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Federal Reserve bows to Big Oil
This morning the Federal Reserve announced changes to the so-called Main Street Lending Facility, a $600 billion program established with money from the stimulus.
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GOP Senators push Fed for Big Oil bailout
Eleven Senate Republicans released a letter today, calling for greater availability of stimulus funds for oil and gas companies. The Senators are specifically demanding that Treasury Secretary Mnuchin…
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Polluters invest in post-COVID lobbying
A new analysis from Friends of the Earth shows a boost in lobbying registrations from the oil, gas and plastic industries as a result of the coronavirus.
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The Big Oil Money Pit
How $750 billion in new stimulus spending could prop up failing polluters
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New Report: Big Oil’s Money Pit to Reap Stimulus Billions
The Federal Reserve just announced $750 billion in corporate debt-buying as part of funding made available through the stimulus. Big Oil companies stand to reap yet another billion dollar bailout.
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Exxon Democrats support oil purchases
Rep. Henry Cuellar (D-Tx) and at least four other Democrats are calling for purchases into the Strategic Petroleum Reserve (SPR) as part of the next coronavirus stimulus, according to a report this ev…
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Trump pushes Big Oil lifeline
Following a meeting with Big Oil CEOs, Trump announced in a briefing this afternoon new efforts to support the oil and gas industry. He promised to keep the industry in “good shape” and called for…
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Big Oil to talk bailout with Trump
CEOs from seven major oil companies are meeting today with Trump in the White House. The discussion is expected to include support for the industry amidst the coronavirus and the Saudi-Russia oil pric…
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Continued Big Oil bailouts must stop
A new analysis from Friends of the Earth shows that reducing royalty and rental payments would render huge benefits to polluters at the expense of taxpayers and the climate.