Deep dives and analysis on fossil fuel industry bailouts.
COVID Oversight Panel Asks Fed Why Fossil Fuels Got To Design Their Own Bailouts
The Fed’s Main Street Lending Program was designed to help healthy, mid-sized companies survive the pandemic. Then it was revised to include more oil and gas companies. A Congressional watchdog panel asked a Federal Reserve official and others who’s really calling the shots.
Human-rights and environmental groups: Fed should stop bailing out fossil fuels and start solving the climate crisis
By treating fossil fuels like any other part of the economy, despite their weak financial performance and environmental devastation, the Fed is abandoning its obligation to stabilize the financial system and safeguard government resources, according to a broad group of nonprofit and private-sector leaders.
Big US banks say fossil fuel investments are dragging them down
Lenders facing historic challenges say oil and gas investments are among their biggest problems.
Oil and gas companies were far more likely to need ‘small-business’ bailouts
Fossil fuel companies participated in the government’s bailout of small businesses at higher rates than those producing green energy and long-lasting consumer products, a new analysis found. It’s another indicator of the fossil fuel industry’s financial weakness going into the pandemic.
Fossil fuel firms tended to get more, do less in 'small-business' bailout
Fossil fuel companies are getting bigger loans than others and reported saving fewer jobs, a BailoutWatch analysis of the Small Business Administration's Paycheck Protection Program found.
Polluters, firms that ripped off the government got 'small-business' bailouts
Dozens of bailed-out fossil fuel companies were charged with violating pollution and safety rules. At least seven ripped off the government on drilling fees.