Fossil Fuel Companies Pocketed $8.2 Billion in COVID Relief, Fired 60,000 Workers

Fossil Fuel Companies Pocketed $8.2 Billion in COVID Relief, Fired 60,000 Workers

A recent analysis (funded by Rockefeller Philanthropy) exposed that fossil fuel companies cut almost 60,000 jobs despite receiving billions of dollars in federal COVID-19 relief.

Why This Matters: These findings reveal two important points. First, that lucrative tax loopholes for the fossil fuel sector continue to be heavily exploited. Second, the narrative that oil companies are a “necessary engine of employment and succeed on an equal playing field in the free market” is hypocritical at best. As fossil fuel operations close, many states and former coal and oil communities are setting their sights on clean energy projects to provide new jobs and stability.

Continue Reading 597 words
Fossil Fuel Subsidies Cheat Sheet — Where Are They?

Fossil Fuel Subsidies Cheat Sheet — Where Are They?

In 2019, the Environmental and Energy Study Institute (EESI) published a “Fact Sheet” on fossil fuel subsidies and their societal cost. Agencies could start their search there.  Many of these subsidies have been around for a century, and often the circumstances relevant at the time subsidies were implemented no longer exist.

Continue Reading 228 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.