To preface this, there is no solid evidence that confirms or debunks this, as it is mostly speculation by fans and the media. However, as of now, this information is false, RuPaul does not own a 'fracking empire.' An article covering the controversy by The Guardian states that the Wyoming land doesn't even belong to RuPaul, but rather, his husband. RuPaul just became associated with it via his husband owning the land. However, if it was true, it would not be in the control of RuPaul or his husband, as many residents of Wyoming have confirmed that "the rights to minerals under a given piece of land, including fossil fuels, are owned separately from the surface rights."
Information connecting RuPaul to his supposed 'fracking empire' are purely misleading, neglecting to go in-depth over land/mineral ownership and other context.
https://www.theguardian.com/environment/2020/aug/28/fracking-wyoming-ranchers-rupaul