donors in a similar case brought by Manhattan’s district attorney.
The sections of wall Fisher did complete have been lambasted as poorly built. In
2022, Fisher reached an undisclosed agreement with the Justice Department to
settle a lawsuit over the project. Fisher has also repeatedly been sued by
environmental groups.
But Fisher, whose CEO Tommy Fisher has supported many GOP lawmakers, has tapped
Trump world support to continue landing contracts. Last year, with Homan’s help,
the company scored a $225 million contract from Texas to build a new section of
border wall there. And in June 2025, this erstwhile Homan client won a $309
million contract from Customs and Border Protection to build a 27-mile section
of wall in Arizona’s Santa Cruz County. The company did not respond to
inquiries.
Fisher isn’t the only former Homan client continuing to seek federal contracts
that intersect with Homan’s White House portfolio.
USA Up Star, a company that specializes in quickly constructing temporary
buildings in response to emergencies, is a former client of Homan’s that donated
$100,000 to the Trump-Vance inauguration committee in January and $15,000 in
June 2024 to a pro-Trump super-PAC called Right for America. A Federal Election
Committee database does not show any other corporate contributions from that
company, though its owner and president, Klay South, previously donated to PACs
supporting Ron DeSantis.
In the months before the 2024 election, according to Bloomberg, “USA Up Star
executives had regular calls and meetings with Homan to explore an expansion
into immigration detention.” The construction company, Bloomberg reported, was
pitching “a sprawling tent camp in El Paso, Texas, where people would be held in
pens and surveilled from overhead by guards in wooden structures.”
This September, the US Navy awarded a massive border security and immigration
enforcement contract to dozens of companies, including USA Up Star. The deal
could ultimately be worth up to $20 billion for each contractor over several
years, according to a government press release. The contract includes work
providing “safe and secure confinement for aliens in the administrative custody
of Department of Homeland Security (DHS) and U.S. Immigration and Customs
Enforcement (ICE),” per contracting records, as well as less controversial work,
such as providing support in response to natural disasters.
In response to written questions, South declined to comment. He also wrote: “Get
Fucked.”
Another past Homan client is SE&M Solutions, a Pennsylvania-based consulting
firm that, like Homan’s former consultancy, helps other companies win government
contracts. SE&M’s CEO is Charles Sowell, who also serves as chairman of the
board of the Border911 Foundation, a border security-focused nonprofit founded
and led by Homan. According to Sowell’s bio, he served in the Navy for 27 years,
managed a Texas-based federal facility for unaccompanied migrant children in
2021, and attended the Border Patrol Industry Academy. USA Up Star is also an
SE&M client, per reporting from ProPublica. SE&M’s website has touted “access to
senior leaders in government.”
In August, according to Bloomberg, two SE&M clients met with Mark Hall, a top
adviser to Homan who works in the administration. Hall is a former longtime
Border Patrol agent who also served as a Border911 Foundation board member.
(Another former board member is Rodney Scott, the head of Customs and Border
Protection, the parent agency for the Border Patrol.) SE&M Solutions and
Border911 did not respond to requests for comment.
And then there’s GEO Group, a private prison behemoth that runs a sprawling
network of immigrant detention centers. ICE’s largest contractor, GEO Group also
offers related services such as transporting detainees and tracking immigrants
who are not detained. Homan reported on his financial disclosure form that he
had worked as a consultant for GEO’s health care arm during the prior year.
GEO Group donated $500,000 to the Trump-Vance inauguration. That’s in addition
to 2024 contributions from GEO’s political action committee, senior executives,
and a GEO subsidiary totaling more than $1 million to Trump-aligned political
entities, according to a Project On Government Oversight review of Federal
Election Commission records.
GEO has seen its fortunes rise this year as the current administration has set
new records for the number of people held in immigration detention, recently
hitting 66,000. The population of detainees is up nearly 70 percent since
Trump’s inauguration—the vast majority have no criminal convictions. Since
Inauguration Day, ICE has awarded GEO new detention contracts collectively worth
hundreds of millions of dollars per year.
“This represents the largest amount of new business we have won in a single year
in our Company’s history,” George Zoley, GEO Group’s executive chairman, said in
a November statement.
GEO did not respond to a request for comment. But it has been vocal about
benefiting from the Trump administration’s immigration policies. “As a
long-standing support services provider for ICE with a 40-year-long track
record, we believe we are uniquely positioned to assist the agency to meet its
objectives,” Zoley said over the summer.
This story was reported with the Project On Government Oversight.
Samantha Michaels contributed reporting.
On Wednesday, the Supreme Court will hear oral arguments over President Donald
Trump’s decision to impose tariffs on almost every nation on earth, in
ever-changing amounts, whenever he feels like it. Legally, this is a case about
any number of complicated questions and legal doctrines, including the
president’s ability to declare emergencies under the International Economic
Emergency Powers Act, the court’s novel major questions doctrine, its dormant
non-delegation doctrine, the proper venue for challenging the tariffs, and the
proper statutory interpretation of IEEPA.
> “This is not just a battle over tariffs.” It’s a battle over just who is in
> charge of the GOP.
But these questions will almost certainly be window-dressing on a decision
driven by how Chief Justice John Roberts and the other five Republican
appointees navigate between the two stakeholders in this case: the powerful
billionaires and business interests behind the challenge to the tariffs and
Trump’s desire to transform the economy into an arm of his personalist rule.
“This is not just a battle over tariffs,” explains Evan Bernick of the Northern
Illinois University College of Law. “It is a battle between competing political
economies within the American right. And how it works out will speak to just who
ultimately has hegemony, who… is shaping the law of the United States.” While
Bernick expects the businesses and states challenging the tariffs to prevail,
“if they do not,” he says, “that tells me things about the relative power of
these competing factions that I did not previously know.”
In February and again in April, Trump cited IEEPA when imposing his sweeping—and
sometimes very high—tariffs, some of which he went on to pause. While the
Constitution grants Congress the power to impose tariffs, Trump claimed his
actions were a legitimate use of that 1977 law, which gives presidents power to
respond to “any unusual and extraordinary threat” from abroad, even though IEEPA
doesn’t specifically name tariffs as an available tool. The court is hearing two
consolidated cases brought by multiple small businesses. Some of the companies’
challenges were brought with support from ideologically conservative and
libertarian nonprofits funded by wealthy Republican-allied donors, most notably
the Koch network.
For decades, the Kochs and their fellow-traveling tycoons, along with the
religious right, channeled millions of dollars into a project to capture the
Supreme Court, successfully creating a loyal 6-3 conservative majority.
Beginning in 2005 with Roberts’ nomination, the Federalist Society vetted
Republican nominees and their allies helped win their confirmations with lots of
money. As Lisa Graves, who leads the judicial watchdog group True North Research
and has published a new book on Roberts, recently told me, “Roberts is really
the beneficiary of the first billionaire-backed campaign to capture the US
Supreme Court.” He’s spent the last 20 years implementing their agenda.
The Roberts Court consistently rules for the interests of this small set of
billionaire political donors, whose money flowed to the Federalist Society and
other activist groups that helped each of the Republican-appointed justices
reach the high court. Further, under Roberts, these members of the court have
increased the political power of the GOP and its wealthiest patrons. For
example, the court has been dismantling the Voting Rights Act to the benefit of
the GOP, a project they will likely finish in the next few months. It has also
cut the power of labor unions, and, by overturning the long-held practice of
courts deferring to agency expertise, declared open season on federal
regulations that industry dislikes. In its stead, the justices invented the
major questions doctrine to justify striking down executive regulations the
court decides are “major” and that don’t have clear authorization from Congress,
and created increasingly radical interpretations of the unitary executive theory
that have weakened agency independence so that partisan politics can destroy
industry regulation.
This clear preference for moneyed interests was detailed by employment lawyer
Scott Budow in a 2021 law review article on how the Roberts Court has changed
labor and employment law. He discussed 15 cases in which the justices cast a
collective 134 votes. “There is no unifying judicial philosophy—such as
originalism or textualism—that neatly explains why conservative justices would
reliably vote in one manner and liberal justices in the opposite manner for
these cases,” he concluded. “Yet, if all one knew was that conservative justices
favor employers and liberal justices favor workers, that person would have
correctly predicted 132 of the 134 votes cast.” That is 98.5 percent of the
time.
“Trying to interpret or anticipate what’s going to happen in cases involving
Trump inside the four corners of legal reasoning will fail, and hasn’t really
explained almost anything the Robert’s court [has done] for the last 20 years,”
says Michael Podhorzer, the former political director of the AFL-CIO. “Instead,
if you step back and think about the interests that elevated the six of them to
the court, then that is really very clarifying.”
> This case has big business going up against the president.
In their 2022 book The Scheme: How the Right Wing Used Dark Money to Capture the
Supreme Court, Sen. Sheldon Whitehouse (D-R.I.) and attorney Jennifer Mueller
breakdown not only the story of how a small handful of rightwing families and
groups channeled millions to put allies on the court, but how they also fund an
array of legal outfits to bring cases and file amicus briefs—filings that help
to signal to the justices which way their benefactors hope they will rule. As
Whitehouse and Mueller write, between 2014 and 2020, 16 rightwing foundations
gave nearly $69 million to 11 groups that filed amicus curiae briefs urging the
court to hobble the Consumer Financial Protection Bureau, which guards against
predatory financial industry practices, as well as more than $33 million to the
Federalist Society. These groups include the Washington Legal Fund, the Pacific
Legal Foundation, the New Civil Liberties Alliance, and the Liberty Justice
Center—all of which have used Koch money to challenge labor unions and weaken
government regulations. Repeatedly, the GOP wing of the court has handed these
organizations, and their donors, major victories.
Those same four legal groups that worked so hard to disempower unions and
destroy the regulatory state are now before the court with a new request: stop
Trump’s arbitrary tariffs. They have a strong case, at least under the Roberts
court’s precedents—after all, the justices have created a brand new doctrine,
the major questions doctrine, and used it to strike down regulations without
clear statutory authorization that industry doesn’t like. Tariffs on nearly
every nation are by every measure “major” actions that can make or break
businesses and reshape both the US and world economies.
But unlike in other major questions doctrine cases, when industry was pitted
against Democratic priorities like environmental regulations or student debt
relief programs that the six conservative justices struck down, this case has
the business community going up against the president.
Trump, too, has been on a winning streak before the six GOP justices, who have
repeatedly used their emergency or shadow docket to greenlight the president’s
agenda, from slashing the federal bureaucracy to detaining suspected immigrants
based on the color of their skin. As of last month, Trump had won some 21
emergency appeals to the court. The Republican wing even restricted lower
courts’ authority to grant relief from Trump’s policies. The logical conclusion
is that the justices are either on board with Trump’s authoritarian project,
protective of his political coalition, or possibly also afraid to cross him for
fear he disobeys their orders. Perhaps it is a combination of these factors, but
the result is a court that contorts itself—or remains completely silent—in order
to repeatedly rule in Trump’s favor. As Justice Ketanji Brown Jackson wrote in a
dissent in August, analogizing her colleagues jurisprudence to a make-believe
game from Calvin and Hobbes: “Calvinball has only one rule: There are no fixed
rules. We seem to have two: that one, and this Administration always wins.”
But this time, the administration is up against the court’s other preferred
client, and one of their winning streaks must come to an end. One view of what’s
coming starts with the solid premise that while ultrawealthy business interests
don’t agree with all of Trump’s agenda, they prefer him to a Democrat. If we
presume that Roberts and the court’s other Federalist Society recruits similarly
view Trump as an essential—even if often misguided—element of their project,
then they will try to limit his tariffs without strongly rebuking him. “I think
the calculus that they’re going through is basically, ‘Would trying to stop him
there lead to electoral defeat, or not? Is it too damaging to them?’” says
Podhorzer, who also expects the court “at a minimum” will “do something that
trims or constrains” Trump’s claimed tariff powers.
“It’s important to look at whatever they end up doing as a reflection of where
that business community is right now,” he adds. A decisive victory for Trump
might signal that big business will tolerate a tariff regime in which they write
multi-million dollar checks to Trump’s ballroom project in exchange for
waivers—although they don’t seem to be there yet because, after all, they did
help bring this challenge in the first place. A big Trump win could also signal
that the justices themselves sense a fundamental shift in where power lies on
the right, from the moneyed interests that created the court to the openly
authoritarian MAGA movement.
Legally, there are a lot of ways the justices could resolve this case. But it
will be more illuminating to think of the Republican wing not as judges weighing
arguments but as mediators seeking a compromise between two competing factions
of the same team.
It is apparently not enough for America’s anti-tax crusaders that Congress just
passed one of the most expensive and regressive tax bills in our history. The
Washington Post reports that Grover Norquist’s Americans for Tax Reform and
other conservative groups are now urging the Trump administration to change how
investment profits are taxed—unilaterally, if need be—in a way that would
overwhelmingly favor the wealthiest Americans.
Sound familiar?
Namely, they want to index capital gains to inflation. Suppose I bought $100,000
worth of Apple stock on July 10, 2020 and kept it. Today, I could sell that
stock for $170,383—a tidy $70,383 profit. That’s a 74 percent overall return and
an average annual return of 11.7 percent. Pretty good, right?
Not good enough for Norquist et al.
These players want to let me adjust the “cost basis”—the price I originally paid
for the stock—for inflation. Using this inflation calculator, I could then tell
the IRS that my initial $100k investment was in fact a $120,407 investment, and
so my profit for tax purposes is only $40,976.
This is insane—for several reasons.
First, read the room. Congress just passed a megabill whose benefits are deeply
skewed in favor of the wealthy. Its tax provisions and spending cuts, taken
together, will result in a 4 percent increase in average after-tax income for
the richest 1 percent of American households and a nearly 4 percent decrease for
the poorest 20 percent, based on the Yale Budget Lab’s analysis. This is very,
very unpopular.
The bill will at least $3.3 trillion to the national debt—more like $5 trillion
if expiring provisions are extended in the coming years. And indexing capital
gains to inflation, according to 2018 estimates from the Tax Policy Center and
the Penn Wharton Budget Model, would add yet another $100 billion to $200
billion to the tab—with the richest 1 percent reaping 86 percent of the
benefits.
> “I don’t think reducing [capital gains rates further] will change investor
> behavior,” says billionaire Mark Cuban.
Norquist told the Washington Post he recently spoke with President Donald Trump
and recommended the president implement the change with an executive order.
Indexing capital gains to inflation was considered during Trump’s first term,
the Post‘s Jeff Stein reports, but Treasury Secretary Steve Mnuchin felt
Congress should handle it—current secretary Scott Bessent may prove more
complaint. “I said something like, ‘Mr. President, after we do the bill, we will
need more economic growth,” Norquist told Stein. “The Big Beautiful Bill is very
pro-growth, but with this, we can have even more growth.’”
In reality, not one of the Republican tax packages enacted since Ronald Reagan
became president has lived up to its sponsors’ economic promises. “The economy
may well enjoy a sugar-high the next couple of years, as borrowing stimulates
near-term consumption,” Maya MacGuineas, president of the nonprofit Committee
for a Responsible Federal Budget, said in a statement after Congress passed the
“One Bie Beautiful Bill” on July 3. “But a sugar-high won’t be sustained, it
will do real damage, and often what comes next is the crash.”
As for the notion of indexing fueling “more growth,” the billionaire investor
Mark Cuban told me in an email that he thinks the current tax rates on capital
gains are fair, and “I don’t think reducing it will change investor behavior.”
Yet the fairness of those rates—and their justification—is the subject of fierce
debate. Suppose I’m a wealthy investor and I sell assets I’ve held for at least
12 months—stocks, bonds, real estate, or even, say, a stud racehorse—netting my
family $1,000,000 in profits. The federal tax on those capital gains ranges from
zero for the first $94,000 to 20 percent for the portion that exceeds $583,750.
Because my spouse and I have income of more than $250,000, we also have to pay a
3.8 percent “net investment income tax.” This all adds up to an effective tax
rate of about 19 percent.
But tax rates for wage income are much higher. A couple reporting $1,000,000 in
salary income pays an effective rate of about 30 percent. That’s a huge
difference, and part of why families whose money comes from primarily from asset
growth have amassed wealth so much faster than working families have. It no
lefty exaggeration to say America’s economic system is rigged against workers
and in favor of investors. It’s right there in the tax code.
> “This kind of proposal will only widen the economic inequality we’re facing.”
So how do conservative policy wonks justify the low capital gains rates? A key
argument, interestingly, is that inflation eats away at the value of long-term
gains. One “solution” would be to index the gains to inflation, notes the
libertarian Cato Institute, “but most countries instead roughly compensate” by
offering reduced tax rates for investors.
And now the anti-taxers want to have it both ways.
Investors enjoy other economic advantages, too. Notably, their gains are counted
as income only when the assets are sold. In practice, this allows people with a
large portfolio of appreciated assets to borrow against their holdings at
single-digit interest rates and live off those loans instead of selling assets
and paying a double-digit tax. As ProPublica discovered, many of America’s
wealthiest families have been doing precisely that. (As a result, from 2014 to
2018, Jeff Bezos paid an effective income tax rate of less than 1 percent.)
Or say you have a $100 investment that grows by 10 percent a year during a
period of 2 percent annual inflation. The first year’s profit, after inflation,
is $8. “But I don’t pay tax on that $8 until I sell, which may be decades
later,” says Bob Lord a former tax attorney and associate fellow at the
Institute for Policy Studies. “I’m basically getting a free ride on the
appreciation of that $8 portion of my investment.” Doesn’t that benefit, he
asks, more than offset any detriment from inflation?
And also, isn’t investing supposed to contain an element of risk management?
Isn’t the ability to beat inflation part of what separates a savvy investor from
a useless one? Indexing for inflation, combined with favorable tax capital gains
rates and an exemption for unrealized gains—doesn’t that basically reduce
investing to shooting fish in a barrel?
It is worth noting, too, that most Americans work for a paycheck, and the ones
who make their living via investing are by and large quite wealthy. More than
half of Americans now own some stock, but not much. As of January 2024, per
Federal Reserve data, 93 percent of US stock holdings were owned by the most
affluent 10 percent of the population, and the richest 1 percent owned more than
half of all public equities—not to mention private equities.
Indexing gains to inflation “would really codify the notion that income taxes
are only for people who work for a living,” says Morris Pearl, a former managing
director at BlackRock and current chairman of the board of Patriotic
Millionaires, a nonprofit that advocates for higher taxes on the rich.
If the Trump administration were to attempt the change Norquist
recommended—unilaterally or otherwise—its not even clear how it would work. You
would presumably need to make changes on both the profit and loss sides of a
balance sheet. Kyle Pomerleau, a senior fellow with the right-leaning American
Enterprise Institute, has concluded that indexing is complex and unlikely to
generate significant economic impact, and is therefore “more trouble than it’s
worth.”
“Indexing has been rejected in the past to avoid opening new tax shelters,” says
Steven Rosenthal, a Washington tax policy expert and former legislation counsel
for the congressional Joint Committee on Taxation. “If investors were permitted
to index their assets, but not required to index their liabilities,
debt-financed investments would explode. Investors could exclude profits and
deduct interest. But indexing both assets and liabilities is a mess, which I, as
a congressional staffer, discovered when we tried to draft it.”
“This kind of proposal will only widen the economic inequality we’re facing,”
adds Patriotic Millionaires’ Pearl. “It’s absurd that all I would need to do is
buy property that I can rent out, and make a lot of money, and never have to pay
taxes again!”
This story was originally published by Popular Information, a substack
publication to which you can subscribe here.
The Federal Communications Commission will no longer enforce a rule capping the
price of prison phone calls, according to an announcement made Monday by FCC
Chairman Brendan Carr.
The move suspends a 2024 FCC decision that capped the price of in-state phone
calls at 6 cents minute for prisons and large jails and 7 cents per minute for
medium-sized jails. Before the decision, a 15-minute phone call could cost as
much as $11.35 at large jails in some states. Under the 2024 rules, those same
phone calls would cost 90 cents.
This week’s FCC announcement states that the suspension of the 2024 rules will
apply until April 1, 2027. But it also says that the FCC will use that time to
consider making permanent changes to the rule. Carr claims that the 2024 rules,
which started going into effect on January 1 on a staggered basis, are “leading
to negative, unintended consequences.”
> The current system incentivizes prison operators to award contracts to
> companies that charge exorbitant fees.
The 2024 FCC decision followed the passage of the Martha Wright-Reed Just and
Reasonable Communications Act of 2022, which gave the FCC authority to regulate
the price of in-state phone calls from prisons and jails. The legislation was
named after Martha Wright-Reed, who spent two decades fighting for lower prices
for prison phone calls as she struggled to afford spending over $100 per
month to call her incarcerated grandson. At times, Wright-Reed had to
skip medication payments and even cut back on groceries in order to afford the
calls. In 2000, Wright-Reed sued CoreCivic, a private prison operator, arguing
that the company’s exclusive contracts resulted in excessively high prices.
Monday’s statement was blasted by FCC Commissioner Anna Gomez, who argued that
not enforcing the 2024 rules violates the Martha Wright-Reed Act, as the
law directed the FCC to “implement the statutory provisions not earlier than 18
months and not later than 24 months after the date of its enactment.” Gomez said
that the FCC is making the “indefensible decision to ignore both the law and the
will of Congress.”
Incarcerated people have said that the high cost forces them to choose between
spending money on phone calls or purchasing personal hygiene items, or even
shoes. One mother told CBS News in 2020 that she and her husband spent “$14,268
over the past two years” so that their incarcerated son could make phone calls.
On top of the exorbitant per-minute rates, incarcerated people are charged
additional fees, including as much as $4 to connect the call, which could be
charged multiple times if the call drops.
In 2024, the FCC estimated that capping the price of phone and video calls
“would save incarcerated people and their families, friends and legal teams
about $386 million.” The Prison Policy Initiative estimated that the industry
costs families of incarcerated people “nearly $1 billion a year.”
Studies have shown that visitation and phone calls from family decrease the
chances that an incarcerated person will commit another crime.
So why is the FCC suddenly suspending the lowered price caps for prison phone
calls? Follow the money.
The high cost of prison phone calls is a cash windfall for the private prison
industry, which spent vast sums to help elect Trump president.
The companies that provide prison telephone services offer kickbacks, known as
“commissions,” to prison operators to secure lucrative contracts. This means up
to 50 percent of the money incarcerated people spend on telephone calls is
routed back to the company or government that operates the prison. This system
incentivizes prison operators to award contracts to companies that charge
exorbitant fees, creating a larger pool of money for kickbacks.
For private prison companies like GEO Group and CoreCivic, kickbacks from
telephone service providers are a lucrative revenue stream. How much money do
these companies make from commissions? The industry no longer discloses those
figures. But in 2012, according to SEC filings, the GEO Group made
over $600,000 in site commissions from phone services. That figure is likely
much higher today.
The FCC rule on phone rates would have ended this practice, banning kickbacks
for prison operators. But, like the caps on phone charges, the kickback ban is
now on hold.
During the 2024 campaign, GEO Group, through its PAC, was the first company to
make the maximum contribution to Trump’s campaign. The same day, two top GEO
Group executives, CEO Brian Evans and board chairman George Zoley, each donated
$11,600 to the Trump Save America Joint Fundraising Committee. Later, a GEO
Group subsidiary, GEO Acquisition II, donated $1 million to Make America Great
Again PAC, a pro-Trump super PAC. GEO Group used the subsidiary to evade a
federal law that prohibits government contractors from making political
donations. After Trump won, GEO Group and CoreCivic each donated $500,000 to
Trump’s inauguration committee.
Both Tom Homan, Trump’s border czar, and Attorney General Pam Bondi have
previously been on the payroll of GEO Group. According to his federal financial
disclosures, Homan received consulting fees from GEO Group in 2023 and 2024.
Homan was not required to disclose the exact amount he was paid by the GEO
Group, except that it was more than $5,000. Bondi worked as a lobbyist for GEO
Group in 2019.
In the order delaying the rule, the FCC explicitly cited the “financial burdens”
imposed on prison operators through inhibiting their ability to collect
commissions. The FCC claims that, without the ability to receive commissions or
charge high prices, many facilities would stop allowing incarcerated people to
make phone calls. This conclusion is largely based on claims made to the FCC by
the corporations profiting from the existing system.
For a couple weeks, I’ve been getting negative campaign mailers for a New York
City council district I don’t live in. I’m not really sure why. Maybe there was
a data-entry error. Maybe someone’s used an outdated map. Maybe someone hates
me.
They’re the sort of mailers you tend to get if you live in a major city these
days. Paid for by an innocuous-sounding group called New Yorkers for a Better
Future, they attack the incumbent council member—a Democratic-Socialist—for
supporting drug injection sites and decriminalizing prostitution, and backing
calls to defund the police. The incumbent “doesn’t care about our community,”
the flyer reads. And there, at the bottom, is a legally required disclosure of
one of the PAC’s largest donors: William A. Ackman.
You know, Bill.
The Trump-backing, DEI-bashing, billionaire hedge-funder who does not live in
this immigrant-heavy, largely Asian and Latino outer-borough district
either—despite all that language about “our community.” He purchased a posh
Upper West Side penthouse a few years back. And, from what I can tell, he spends
a lot of time in the Hamptons. If X were a real place, he’d probably live there.
But he still funneled $250,000 toward this group. And that disconnect makes him
a perfect symbol for this week’s elections in America’s biggest blue city.
In a lot of ways, as I’ve reported, the city’s Democratic primary elections are
the first big test of the party’s post-November reset. The choice in the mayoral
race between former governor Andrew Cuomo and a succession of challengers led by
assemblymember Zohran Mamdani, is, in part, about what exactly you think
Democrats have been getting wrong in the places they govern. But it’s also about
money. Mamdani had a lot of it—almost $9 million, with most of it coming from
public matching funds. But Cuomo’s super-PAC, Fix the City, raked in nearly
three times what the assembly member could spend—with big checks from
corporations and billionaires. Those funds have filled mailboxes and saturated
the airwaves in the election’s final weeks.
There’s a funny little wrinkle to all this spending, though. You sometimes hear
people say that politicians should have to dress up like NASCAR drivers, in
outfits emblazoned with the logos of their corporate benefactors. Well, New York
City kind of does that. Every piece of literature or advertising from a
political action committee has to include the names of the three largest donors
to the group. Has this dampened the influence of money in politics within the
five boroughs? It doesn’t really look like it. Still, every piece of Cuomo
literature voters got from Fix The City had to include the disclaimer that it
was paid for by DoorDash ($1 million), along with Ackman ($500,000), and former
mayor Michael Bloomberg ($8.3 million).
There were more interesting names if you scratched the surface. Media mogul
Barry Diller and Netflix chairman Reed Hastings gave a quarter of a million.
Home Depot co-founder and Republican mega-donor Ken Langone gave $100,000.
Pro-Trump hedge-funder Dan Loeb gave $350,000. James and Kathryn Murdoch offered
$50,000 apiece. So did Stephen Ross, who lives in the borough of West Palm
Beach, Florida and owns the Miami Dolphins. Alice Walton, of the Bentonville,
Arkansas Waltons, pitched in with a humble offering of $100,000. Both Greenwich,
Connecticut’s Jeff Wilpon, and the man he sold the New York Mets to—Stamford’s
Steve Cohen—were good for $25,000. Another pro-Cuomo PAC, Sensible City,
received a big check from Trump-backing hedge-funder Ken Griffin, who lives in
Miami by way of Chicago.
If Mamdani’s campaign is trying to demonstrate the power of organizing and viral
campaigning, Cuomo’s is just a big blunt object—one that tells a different story
about how politics and power work. These donors from the worlds of real estate,
finance, media, and “philanthropy” each have their own peculiar politics. But
faced with the prospect of a progressive or leftist mayor, the things that unite
them have proven stronger than the things that divide them. Across different
backgrounds and zip codes (if not tax brackets) they came together in an
inspiring show of class solidarity.
In one attack ad paid for by Fix the City, which the PAC paid $220,000 to run, a
voter stands on a subway platform rattling off Mamdani’s promises of “free
everything.”
“Who’s gonna pay for all that,” he asks. “The tooth fairy?”
But it wasn’t such a mystery after all. Mamdani was proposing for the city’s
wealthiest residents to foot the bill. The advertisements asked who would be
paying for everything. And there, in the list of donors at the end, they
answered the question too.
This story was originally published by WIRED and is reproduced here as part of
the Climate Desk collaboration
Last week, the US Department of the Interior announced that it would speed up
the approval process for certain fossil fuel projects, proclaiming that
environmental analyses that previously would have taken years must now be taken
down to, at maximum, a month. While the new procedures are seemingly a gift to
the industry, this may actually be terrible news for pipeline developers,
drillers, and miners.
“If I were a developer of any of these projects, I would look at this order and
smack my forehead,” says Sam Sankar, a senior vice president at Earthjustice,
the United States’ biggest environmental nonprofit law organization. “I don’t
want my project to be authorized pursuant to these laughable procedures. It
won’t hold up in court.”
> “Virtually anything they do under these new legal procedures will be ripe for
> a legal challenge.”
The new procedures use President Donald Trump’s “national energy emergency,”
proclaimed in an executive order in the first week of his presidency, to shorten
timelines for federal reviews, including environmental reviews and reviews
attached to cultural landmarks. Reviews that take into account a project’s
impact on the environment are particularly truncated under this new policy.
Processes that would normally take a year, the Department of the Interior says,
must now be completed within just two weeks, while those reviews that might last
longer than a year must now be done in under a month.
Experts say, however, that the new timelines are so short that they almost
certainly run afoul of the bedrock laws involved: the National Environmental
Policy Act (NEPA), the Endangered Species Act, and the National Historic
Preservation Act. Mass, ongoing layoffs inside the federal government—including
at Interior, where the Washington Post reported that a quarter of the agency’s
staff may eventually be cut—means that there may soon be far too few staff to
handle reviews that would be near impossible to fulfill even in normal
circumstances.
This leaves any projects that try to break ground under the new timelines open
to very easy legal challenges—something that Sankar says is “low-hanging fruit”
for people who are impacted by a project and who want to take a developer to
court.
“The people who wrote NEPA and the Endangered Species Act meant for the public
to be involved, meant for real expertise to be applied, and meant for these to
be meaningful ways to protect the environment and biodiversity,” Sankar says.
“To shorten these periods to where you can barely get a letter from point A to
point B in that time means that they’re not trying to comply at all. The good
news is that it’s all so manifestly illegal that virtually anything they do
under these new legal procedures will be ripe for a legal challenge.”
These fast-forwarded processes are tied to a part of NEPA that states that
agencies can bypass environmental reviews in case of an emergency. Ryan
Hathaway, who worked on NEPA-related issues within Interior for more than a
decade, says that this emergency justification has been used in the past for
concrete events that pose an immediate threat to health and public safety,
like wildfires or floods, with specific actions that needed to be taken—rather
than a vague and open-ended energy “emergency.”
> “There cannot be ‘US energy dominance’ and $50-per-barrel oil; those two
> statements are contradictory.”
“Lawyers are going to have a field day with this,” says Hathaway, who now works
as a director at Lawyers for Good Government, a legal nonprofit dedicated to
progressive advocacy.
It’s clear these new rules are exclusively a gift to extractive industries like
drilling and mining. Solar and wind projects—which the administration has
repeatedly attacked, withdrawing leases for offshore wind and ordering
a construction halt on projects already underway—are notably absent from the
list of projects allowed to undergo accelerated timelines. But ironically, these
orders are only contributing to an increasingly uncertain environment for fossil
fuel producers under the new Trump administration.
Even before the chaos caused by Liberation Day, Big Oil faced a potential
reckoning with the president it helped elect. While the shale oil boom of the
early 2010s rewarded executives for increased production, that strategy led to
too much supply, leading prices per barrel to drop during the first Trump
administration. After prices bottomed out during the pandemic, investors became
more careful about unrestrained production.
“It’s not government regulation that’s limiting the production growth rate in
the United States. It’s Wall Street,” says Clayton Seigle, a senior fellow at
the Center for Strategic and International Studies, a think tank based in
Washington, DC.
The industry was given a boost in the early 2020s with the worldwide energy
crisis caused by Russia’s invasion of Ukraine, but investors kept a cautious eye
on prices. Despite President Joe Biden’s climate focus, the US oil and gas
industry became the world’s biggest crude oil producer in 2023, and reached
a record high of producing 13.4 million barrels per day late last year. The
challenge under the Trump administration would become balancing profitability
with the president’s goal of unleashing “energy dominance.” Trump, after all,
has stated that he wants oil to drop to $50 a barrel—a price far too low to be
profitable for the industry.
Each quarter, the Federal Reserve Bank of Dallas publishes a regional report on
the state of the oil and gas industry in Texas, Louisiana, and New Mexico, which
includes anonymous survey responses from executives. The vitriol towards the
White House in these comments from the first survey of this year, published in
late March, shocked analysts.
“The key word to describe 2025 so far is ‘uncertainty’ and as a public company,
our investors hate uncertainty,” one anonymous executive said. “This uncertainty
is being caused by the conflicting messages coming from the new administration.
There cannot be ‘US energy dominance’ and $50 per barrel oil; those two
statements are contradictory.”
“’Drill, baby, drill’ is nothing short of a myth and populist rallying cry,”
another wrote.
Trump has continued to hand out questionable gifts to industry. On Thursday,
Interior announced that it had changed some policies around offshore drilling in
the Gulf of Mexico that could, according to the agency, increase production in
the Gulf by up to 100,000 barrels a day. Meanwhile, Interior is also reportedly
assembling a list of fossil fuel deposits on public lands that it plans to open
up for production.
Like the accelerated timelines for environmental permitting, these gifts come
with significant strings attached. While the Gulf order will help companies
currently producing to up their productivity, they’re unlikely to lure new
customers to the region: Offshore drilling is expensive, and four-fifths of the
more than 2,000 active leases in the Gulf are sitting unused.
And while opening up public lands to drilling may sound like an industry
wish-list item, companies faced with an uncertain American regulatory
environment—from the looming threat of tariffs to accelerated permitting
timelines that could get projects held up in court to promises made under a
Republican administration that may be withdrawn the next time a Democrat is
president—may not want to invest years and capital in starting up a project in a
risky area.
“For more than a century, energy companies have looked at projects in part based
on the host country’s political risk, but the United States wasn’t on that
list,” Seigle says. “These days we see huge swings in political support for oil
and gas, and the trend of reversing the prior administration’s approach. So
energy companies and their investors are now thinking about the political risk
of energy projects right here at home.”
After a French court found far-right leader and former presidential frontrunner
Marine Le Pen guilty of embezzlement on Monday—a conviction that will bar her
from holding political office for five years—some of President Donald Trump’s
closest allies are boosting baseless conspiracy theories alleging that Le Pen’s
conviction is part of a global scheme to keep right-wing populists from holding
office.
Le Pen is reportedly accused of wrongfully diverting $5 million in funds
earmarked for the European Parliament to staffers of her nationalist, xenophobic
party, the National Rally, over a 12-year period. The verdict makes her
ineligible to run in the country’s next presidential election in 2027—and comes
after she was polling at 37 percent, more than 10 points ahead of her closest
challenger. Le Pen has run for that office three times before, and became more
popular as right-wing political parties across Europe rose in prominence in
recent years; in the 2022 presidential runoff, Le Pen earned 41.5 percent of
votes to President Emmanuel Macron’s 58.6 percent. (Macron is term-limited.)
In addition to being ineligible to hold office as a result of the conviction, Le
Pen will also have to serve two years’ house arrest and pay a fine of more than
$100,000. The politician has denied wrongdoing and said she intends to appeal
the charges, which she dismissed on French television Monday night as “a
political decision” intended to prevent her election. “The rule of law has been
completely violated by this decision,” Le Pen added. (Sound familiar?)
A variety of right-wing politicos from around the world condemned the verdict.
Hungary’s authoritarian Prime Minister Victor Orbán posted on X, “I am Marine!”
Former Brazilian President Jair Bolsonaro—who will face a trial on accusations
of inciting a 2022 coup attempt seeking to overturn the election he lost, the
country’s Supreme Court ruled last week—characterized Le Pen’s conviction to
Reuters as “left-wing judicial activism.” And Le Pen’s protégé, National Rally
president Jordan Bardella, alleged that “French democracy…is being executed” by
the verdict.
You might think Trump’s cronies would abstain from commenting and count
themselves lucky that their guy managed to evade criminal conviction himself for
his efforts to overturn the 2020 election results. But you’d be wrong.
Trump allies couldn’t help but characterize Le Pen’s conviction as evidence that
the American president, too, had been unfairly targeted in his many court cases.
“When the radical left can’t win via democratic vote, they abuse the legal
system to jail their opponents. This is their standard playbook throughout the
world,” Elon Musk wrote on X in a post Monday morning, which had more than 16
million views by that afternoon. Musk made those comments when he re-shared a
post from Mike Benz, a former Trump State Department official who previously
posted racist conspiracy theories online and interacted with white nationalists
under a pseudonym, according to a 2023 NBC News report. The Benz post that Musk
re-shared on Monday grouped Le Pen and Trump with a series of others accused, or
convicted, of crimes—”[Jair] Bolsonaro in Brazil, Imran Khan in Pakistan, Matteo
Salvini in Italy…Călin Georgescu in Romania”—and alleged, “The criminal
prosecution of every populist challenger is a dagger in the heart of the
credibility of democracy.”
In response to another post from Benz boosting the conspiracy theory about the
Le Pen verdict, Musk wrote: “This will backfire, like the legal attacks against
President Trump.” (But Trump has not, in fact, been immune from court rulings:
Several court orders have successfully halted or even reversed some of his most
outlandish moves since taking office for the second time, such as his attempts
to overturn birthright citizenship and fire thousands of probationary federal
workers. Trump was also found guilty of 34 felony counts of falsifying business
records in the hush-money payments he made to Stormy Daniels, and found liable
by a jury of sexually abusing and defaming E. Jean Carroll.)
Responding to a post from X user Alex Lorusso—executive producer of the
right-wing commentator Benny Johnson’s Benny Show on YouTube —that alleged,
“they’re trying the same playbook they did to Trump in France,” Musk wrote:
“Same playbook everywhere.” And in response to a two-minute video posted by Eva
Vlaardingerbroek, a right-wing Dutch political commentator characterizing the Le
Pen verdict as “lawfare against the European right-wing,” Musk replied:
“Unreal.”
Donald Trump Jr. also got in on the baseless paranoia, writing in his own post:
“France is sending le Pen [sic] to jail and barring her from running?! Are they
just trying to prove JD Vance was right about everything?” (He was presumably
referring to the vice president’s well-documented disdain for Europe.) Trump Jr.
made that post while re-posting another from Robby Starbuck—a conservative
activist who brags about getting corporations to roll back their diversity,
equity, and inclusion (DEI) efforts—claiming that “the left in France” was
behind the “BS charges” Le Pen was convicted of.
Trump does not appear to have publicly commented on Le Pen’s conviction yet, and
spokespeople for the White House did not immediately respond to requests for
comment from Mother Jones about whether the president supports Musk’s and Trump
Jr.’s claims.
There is no evidence to support the idea that Le Pen’s conviction was
politically motivated; instead, it’s a reminder that despite Trump’s successful
evasion of punishment himself, nobody—not even an aspiring president—is above
the law in a truly healthy and just democracy. It’s no wonder this concept
triggers the Trump crowd.