The Latest
All of the most recent updates on fossil fuel industry bailouts.
News Roundups
Fed's rescue helped wealthy most, Trump's ANWR flop a win for climate, and more
Weekly news headlines about the stimulus and recovery from Jan 15, 2021.
News Roundups
Time for America to finally take on Big Oil, Oil executives have mixed expectations for 2021, and More
Weekly news headlines about the stimulus and recovery from Jan 8, 2021.
News Roundups
Republican bid to end virus lending slows relief deal, Fed joins climate network, and more
Weekly news headlines about the stimulus and recovery from Dec 18, 2020.
Analysis
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.
News Roundups
Mnuchin grilled over clawback, BlackRock vows shareholder votes on climate, and more
Weekly news headlines about the stimulus and recovery from Dec 11, 2020.
Analysis
Oil and gas industry nearly top bailout rolls in Texas
A trade group president says the industry has been devastated by the pandemic
Report
Urgewald: Five Years Lost
On the fifth anniversary of the Paris Agreement, a new report details twelve new fossil fuel projects that would use a significant portion of the remaining carbon budget.
News Roundups
The oil industry is flailing, PPP loan recipients' data reveals troubling patterns, and more
Weekly news headlines about the stimulus and recovery from Dec 4, 2020.
Data
Bailed Out & Propped Up: Double Dippers
At least 66 fossil fuel companies double- or triple-dipped into government stimulus programs during the Coronavirus pandemic
News Roundups
Climate change has hit the U.S. harder than any other G20 country, hundreds of companies that got stimulus aid have failed, and more
Weekly news headlines about the stimulus and recovery from November 20th, 2020.
Data
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.
Analysis
Fed’s Fossil Fuel Bailouts Grow to Half Billion as Focus Shifts to Next Steps
The current bailout programs are a political hot potato and policymakers are discussing the next rounds of stimulus. In the meantime, the Fed program designed to prop up midsize fossil fuel companies continues to grow.
News Roundups
Fed acknowledges climate risk, Biden transition rumors, and more
Weekly news headlines about the stimulus and recovery from November 13, 2020.
Data
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.
News Roundups
Climate change is a systemic financial risk, Fed props up the economy, and more
Weekly news headlines about the stimulus and recovery from November 6, 2020.
Report
Haynes & Boone: Oil Patch Bankruptcy Monitor (October Update)
While only three additional bankruptcies were filed in October, there have now been more than 500 bankruptcies filed in the North American oil and gas industry since 2015.
News Roundups
Exxon cuts 15% of workforce, New York to regulate banks on climate risk, and more
Daily news headlines about the stimulus and recovery from October 30, 2020.
News Roundups
Fed is running out of ways to help the economy, other central banks flexing their green muscle, and more
Daily news headlines about the stimulus and recovery from October 29, 2020.
Report
Congressional Oversight Commission: Sixth Report
In its sixth report, the Commission provides updates on government lending programs, and asks for more disclosure transparency from the Fed.
News Roundups
Senate adjourns, EQT buys Chevron Appalachian assets, and more
Daily news headlines about the stimulus and recovery from October 28, 2020.
Report
Evergreen Collaborative: Preventing a Climate Crash
The next president can use five tools to rein in climate risk to our financial system and prevent the next economic crash.
News Roundups
Fed’s purchase of energy company debt continues to raise questions, Pelosi, Mnuchin fail to reach deal, and more
Daily news headlines about the stimulus and recovery from October 27, 2020.
News Roundups
Unending stimulus stalemate, clean energy cheaper than COVID-19 recovery, and more
Daily news headlines about the stimulus and recovery from October 26, 2020.
Guest Blog
The U.S. Is Missing a Chance to Tackle Climate Crisis and Pandemic Relief Together
It’s time for the Fed to join the European Central Bank in acknowledging the inherent financial risks that climate change brings, and to ensure that the securities the Fed buys to boost the economy are done with climate risk in mind.
News Roundups
States forge ahead, Exxon layoffs, and more
Daily news headlines about the stimulus and recovery from October 23, 2020.
News Roundups
Oil lobbyists cash in, oil workers pay the price, and more
Daily news headlines about the stimulus and recovery from October 22, 2020.
Analysis
Fed-backed loans to fossil fuels jump
Oil and gas fought for looser lending terms so more of them could tap the Fed’s Main Street Lending Program. New data show their lobbying paid off.
News Roundups
Unspent bailout money, sustainable ETFs, and more
Daily news headlines about the stimulus and recovery from October 21, 2020.
News Roundups
Investors retreat from fossil fuels, untapped Fed funds, and more
Daily news headlines about the stimulus and recovery from October 20, 2020.
News Roundups
BP slashes jobs, clock ticking on stimulus, and more
Daily news headlines about the stimulus and recovery from October 19, 2020.
Guest Blog
It’s time for Congress to strengthen protections for whistleblowers who expose corporate fraud
The rapid pace and volume of federal spending created new opportunities for misconduct, and these opportunities were seized by powerful corporate actors. The risk of widespread fraud is particularly high in the troubled fossil fuel sector, making whistleblowers crucial for detecting and preventing it.
Report
Ceres: Financing a Net-Zero Economy
In an October report, Ceres lays out how banks can discuss and mitigate their climate risk exposure.
News Roundups
Ohio Valley Mayors Aim For A Green Recovery, Occidental Says Oil Production Passed Its Peak, and More
Daily news headlines about the stimulus and recovery from October 15, 2020.
Report
Fueling the Fire: Why Any Fossil Fuel Industry Bailout Will Be Disastrous for Communities of Color
A new report from Partnership for Working Families, Action Center on Race & the Economy, and the Public Accountability Initiative finds that U.S. federal economic recovery programs provided inadequate support to low-income, immigrant, & BIPOC communities most harmed by the fossil fuel industry, but gave the industry $110 billion in stimulus.
Report
Congressional Oversight Commission: Fifth Report
In its fifth report, the Commission discusses the Municipal Liquity Facility and recommends that the SMCCF stop making purchases.
News Roundups
Another ‘skinny’ coronavirus relief bill on tap, OPEC cuts 2021 oil demand forecast again, and more
Daily news headlines about the stimulus and recovery from October 14, 2020.
News Roundups
The Future of Energy, Tax Deductions Paying Out, and More
Daily news headlines about the stimulus and recovery from October 13, 2020.
News Roundups
MTA calls Trump’s decision to end Covid-19 stimulus talks ‘devastating’, American Airlines to cut flights, and more
Daily news headlines about the stimulus and recovery from October 9, 2020.
News Roundups
Pelosi and Mnuchin discuss airline aid, why oil got left behind as stocks soar, and more
Daily news headlines about the stimulus and recovery from October 8, 2020.
Data
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.
News Roundups
U.S. economy faces tragic risks, BLM royalty relief may have been a waste, and more
Daily news headlines about the stimulus and recovery from October 7, 2020.
Report
GAO: Actions Needed to Improve BLM’s Royalty Relief Policy
The Congressional watchdog finds that Bureau of Land Management oil and gas royalty relief may have gone to companies that would not have shut down their wells without the aid.
Report
S&P Global: Coal in Retreat
The coal industry was already struggling before the pandemic, but the situation has darkened dramatically in recent months.
Report
National Whistleblower Center: Exposing a Ticking Time Bomb
In their July report, the National Whistleblower Center explores the potential for climate risk fraud in the fossil fuel industry, and the work of whistleblowers, prosecutors and regulators as an important pathway to ensuring proper disclosures of climate risks.
Report
Brookings: Addressing the Other COVID Crisis, Corruption
In a July report, the Brookings Institution explores how COVID-19 oversight authorities might deal with new evidence of corruption from the Trump administration.
Report
Ceres: Blueprint for Responsible Policy Engagement on Climate Change
Ceres offers a blueprint on how companies can establish systems that address climate change as a systemic risk and integrate this understanding into their direct and indirect lobbying on climate policies.
Report
E2+E4: Build Back Better, Faster
A joint report details how a federal stimulus focusing on clean energy can create millions of jobs and restart America’s economy.
Report
IMF: Global Fossil Fuel Subsidies
A 2019 IMF report finds that globally, fossil fuels are subsidized at six percent of the world's GDP, and that the U.S. is the second largest subsidizer.