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

A Dutch 17-Year-Old Forgot His Native Language After Knee Surgery and Spoke Only English Even Though He Had Never Used It Outside School

He experienced foreign language syndrome for about 24 hours, and remembered every single detail of the incident even after recovery.

Your Brain Hits a Metabolic Cliff at 43. Here’s What That Means

This is when brain aging quietly kicks in.

Scientists Just Found a Hidden Battery Life Killer and the Fix Is Shockingly Simple

A simple tweak could dramatically improve the lifespan of Li-ion batteries.

Westerners cheat AI agents while Japanese treat them with respect

Japan’s robots are redefining work, care, and education — with lessons for the world.

Scientists Turn to Smelly Frogs to Fight Superbugs: How Their Slime Might Be the Key to Our Next Antibiotics

Researchers engineer synthetic antibiotics from frog slime that kill deadly bacteria without harming humans.

This Popular Zero-Calorie Sugar Substitute May Be Making You Hungrier, Not Slimmer

Zero-calorie sweeteners might confuse the brain, especially in people with obesity

Any Kind of Exercise, At Any Age, Boosts Your Brain

Even light physical activity can sharpen memory and boost mood across all ages.

A Brain Implant Just Turned a Woman’s Thoughts Into Speech in Near Real Time

This tech restores speech in real time for people who can’t talk, using only brain signals.

Using screens in bed increases insomnia risk by 59% — but social media isn’t the worst offender

Forget blue light, the real reason screens disrupt sleep may be simpler than experts thought.

Beetles Conquered Earth by Evolving a Tiny Chemical Factory

There are around 66,000 species of rove beetles and one researcher proposes it's because of one special gland.