Over 5,600 fossil fuel companies have taken at least $3bn in US Covid-19 aid

by Emily Holden, The Guardian


Highlights

  • The Small Business Administration (SBA) released data showing that oil and gas drillers, coal mine operators, refiners, and pipeline companies have taken advantage of federal coronavirus aid
  • Companies include: Navajo Transitional Energy Company, CCU Coal and Construction, Sunflower Electric Power Corporation, and thousands more
  • Four companies that received aid were recently listed in the top 10 drilling rig operators in Texas 
  • The estimated $3 billion in aid taken by these companies is thought to be a lower estimation than what was actually given. It is expected that the actual dollar amount is closer to $7 billion
  • Though these businesses were not exempt from receiving aid funds, all of the aid should’ve gone to smaller business, not giant polluting corporations
  • Jesse Coleman, a researcher for Documented, believes that giving aid to the oil industry is a waste of taxpayer money:

“We should not be wasting taxpayer dollars on an industry that’s in a tailspin of its own making, especially when it seems intent on bringing the whole planet down with it.”

  • California biofuel company Pacific Ethanol also received aid funds even though they have a long history of environmental violations

Fossil fuel divestment and the transition to 100% clean energy is critical to achieving The Climate Center’s goals under the Climate-Safe California Platform.


Read More: https://www.theguardian.com/environment/2020/jul/07/fossil-fuel-industry-coronavirus-aid-us-analysis

Nina Turner
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