Energy Secretary Takes a Swipe at Big Banks That Won’t Invest In Arctic Drilling

Energy Secretary Takes a Swipe at Big Banks That Won’t Invest In Arctic Drilling

The Secretary of Energy stunningly accused the major financial institutions that refuse to now invest in Arctic oil and gas exploration of discrimination against the oil and gas industry and likened the decision to the banks’ refusal in the past to make loans to minorities.

Why This Matters:  Arctic drilling has been fought due to its environmental toll since the 1960s,  In 1980, Congress decreed that no exploratory drilling or production could occur without further congressional action — and it stayed that way until President Trump demanded authority to lease the land for drilling, despite the ample domestic supply of oil and gas.

 

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