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Republican presidential candidate and former president Donald Trump shakes hands with North Dakota Gov. Doug Burgum and Vivek Ramaswamy, left, at a campaign rally at the The Margate Resort in Laconia, NH on Monday, January 22, 2024.

Jabin Botsford | The Washington Post | Getty Images

If former President Donald Trump taps North Dakota Gov. Doug Burgum to be his running mate, the biggest beneficiary of the partnership could be someone else entirely: Harold Hamm, the billionaire founder of shale oil drilling giant Continental Resources, could end up with two powerful allies in a Trump White House.

Burgum’s ties to Hamm and the shale oil drilling giant he founded are complex. Continental is the largest oil and gas leaseholder in North Dakota, where oil and gas is biggest industry by revenue.

The two men also have a friendship outside of business: Burgum recently contributed a rave review blurb to Hamm’s new memoir. And during his 2023 state of the state address, Burgum compared Hamm favorably to President Theodore Roosevelt, describing Hamm as a person “whose grit, resilience, hard work and determination has changed North Dakota and our nation.”

But Burgum has an even more personal link to Continental: Burgum’s family leases their 200 acre farm land in Williams County to the energy giant for pumping oil and gas, according to previously unreported business records and a federal financial disclosure report.

Burgum made up to $50,000 in royalties while he was governor since late 2022 from the deal with Continental Resources, according to his financial disclosure, details of which have not been reported.

Experts told CNBC that Burgum and his family business likely made thousands more from the agreement with Continental Resources since signing a contract with the company in 2009.

This link between Burgum and Continental highlights one of the potential risks for Trump of selecting a running mate who has lived most of his adult life in private.

Burgum has never been subjected to the kind of scrutiny that someone like Sen. Marco Rubio, Fla., has undergone, and from which Rubio has emerged politically intact.

Burgum endorsed Trump in January, a month after he dropped out of the Republican primary for president. Since then, he has become an adviser to Trump on energy policy and joined a shortlist of contenders to be the former president’s running mate.

Hamm, meanwhile, is one of Trump’s biggest supporters in the industry. Burgum, Hamm and other industry advocates were reportedly at a meeting at Trump’s private club in Florida Mar-a-Lago, where the former president called on oil and gas executives to donate $1 billion to his campaign in exchange for his plan to roll back environmental regulations.

Hamm is co-hosting an event for Trump that’s sponsored by the former president’s political action committee, Make American Great Again Inc., on May 22, according to an invitation.

Continental Resources donated $1 million to the super PAC in April, according to Federal Election Commission records. Hamm gave $614,000 to the Trump 47 Committee in March.

Burgum’s oil deal with Continental

The original agreement between the Burgum Farm Partnership and Continental Resources was signed by Bradley Burgum, the governor’s late brother, according to a land lease reviewed by CNBC.

Burgum’s spokesman Mike Nowatzki told CNBC the contract was drawn up years before the governor was sworn into office in 2017.

“North Dakota is a leading energy producer, including the No. 3 oil producing state. Tens of thousands of families and mineral owners have similar arrangements,” Nowatzki said. “As the publicly available disclosures show: The cited agreement began many years before he became governor.”

Nowatzki did not answer specific questions about the deal, Burgum’s role with the family business or his relationship with Hamm.

A spokeswoman for both Continental Resources and Hamm, its executive chairman, did not respond to a request for comment. A spokesman for the Trump campaign did not return a request for comment.

CNBC obtained Burgum’s personal financial disclosure by a request to the Federal Election Commission. His business records were acquired through the North Dakota secretary of state’s office.

Data from North Dakota’s Minerals Department shows that the locations of the oil and gas wells matches the coordinates of Burgum’s family farm on his business records. The state’s data does not identify Burgum’s address, but the section where the farm and seven of Continental Resources wells are located within a small township named Brooklyn.

All seven wells have been active since 2011, just two years after Burgum’s family signed an agreement with Continental Resources. The wells have produced over 5,000 barrels of oil and thousands of cubic feet in natural gas in March alone, according to the latest data from Drilling Edge. It’s unclear how many of the seven wells are located directly on the Burgum property.

Burgum was elected governor in 2016 and reelected to a second term in 2020. He’s not running for reelection in 2024.

The Burgum Farm Partnership LLP, which oversees the family farm land in Williams County and Cass County, is worth between $500,001 and $1 million, according to the financial disclosure.

Doug Burgum is a managing partner of the Burgum Farm Partnership, and he signed the businesses’ latest annual report in March. Burgum’s financial disclosure says the governor is a non managing member and the company is a “family investment” limited liability partnership.

The company’s annual report that was filed to the secretary of state’s office in April lists Burgum, his late brothers’ children, his sister Barbara and his own three adult children as managing partners of the family business.

The oil and gas land deal says Continental Resources provides the Burgum Farm Partnership 19% of the proceeds from the sales of oil and gas Continental sold after it was pumped from the Burgum property, according to the contract and experts who reviewed the records.

“The Burgum Farm Partnership will receive 19% of the proceeds of the sales,” said Edward Hirs, an energy fellow at the University of Houston, in an email after reviewing the contract.  “The greater benefit is that the Burgum Farm Partnership does not have to invest any money to drill the wells, collect the hydrocarbons (no pipes, no tanks, no roads).”

The royalty payments arrive in monthly and quarterly installments, according to the agreement.

The sun sets behind a pumpjack during a gusty night on March 24, 2024 in Fort Stockton, Texas.

Brandon Bell | Getty Images

Experts note that land holders leasing their property to oil and gas companies can make thousands of dollars more beyond the royalties in bonuses and other payments.

“The company will usually pay the land owner a ‘bonus’ for signing the lease (usually hundreds or thousands of dollars per acre, depending on how hot the market might be),” said Jack Balagia, an adjunct professor at the University of Texas and former general counsel for Exxon Mobil. 

Ryan Kellog, a professor at the University of Chicago who reviewed the contract, said the document does not disclose details of a bonus to the Burgum farm company, except to just give a low range of how much was paid.

“The up-front bonus payment is not disclosed,” Kellog said. “It’s just listed as ‘$10 and more’ where the ‘more’ is potentially significant. Bonuses are almost never disclosed in leases,” Kellog said.

The Burgum contract also says that the family business made money from Continental Resources through one initial down payment called “paid-up” on the lease, with no details provided on how much Burgum and his family saw from that part of the agreement.

“By paid-up, a lease where all cash for the term of the lease is paid upfront, and by a rental form, we mean one with a down payment and rental payments once a year after that,” said Ted Borrego, an adjunct professor at the University of Houston Law Center.

Burgum drilling contract raises questions

North Dakota Governor Doug Burgum encourages voters to support Republican presidential candidate and former President Donald Trump during a campaign rally in the basement ballroom of The Margate Resort on January 22, 2024 in Laconia, New Hampshire. 

Chip Somodevilla | Getty Images

Neither of Burgum’s two financial disclosures from his successful runs for governor reveal a land deal with Continental Resources. North Dakota only requires candidates for state office to disclose the names of businesses that do not act as their principal source of income. No other details are required to be disclosed.

Since Burgum first ran for governor in 2016, he’s disclosed to the North Dakota secretary of state’s office that he and his wife Kathryn have a financial interest in over a dozen companies, including Burgum Farm Partnership.

But those three page state records do not specify how much of a financial interest they have in these companies, nor any money they make from those businesses. 

A candidate for president or Congress is required to disclose many more details, including a range of income from each of their assets during the previous 12 months.

Burgum’s federal disclosure report spans 26 pages and reveals scores of closely held LLCs, partnerships and assets. With a net worth easily in the hundreds of millions, the Continental lease forms only a small part of Burgum’s income streams.

Burgum and Trump aligned on energy

Ultimately, it may not matter to Trump whether Burgum has been fully vetted, if the governor is the person he wants on his ticket.

For Trump, Burgum represents a key ally in the oil and gas business, as the former president looks to raise money from the industry’s executives.

Dan Eberhart, who runs oil and gas drilling company Canary, said a Trump/Burgum ticket could help to accomplish this.

“Choosing Burgum would bring more industry donors to Trump’s orbit,” Eberhart said in a recent interview.

“Nominating Burgum as VP would send a strong signal to the industry that we would have an important voice in a potential Trump administration,” he added.

U.S. President Donald Trump greets Harold Hamm after he was introduced by Hamm at the Shale Insight 2019 Conference in Pittsburgh, Pennsylvania, U.S., October 23, 2019.

Leah Millis | Reuters

Government ethics watchdogs have also started to take notice of the relationship between Trump, Hamm, Burgum and others linked to the oil and gas industry.

“The fact that Mr. Burgum has an income producing, oil and gas lease arrangement with Continental Resources itself raises its own concerns, since Continental Resources’ executive chairman, Harold Hamm, recently participated with other oil and gas executives and Mr. Burgum in the Mar-a-Lago meeting Mr. Trump held last month seeking $1 billion in fundraising from those in attendance,” said Canter.

“Under these circumstances, Mr. Burgum seems to be uniquely positioned to benefit himself both financially and politically depending on what he is able to bring to the table that would serve the respective interests of Trump and Hamm,” she said.

Hamm’s company has had extensive business in North Dakota for over a decade and the state is ranked in the top three states to produce oil.

In 2022, Hamm announced Continental Resources was investing $250 million into a pipeline that spanned 2,000 miles to capture carbon dioxide and pump it underground for storage in North Dakota. Last year, Hamm donated $50 million to a North Dakota based library.

Hamm’s alliance with Burgum preceded a donation Continental Resources made to a PAC that backed the North Dakota governor when he ran for president. The company gave $250,000 to the pro-Burgum Best of America PAC in July, according to FEC filings.

Burgum’s gubernatorial campaign has regularly been backed by other executives in the oil and gas industry, according to data from the nonpartisan OpenSecrets.

Burgum’s successful campaign for governor in 2020 received over $35,000 from those in the oil and gas industry. That amount is second only to the over $1 million Burgum put into his campaign.

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MAN electric semi truck gets real as series production begins

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MAN electric semi truck gets real as series production begins

MAN Trucks are always good for a headline, but despite the company’s pro-battery bluster they’ve barely managed to get 200 battery electric semi trucks on the road … until now that is: the company announced that series production of its heavy-duty eTruck prime mover is officially underway!

We’ve been huge fans of MAN Trucks’ CEO Alexander Vlaskamp since last year, when he had the courage to explain a simple truth: that it’s impossible for hydrogen to effectively compete with battery electric when it comes to a viable fuel for transportation.

Since then, we’ve talked a bit about MAN’s early BEV customers — but with just 200 trucks on the road, they’ve been few and far between. That’s all set to change now that MAN Executive Board Member for Production Michael Kobriger, together with Manfred Weber, Member of the European Parliament and Chairman of the EPP, gave the go-ahead to start the eTruck production line at the company’s Munich plant.

From now on, both electric and diesel trucks will be produced in a fully integrated mixed production process on the same line, with enough capacity to produce up to 100 eTrucks per day. (!)

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 “The start of series production of our electric trucks is historic. It marks a turning point in our history,” explains Vlaskamp, enthusiastically. “The future of MAN begins now, at this very moment. The entire MAN team is proud to be actively shaping the transformation from diesel to electric drive. Our highly efficient electric trucks will make locally emission-free freight transport a reality. This is an enormously important step towards achieving our goal of becoming CO2-neutral by 2050. The fact that we can manufacture the electric trucks on the same production line as our state-of-the-art diesel trucks also gives us enormous flexibility and increases production efficiency.”

MAN says the plant’s maximum capacity is 100 trucks per day, citing about 8 hours to produce one of its heavy-duty semis. The interesting thing, though, is that it doesn’t seem to matter whether those 100 trucks are diesel- or battery-powered.

Flexible assembly


“The production of electric or diesel trucks on a single line can be flexibly adapted to market developments, and the vehicles can be built exactly in the order in which they are ordered by customers. This innovative concept is accompanied by extensive changes along the assembly line as well as in the supply chain and logistics,” says Kobriger, citing that while ICE trucks are initially fitted with axles, tanks and exhaust systems, the electric models are instead fitted with two batteries under the cab together with a “power pack” of electrical components.

All 5,000+ Munich-plant MAN employees have been trained in high-voltage technology in preparation for this “transformation” of the facility. The company says it has 700 of its 740 km (about 450 mile) battery electric trucks already sold, with more sales sure to come as availability ramps up to meet demand.

Electrek’s Take


Historic: MAN starts series production of electric trucks
Historic: eTruck production begins; via MAN.

Betting against Tesla has been bad business for well over a decade now, but with MAN now capable of putting out about as many electric semi trucks in a single day as Tesla has in the last ::checks notes:: eight years since the official launch of the Tesla Semi concept, it’s hard to imagine them catching up — and harder still to see them catching up with Volvo or Renault, each of who have logged tens of millions of electric semi miles in recent years.

That said, Tesla has beaten legacy brands with massive, seemingly insurmountable leads before – but the good news is that, when it comes to EVs, whoever wins, we kind of all win, you know? Even Elon! That’s my take, anyway. Head down to the comments and let me know yours.

SOURCE | IMAGES: MAN Trucks.

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NYC creates new department to hassle e-bike delivery riders

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NYC creates new department to hassle e-bike delivery riders

New York City is creating a new department aimed at cracking down on e-bike delivery workers, and critics say it’s the latest move in a growing pattern of targeting micromobility riders instead of the real threats on the road.

Buried inside NYC’s new $116 billion city budget is a plan to hire 45 new unarmed peace officers tasked with enforcing laws against delivery cyclists, particularly those riding e-bikes and mopeds. The new officers will work under the just-announced Department of Sustainable Delivery, a division of the Department of Transportation set to deploy in 2028.

Mayor Eric Adams says the department will help improve street safety and hold delivery app companies accountable for the pressure they put on gig workers. “The newly created Department of Sustainable Delivery is yet another step that we’re taking to support delivery workers, keep pedestrians safe, and hold delivery app companies accountable for placing unrealistic expectations on their workers that put New Yorkers in harm’s way,” Adams explained in a published statement.

But the move is already raising red flags among advocates for delivery workers and cycling safety, who warn that these efforts could lead to increased surveillance and policing of low-income, often immigrant workers, many of whom already operate under grueling conditions just to make ends meet.

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The officers will be trained to issue moving violations and enforce commercial cycling laws, though city officials haven’t clarified exactly how they’ll distinguish between a reckless rider and one simply hustling to meet the often unrealistic delivery windows imposed by apps like Uber Eats, DoorDash, and Grubhub.

While Adams frames the effort as a safety initiative, critics argue it’s another example of micromobility scapegoating. Just last month, he imposed a 15 mph speed limit on e-bikes across the city, in a move that advocates say ignores the realities of urban riding and fails to address the vastly greater danger posed by cars and trucks. The administration also moved to undo a redesign of Bedford Avenue in Brooklyn, rolling back a protected bike lane project that city data showed had improved safety.

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Delivery riders in NYC, many of whom are immigrants working long shifts in all weather conditions, overwhelmingly use e-bikes to cover more ground, more quickly. These workers have been essential to the city’s economy, especially during the COVID-19 pandemic. Yet they continue to face increasing scrutiny from law enforcement, often for minor infractions, even as drivers of multi-ton vehicles are rarely held to the same standard.

City Council spokesperson Mara Davis acknowledged the concerns, stating, “There are always concerns about any new policy that could give way to discriminatory policing of delivery workers and immigrants. We remain in discussions with advocates and constructive members of the mayoral administration to advance solutions on e-bike safety, sustainable delivery, and street safety.”

Despite the rhetoric about safety, the data paints a different picture. City statistics show that e-bikes account for less than 4% of traffic-related injuries, and Gothamist pointed out that only six pedestrian fatalities involving e-bike riders were reported between 2021 and 2024. Meanwhile, cars and trucks continue to kill hundreds of New Yorkers every year. But rather than increasing enforcement on reckless drivers or investing more in safe bike infrastructure, the city is spending taxpayer money to police bicycles.

Electrek’s Take

In a city desperately trying to transition to more sustainable forms of transportation, I just don’t think that increasing pressure on the people doing the most riding is the answer. Delivery workers are part of the solution to car dependence, not the problem.

If NYC wants cleaner, safer streets, the focus should be on supporting these riders with safe infrastructure, affordable bikes, and better labor protections – not treating them like traffic scofflaws. Yes, enforcement is important. And yes, dangerous riders should be penalized to the full extent of the law, especially when they pose a real threat to pedestrians. But let’s not pretend like that’s what this about. If we cared about pedestrian safety, we’d be increasing enforcement to prevent the hundreds killed every year by cars in NYC – not the two pedestrians killed by e-bikes.

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BYD is the first to unlock L4 smart parking and it comes with a surprise guarantee

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BYD is the first to unlock L4 smart parking and it comes with a surprise guarantee

China’s EV leader, BYD, just reached another major breakthrough: its smart parking feature now offers L4 autonomy. To sweeten the deal, BYD says it will fully cover any losses associated with the new feature.

BYD becomes the first to achieve L4 smart parking

BYD said it was coming soon. Earlier this week, BYD posted on Weibo that it’s about to launch “the largest-scale smart driving OTA in history.”

On Wednesday, BYD confirmed that its smart parking system now offers L4 autonomy, becoming the first to achieve the feat. In a statement, the company said, “BYD is the first to achieve L4-level smart parking, and the official promise is to provide a safety guarantee​​​.”

The company is also pledging to cover any losses tied to the feature. Instead of going through their insurance company, drivers can contact BYD’s after-sales team to handle the incident.

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All BYD vehicles equipped with its God’s Eye smart driving system can get the upgrade. Earlier this year, the EV maker upgraded 21 of its best-selling vehicles with its God’s Eye system, at no additional cost.

The breakthrough comes after BYD announced earlier this week that there are now over 1 million vehicles on the road with its God’s Eye smart driving system. With L4 smart parking, the vehicle can operate without human interaction under certain conditions.

And that’s not all. BYD also said it’s pushing new OTA updates for its God’s Eye B and C systems. God’s Eye B will gain new functions, including multiple U-turns, detours, and a three-speed parking feature. Meanwhile, God’s Eye C is set to receive front parking and lane change reminders.

BYD’s smart driving system has three levels: A, B, and C. The A system is primarily reserved for the ultra-luxury Yangwang brand, while B is used for Denza and some premium BYD brand models. The God’s Eye C system is used for lower-cost BYD vehicles, such as the Seagull EV, its top seller in China.

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