The Latest
All of the most recent updates on fossil fuel industry bailouts.
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.
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
Main Street Lending Program Loan Recipients
Nearly 17% of new loans issued under the Federal Reserve's Main Street Lending Program in October were directed at fossl fuel companies. As of October 31st, outstanding loans to oil and gas companies totaled $582,487,162.25, 14.0% of total outstanding loans.
Data
Fossil fuel bonds purchased through the SMCCF
$408.5 million in energy bonds have been purchased through the Federal Reserve's Secondary Market Corporate Credit Facility (SMCCF) as of October 30th, 2020. Explore below the bonds issued by fossil fuel companies that have been purchased by the Federal Reserve.
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.
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.
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 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.
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.
News Roundups
Exxon’s plan for surging carbon emissions revealed in leaked documents, PPP failed many Black-owned businesses, and more
Daily news headlines about the stimulus and recovery from October 6, 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.
News Roundups
Millions in federal COVID-19 aid went to companies with pollution violations, Pelosi projects optimism on stimulus deal, and more
Daily news headlines about the stimulus and recovery from October 5, 2020.
News Roundups
Oil bankruptcies, lingering pandemic pain, and more
Daily news headlines about the stimulus and recovery from October 2, 2020.
News Roundups
Bailout fuels Big Oil bender, PPP forgiveness on deck, and more
Daily news headlines about the stimulus and recovery from October 1, 2020.
Report
Carbon Tracker: Billion Dollar Orphans
Plugging the 2.6 million documented onshore oil and gas wells in the U.S. will cost $280 billion. Without intervention, state governments are at high risk of taking on this orphaned well liability.
Report
Big Oil’s $100 Billion Bender: How The U.S. Government Provided a Safety Net for the Flagging Fossil Fuel Industry
A tally by Friends of the Earth, Public Citizen, and BailoutWatch has identified nearly $100 billion in bonds sold by oil and gas companies since the Federal Reserve launched its unprecedented bailouts last March.
Analysis
Big Oil’s $100 Billion Bender: How The U.S. Government Provided a Safety Net for the Flagging Fossil Fuel Industry
A tally by Friends of the Earth, Public Citizen, and BailoutWatch has identified nearly $100 billion in bonds sold by oil and gas companies since the Federal Reserve launched its unprecedented bailouts last March.
News Roundups
BP and Shell's climate pledge hypocrisy, big banks inadequate climate plans, and more
Daily news headlines about the stimulus and recovery from September 30, 2020.
Data
Tax Beneficiaries of the CARES Act
Fossil Fuel companies have claimed over $3.8 billion in tax refunds through June 2020.
News Roundups
Coal cos. dropped from S&P, BP and Shell shift to renewables, and more
Daily news headlines about the stimulus and recovery from September 29, 2020.
News Roundups
PPP line shareholder pockets, fossils fall behind green investments, and more
Daily news headlines about the stimulus and recovery from September 28, 2020.
News Roundups
Oil Climbs, As Taxpayers Call For Lease Reform, and More
Daily news headlines about the stimulus and recovery from Septmber 25, 2020
News Roundups
Execs Say Oil Production Has Peaked, Deal To Ban Aid To Refiners, And More
Daily news headlines about the stimulus and recovery from September 24, 2020
News Roundups
GOP Wants Another Airline Bailout, Oil Patch Woes, And More
Daily news headlines about the stimulus and recovery from September 23, 2020.
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.