Palm Beach, Florida - Donald Trump reportedly urged oil industry executives to raise $1 billion for his campaign, promising to reverse environmental regulations imposed by Joe Biden's administration once he is re-elected to the White House.

The Washington Post cited anonymous sources with knowledge of the meeting, which was said to have taken place last month at Mar-a-Lago.

Contacted by AFP, Trump's campaign neither confirmed nor denied the content of the article.

"Joe Biden is controlled by environmental extremists who are trying to implement the most radical energy agenda in history and force Americans to purchase electric vehicles they can't afford," spokesperson Karoline Leavitt said.

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Biden's campaign team, in turn, accused Trump of "selling out working families to Big Oil for campaign checks."

The Post said Trump pledged to immediately end the Biden administration's freeze on permits for new liquified natural gas exports.

He also reportedly told the energy executives – about two dozen from companies including Venture Global, Cheniere Energy, Chevron, and Exxon – he would auction off more oil leases in the Gulf of Mexico and reverse restrictions on drilling in the Alaskan Arctic.

Biden's 2022 climate action plan, the Inflation Reduction Act, funnels some $370 billion into subsidies for America's energy transition.

Trump has rejected the science behind climate change and as president pulled the US out of the Paris climate accord to limit global warming.

"Donald Trump is acting like a comic book villain, offering to sell off the fate of the planet for a $1 billion check," climate group Evergreen Action said in a statement.

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"(He) is prepared to literally hand the pen to Exxon and Chevron to write the policies that will set back America's climate progress and poison our communities."

Biden's campaign called Trump "a puppet for his biggest donors."

"Trump isn't fighting for what's best for American families, cheaper energy, or our climate – he only cares about winning this election," the campaign said.

Climate experts expect global temperatures to blow past 1.5-degree Celsius target set by the Paris accords, with catastrophic consequences for life on the planet.