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.
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.
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.
The Fed’s bond-buying could include 90 fossil fuel issuers and many more utilities, based on an analysis of credit ratings and eligibility requirements.
The oil, gas, and plastics industries are exploiting the current economic and public health crisis by aggressively lobbying for massive bailouts and special privileges in an attempt to revive an oil and gas industry already in decline.
Fossil fuel companies are eligible to receive billions of the new stimulus spending authorized by Congress in April.
Influence Map outlines evidence showing how corporations are lobbying for climate deregulation and financial interventions by governments that are either specifically advantageous for fossil fuel production and/or contrary to science-based advice from the IPCC on climate.
During the last financial crisis, the Federal Reserve extended credit to nonbank financial firms for the first time since the 1930s. What is similar and different about the Fed's role during current economic fallout from COVID-19?
Four big U.S. banks - JPMorgan Chase, Wells Fargo, Citi and Bank of America - account for nearly a third of fossil fuel financing from global banks since the Paris Agreement was adopted four years ago.
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.
Fossil fuels are subsidized by the U.S. federal and state governments, and removing these highly inefficient subsidies should be the first priority of fiscally responsible climate, energy, and tax reform policies.
