News & Analysis
News and analysis from BailoutWatch on fossil fuel industry bailouts and related topics.
Pay gap widened between oil CEOs and their workers last year, even after bailouts and layoffs
The fossil fuel industry defends its jobs record. But we found a dozen top oil and gas companies paying top executives more than 100 times the median worker’s salary while laying people off — even after collecting billions in public aid.
What fossil fuels really did with their bailouts
Our three-part analysis of 2020 annual reports and proxies found that oil, gas and coal companies received billions in bailout benefits, then paid off their shareholders and executives while laying off workers.
Fossil fuels used $100M tax bailouts to pay shareholders while slashing jobs
With oil and gas claiming they get “no special tax treatment,” new data show polluters with the biggest tax bailouts mostly used the money to increase payments to shareholders while eliminating jobs
Fossil fuel firms slashed nearly 60,000 jobs in 2020 while pocketing $8.2 billion tax bailout
As Washington weighs ending fossil fuel tax subsidies, oil and gas companies are quietly disclosing how many millions (or billions) they received from a pandemic tax break last year — and how many jobs they cut
Sundance Energy seeks bankruptcy protection after laying off workers and approving executive bonuses
The bailout double-dipper reported a brief spike in employment when obtaining a bailout, raising questions about the truthfulness of its application.
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.
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.
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.
Oil & Gas Dominates in "Main Street" Lending Program
New data shows that 46 fossil fuel companies have received Fed-subsidized loans since July, as the MSLP is set to expire on December 31st.