Browsing the "bailout" Tag

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Big oil and coal are in big trouble despite billions in bailouts

Just over a month ago, President Trump claimed victory for saving Big Oil, saying that he ‘created it’ and then he ‘saved it.’ But like many, many claims by the President, this fantasy is false. Despite upwards of $7 billion in taxpayer-backed Paycheck Protection Program loans, billions more in tax breaks, and waiving environmental rules by federal agencies that gave corporations […]

September 4th

Big banks are buying up fracking industry assets with coronavirus bailout funds

Climate advocates are slamming banking interests after a report revealed that JPMorgan Chase, Wells Fargo, Bank of America, and Citigroup are planning to take over distressed oil and gas companies assets in the wake of an industry collapse, likely by using access to federal bailout money included in the coronavirus relief package passed by Congress. […]

August 17th

Coronavirus: Tracking how the world’s ‘green recovery’ plans aim to cut emissions

The coronavirus pandemic has had devastating consequences for lives and livelihoods around the world, while also dramatically cutting CO2 emissions. In many countries, governments are now looking towards recovery as the pandemic’s first wave slowly recedes, with plans for economic stimulus worth trillions of dollars. Yet as economies pick up pace, emissions are beginning to rebound. And huge stimulus plans will have consequences for […]

August 15th

FirstEnergy wants taxpayers to bail out their dirty, expensive coal plants

This week FirstEnergy Solutions dropped a bombshell of an announcement – they filed notice with the grid operator to retire four fossil fuel plants, including the two largest coal plants ever announced for retirement: Sammis and Bruce Mansfield. The announcement makes it clear these coal plants are too old, dirty, and expensive to operate in a competitive market, and […]

September 1st

What to do About the Auto Industry?

Letting the auto industry go to hell in a handbasket is probably not an option. The impact on the economy would be one thing. But the direct and indirect human impact would be terrible.
That leaves us wondering how to square this particular circle. We are faced with a powerful combination of crises, both economic and environmental. Is there a way to address both at once? Well, yes.

December 20th