From CNBC: 2024-06-02 16:41:22

During a Caucus Night watch party in Las Vegas, North Dakota Governor Doug Burgum shook hands with Donald Trump, sparking rumors of a potential VP pick for the former president. Burgum denied claims that Trump promised to reduce regulations in exchange for campaign donations from oil executives.

Trump reportedly told top oil executives he would reverse environmental rules and prevent new ones if they raised $1 billion for his re-election. Burgum, who endorsed Trump for president in January and advises him on energy policy, denied these claims, insisting there was no quid pro quo.

Burgum’s family leases farmland to Continental Resources, the largest oil leaseholder in North Dakota, for oil and gas pumping. Despite making up to $50,000 in royalties since late 2022 from the deal, experts estimate they’ve earned thousands more since signing the contract in 2009.

As Burgum faces criticism for his ties to the oil industry, he remains unconcerned about alienating young voters concerned with climate and environmental policies. The software entrepreneur announced his decision not to seek a third term as governor, with his second term ending in December.

Read more: ‘No quid pro quo’ between Trump and oil execs, Gov. Burgum says