Bailed Out & Propped Up Fossil Fuel Bailouts Climb Past $15B

The fossil fuel industry received between $10.4 billion and $15.2 billion in direct economic relief from federal efforts under President Donald Trump. Download our latest report, put together in partnership with Public Citizen & Friends of the Earth.

Latest On Bailout

Reports, news, and analysis on how the fossil fuel industry is using federal bailout money.

offshore drilling oil rig

Bailed-out, bankrupt oil firms pay millions in executive bonuses while laying off workers

Sen. Ted Cruz and other champions of fossil fuel bailouts said sending government funds to fossil fuels would protect workers. But the companies are giving executives bonuses, slashing jobs, and forcing investor losses in court.

Texas Senator Ted Cruz

Federal Watchdog Probes Ted Cruz’s Oil Bailout Lobbying

After a Wall Street Journal investigation citing BailoutWatch, the Inspector General overseeing CARES Act bailouts has subpoenaed Cruz’s office about his efforts to expand bailouts for oil and gas.

Standing Rock protestors Dakota Access Pipeline water is life

Dakota Access Pipeline builder Energy Transfer LP making $7B acquisition after tax bailout, mass layoffs

The deal to buy out Enable Midstream Partners after laying off 1,391 workers shows how Texas billionaire Kelcy Warren will use millions in government givebacks.

Big Oil’s $100 Billion Bender: How The U.S. Government Provided A Safety Net For The Flagging Fossil Fuel Industry

A tally by Friends of the Earth, Public Citizen, and BailoutWatch has identified nearly $100 billion in bonds sold by oil and gas companies since the Federal Reserve launched its unprecedented bailouts last March.

Big Oil Bender graphic

News

Recent news stories from around the web.

Mar 05, 2021

Katie Porter targets Big Oil, private equity chiefs get payouts, and more

Weekly news headlines about the stimulus and recovery.

Feb 26, 2021

Is financial regulation the way to deal with climate change? Exxon loses a lot of oil, and more

Weekly news headlines about the stimulus and recovery.

Feb 12, 2021

COVID's drag on oil, pollution's death toll and more

Weekly news headlines about the stimulus and recovery.

Feb 05, 2021

Oil companies endure brutal 2020, pandemic watchdog probles Mnuchin & Cruz, and more

Weekly news headlines about the stimulus and recovery.

Brookings: How Biden And Congress Can Use COVID-Related Corporate Stimulus To Boost Climate Resilience

The Brookings Institute arges that the U.S. should use pandemic recovery funds to incentivize corporations to better confront their own climate risk exposure.