February 6, 2026/Media, Press

NEW FROM POLITICO: Michael Whatley’s Oil Investments Spike Tens of Thousands of Dollars after Trump Admin’s Actions in Venezuela

POLITICO: “What Whatley didn’t mention is that he and his family have up to a million plus dollars invested in three major oil companies that saw spikes in their shares after President Donald Trump said he would increase oil production in Venezuela”

Breaking reporting from POLITICO reveals DC insider Michael Whatley personally financially profited after the Trump administration pledged to increase oil production in Venezuela – in a single weekend reaping up to $63,000 from his investments in Big Oil companies.

Whatley is a “longtime oil lobbyist” who represented Exxon Mobil, Chevron, and ConocoPhillips for years, holding “up to a million plus dollars” in investments in the major oil companies. The massive spike in Whatley’s shares over a single weekend raises alarms about his conflicts of interest as a former lobbyist and DC insider running for the U.S. Senate, advocating for major policy issues that directly benefit his bottom line.

“DC insider Michael Whatley is pushing for the very policies and actions that enrich himself, and now he wants to go back to Washington where he can vote to benefit his bottom line,” said NCDP Spokesperson Mallory Payne. “Whatley has spent years leveraging his insider connections as a lobbyist and will only be looking out for his own bank account in the U.S. Senate. North Carolina families deserve better.”

 

POLITICO Influence: Whatley’s windfall

Daniel Lippman | February 5, 2026

 

  • FIRST IN PI: North Carolina Republican Senate candidate Michael Whatley has praised the Trump administration for its ouster of Venezuelan President Nicolás Maduro, calling it “a very important step.” He said he was “so proud” of how Delta Force handled his capture, Daniel L. reports.

 

  • What Whatley didn’t mention is that he and his family have up to a million plus dollars invested in three major oil companies that saw spikes in their shares after President Donald Trump said he would increase oil production in Venezuela, according to his personal financial disclosure filed in late November.

 

  • Whatley, a former energy lobbyist, and his immediate family own between $321,000 and $890,000 in stock in Chevron, which is the only American oil major operating in Venezuela. The company is their largest individual holding, according to a PI analysis of the disclosure. They also own between $83,000 and $245,000 in stock in Exxon Mobil and between $3,000 and $45,000 in shares of ConocoPhillips.

 

  • After the Venezuela operation, those companies’ share prices jumped after Trump pledged to revive the nation’s energy sector. Between Jan. 2 and when the market opened on the Monday morning after the raid, Chevron stock increased 6.3 percent, Exxon Mobil went up 2.1 percent and ConocoPhillips rose 4.6 percent. The increase in the shares would have boosted the value of the Whatley family’s investment in those companies between $22,000 and $63,000, according to PI calculations. All three companies’ share prices have continued to go up significantly since.

 

  • Whatley, a onetime staffer for the Energy Department and for then-Sen. Elizabeth Dole (R-N.C.), is a former longtime oil lobbyist who helped launch and lead the Consumer Energy Alliance, an oil-backed advocacy group. Chevron, Exxon Mobil and ConocoPhillips have been affiliated with the group for more than 15 years.

 

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