Reports, news, and analysis on how the fossil fuel industry is using federal bailout money.
A pipeline that would carry methane gas from Texas to the Pacific coast of Mexico is quickly clearing U.S. regulatory hurdles. But the entire prospect of exporting U.S. gas through Mexico looks increasingly shaky as the Biden administration takes a much-needed look at a host of problems caused by booming gas exports.
Fresh analysis from BailoutWatch and Friends of the Earth finds oil CEOs are billions of dollars richer than they were at the start of the Biden Administration, and have sold shares in their companies worth tens of millions of dollars in the weeks since the war became inevitable.
Oil and gas companies that got billions in direct government bailouts are minting money faster than the industry overall, a new BailoutWatch analysis has found, as fossil fuel companies post record-high profits driven by punishing gas prices and the war in Ukraine.