homehome Home chatchat Notifications


Don't bail out fossil fuel companies, Democrat lawmakers insist

There's still a climate emergency to fix after this. So why support fossil fuel companies?

Fermin Koop
April 17, 2020 @ 8:20 pm

share Share

The US already agreed to use US$2 trillion to support those economic sectors and workers most affected by the coronavirus lockdown. But how should that money be used? Not on fossil fuels, at least according to these Democrats.

Credit Flickr

A group of more than 40 Democratic lawmakers argue that fossil fuel companies should not be able to receive any assistance from the aid package recently passed by Congress. The aid is intended to support “struggling families, workers, businesses, states, and municipalities.”

“Giving that money to the fossil fuel industry will do nothing to stop the spread of the deadly virus or provide relief to those in need. It will only artificially inflate the fossil fuel industry’s balance sheets,” lawmakers wrote in a letter.

Global markets have taken a large plunge amid the coronavirus, including the price of oil, reaching record lows. Nevertheless, democrats argued fossil fuel firms shouldn’t receive any assistance. The Trump administration had also tried to secure a US$3 million package just for the sector.

“We call on you to ignore the pleas of big oil lobbyists, put consideration of this corporate bailout aside, and instead focus on supporting the workers and small businesses who truly need assistance due to the coronavirus public health emergency,” they added.

The American Petroleum Institute (API), a lobby group that represents oil companies, replied to the claim by the Democrats, saying they are not interested in the money.

Nevertheless, they rejected the letter, claiming it’s “harmful” to workers and “opportunistic — asking the Trump administration to dismiss the claim.

Back in the 2008 economic crisis, former US President Barack Obama passed a stimulus package with the aim of moving forward with clean energy. Nevertheless, on this new package, renewable energy advocates have struggled to be included.

In a joint letter, the Solar Energy Industries Association (SEIA) and American Wind Energy Association (AWEA) asked members of Congress to extend their credits so as to “allow our member companies to hire thousands of additional workers and inject billions in the U.S. economy.”

Without further help, SEIA estimates the solar industry could see as much as 50% of residential solar jobs lost this year due to the pandemic. At the same time, AWEA estimates $43 billion dollars of investments and payments, mostly in the rural communities, is at risk.

Environmental and climate activists are asking all governments to focus the COVID-19 economic stimulus in zero-emissions sectors such as renewable energy and electric transportation, which can actually create millions of jobs and help the transition from polluting industries.

share Share

New Liquid Uranium Rocket Could Halve Trip to Mars

Liquid uranium rockets could make the Red Planet a six-month commute.

Scientists think they found evidence of a hidden planet beyond Neptune and they are calling it Planet Y

A planet more massive than Mercury could be lurking beyond the orbit of Pluto.

People Who Keep Score in Relationships Are More Likely to End Up Unhappy

A 13-year study shows that keeping score in love quietly chips away at happiness.

NASA invented wheels that never get punctured — and you can now buy them

Would you use this type of tire?

Does My Red Look Like Your Red? The Age-Old Question Just Got A Scientific Answer and It Changes How We Think About Color

Scientists found that our brains process colors in surprisingly similar ways.

Why Blue Eyes Aren’t Really Blue: The Surprising Reason Blue Eyes Are Actually an Optical Illusion

What if the piercing blue of someone’s eyes isn’t color at all, but a trick of light?

Meet the Bumpy Snailfish: An Adorable, Newly Discovered Deep Sea Species That Looks Like It Is Smiling

Bumpy, dark, and sleek—three newly described snailfish species reveal a world still unknown.

Scientists Just Found Arctic Algae That Can Move in Ice at –15°C

The algae at the bottom of the world are alive, mobile, and rewriting biology’s rulebook.

A 2,300-Year-Old Helmet from the Punic Wars Pulled From the Sea Tells the Story of the Battle That Made Rome an Empire

An underwater discovery sheds light on the bloody end of the First Punic War.

Scientists Hacked the Glue Gun Design to Print Bone Scaffolds Directly into Broken Legs (And It Works)

Researchers designed a printer to extrude special bone grafts directly into fractures during surgery.