$15 Billion of Covid Relief Funding Went to Propping Up Fossil Fuels

$15 Billion of Covid Relief Funding Went to Propping Up Fossil Fuels

by Ashira Morris, ODP Contributing Writer Since the beginning of the pandemic, most Americans have received a single check for $1,200. However, fossil fuel companies are not most Americans. The US government spent big — $15 billion dollars big — to help the companies responsible for the climate crisis. According to a new analysis by […]

Continue Reading 380 words
Oil and Gas Companies Use Tax Cuts in Stimulus, Renewables Promised Tax Credit Extension

Oil and Gas Companies Use Tax Cuts in Stimulus, Renewables Promised Tax Credit Extension

In what one tax watchdog called a “stealth” bailout, dozens of oil and gas companies are taking advantage of provisions in the CARES law to write off losses right away and get an immediate tax refund against prior years’ earnings going back to 2018, according to Bloomberg News

Why This Matters:  These refunds also carry forward – so oil and gas companies can expect to pay zero taxes for years to come, according to Bloomberg.

Continue Reading 520 words
Plastic Companies Want $1B in Bailout Funds For Recycling

Plastic Companies Want $1B in Bailout Funds For Recycling

Pointing to the rise in plastic being used during the COVID pandemic, an alliance of the nation’s largest chemical companies called the “Recover Coalition” is requesting that Congress give them $1b to deal with the current lack of a functioning recycling system in the U.S.  The industry group, in a letter to legislators, explained that […]

Continue Reading 522 words

Want the planet in your inbox?

Subscribe to the email that top lawmakers, renowned scientists, and thousands of concerned citizens turn to each morning for the latest environmental news and analysis.