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Trump Looks to Bail Out Fossil Fuel Corporations as Global Crisis Deepens

by Ryan Schleeter

March 10, 2020

Today, the Washington Post reported that the Trump administration is considering a federal bailout for fossil fuel companies hit by tanking oil prices. In response, Greenpeace USA Senior Climate Campaigner Jack Shapiro said:

“In a global health and economic crisis, Trump will save himself and his cronies while the rest of the world suffers. The last people who deserve taxpayers’ money are the billionaires that created and profited from the climate crisis. The right thing to do right now is support those feeling the immediate impacts and invest in an economy beyond fossil fuels that provides working families with long-term prosperity and economic security. Handouts to oil CEOs and wealthy shareholders won’t deliver that, but a Green New Deal can.

“Economists have warned that fossil fuels are a risky investment for years now. Instead of shifting investment to green jobs and supporting workers in a just transition away from fossil fuels, Trump has propped up his oil industry buddies with endless subsidies and policy loopholes. Congress must stand up to the raging dumpster fire that is the Trump administration and stop this ill-fated bailout.”

ENDS

Contact: Ryan Schleeter, Senior Communications Specialist, Greenpeace USA: +1 (415) 342-2386, [email protected]

Ryan Schleeter

By Ryan Schleeter

Ryan Schleeter is a senior communications specialist with Greenpeace USA covering climate and energy. His writing has appeared in National Geographic, Grist, GreenBiz, EcoWatch, and more. Find him on Twitter @ryschlee.

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