New analysis highlights major problems with Trump’s promise to “fill up” Strategic Petroleum Reserve
Washington DC—Friends of the Earth released an analysis today raising legal, environmental, and logistical questions about Trump’s promise to “fill up” the Strategic Petroleum Reserve. The analysis asks where the funding will come from and what the administration’s options may be for bypassing Congress.
Lukas Ross, senior policy analyst with Friends of the Earth, offered the following statement with the analysis:
The Strategic Petroleum Reserve announcement could be phase one of Trump’s Big Oil bailout. Tax credits, royalty free leasing on public lands and low-interest loans could all be coming next. The fossil fuel industry is already a massive beneficiary of government handouts, but that won’t stop it from engaging in some disaster capitalism if it can benefit.
The coronavirus should be an opportunity to unite the country, prevent further spread of the virus and protect those most vulnerable. Instead, Big Oil is treating it as an opportunity to ensure its future profitability.
Contact: Erin Jensen, (202) 222-0722, [email protected]