Vizualizing the data behind the bailout.
Fossil Fuel Bonds Purchased through the SMCCF
Over two months after new purchases through the Federal Reserve's Corporate Credit Facilities concluded, energy bonds comprised 9.2% of the SMCCF bond portfolio. As of March 11th, the Secondary Market Corporate Credit Facility (SMCCF) holds $469.9 million worth of oil and gas bonds. Explore below the bonds issued by fossil fuel companies that have been purchased by the Federal Reserve.
Main Street Lending Program Loan Recipients
Federal Reserve purchases of loans to oil and gas companies exploded in December, increasing by $1.12 billion and continuing the MSLP's disproportionately favorable support of fossil fuels. Companies rushed to take advantage of the lending program before its sunset at the end of 2020. Nearly 13% of the loans purchased by the Main Street Lending Program were issued to fossl fuels, compared to just 1% for clean energy. As of December 31st, outstanding loans to oil and gas companies totaled $2.22 billion.
Bailed Out & Propped Up: Double Dippers
At least 66 fossil fuel companies double- or triple-dipped into government stimulus programs during the Coronavirus pandemic
Bailed Out & Propped Up: Data
Since the Federal Reserve announced the CARES Act stimulus package in late March, fossil fuel companies have received over $110 billion in direct and indirect benefits.
Bureau of Land Management Bailout of Public Lands Oil and Gas Companies
Over 200 companies that drill on United States public lands received financial benefits from the federal government's Bureau of Land Management. The BLM provided the bailout to oil and gas corporations in the form of royalty rate reductions and lease suspensions.
Fossil Fuel Companies that Received PPP Loans Larger than $150,000
This chart displays Paycheck Protection Program loans larger than $150,000, distributed to companies involved in fossil fuel production, distribution and manufacturing. Through Sept. 8th, 6776 fossil fuel companies received loans totalling between $3,547,750,000 and $8,369,750,000.
Fossil Fuel Companies that Received PPP Loans Smaller than $150,000
Over $735,000,000 in Paycheck Protection Plan loans smaller than $150,000 were distributed to 19,156 companies in the fossil fuel sector as of Sept. 8th, 2020.
Tax Beneficiaries of the CARES Act
Fossil Fuel companies have claimed over $3.8 billion in tax refunds through June 2020.
Oil and Gas Infrastructure Projects Expedited through Environmental Exemptions
Explore this list of Oil and Gas projects expedited for approval following Executive Order 13927 through exemptions to environmental laws including the Endangered Species Act, Clean Water Act, and NEPA.