GAO: Opportunities to Improve Federal Response and Recovery Efforts on COVID-19
The congressional watchdog recommends that the SBA do more to ensure the Paycheck Protection Program's integrity and effectiveness, and address potential fraud.
Reports
Reports from other organizations on fossil fuel industry bailouts and related topics. Opinions expressed in these publications are those of the authors and BailoutWatch has not independently confirmed their findings.
InfluenceMap: Necessary Intervention or Excessive Risk?
Fossil fuels are the weakest part of the economy. The Fed’s early bailouts support them anyway.
Carbon Tracker: It's Closing Time
Stranded assets have always been a ticking time bomb for the fossil fuel industry. Now, due to the coronavirus pandemic, the huge bill to abandon oilfields is coming decades early.
Congressional Oversight Commission: Second Report
Congress’ oversight body reviews responses to its questions from Treasury and the Fed.
The Transnational Institute: Change Finance, Not the Climate
Fossil fuel lending, including from central banks, can be redirected towards clean energy, and public finance and ownership can bankroll the infrastructure for delivering a clean energy transition and growing jobs.
Ceres: Addressing Climate as a Systemic Risk
Climate change poses a systemic threat to the stability and competitiveness of U.S. financial markets, and financial regulators have the responsibility and the authority to better protect against that threat.
IEEFA Update: Federal Lending To The Oil And Gas Sector Would Be A Complete Waste Of Money
Even if the entire relief program were to go to fossil fuels, it wouldn't fix the sector’s fundamental economic problems.
Congressional Research Service: Offshore Royalty Relief During the COVID-19 Pandemic
Some Members of Congress have asked DOI to expand royalty relief for oil and gas producers during the pandemic. What programs already exist, and what are the arguments for and against expansion?
Public Citizen: Fossil Filled
Since the start of the Trump administration, the calendars of top officials at the U.S. Department of the Interior have been filled with meetings involving energy and mining firms and corporate trade groups. Now, these well-connected industries are seeking bailouts and special favors.
Congressional Oversight Commission: Questions about the CARES Act’s $500 billion emergency economic stabilization funds
In its first report, the Congressional Oversight Commission publicizes a list of questions it has posed to Treasury and the Federal Reserve about their handling of the $500 billion set aside to support companies and state and local governments.