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.
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 allowing oil companies to use the Strategic Petroleum Reserve to store oil until the market improves.
Seventy-nine organizations submitted a letter today urging the U.S. Army Corps of Engineers to extend comment periods and postpone public hearings while the country battles the coronavirus pandemic.
A letter published today from 12 Senate Republicans calls on Secretary of the Interior David Bernhardt to support the fossil fuel industry by using existing legal authority to “reduce or suspend” royalty payments.
As the coronavirus pandemic sweeps across Memphis, the Mid-South, and the country we at Friends of the Earth support and applaud the decision of Memphis Light, Gas & Water to temporarily suspend disconnects for non-payments.