Mnuchin & Trump could announce a plan to bailout Big Oil as early as tomorrow.
In our latest press release, we list 8 reasons why that’s a no good, terrible, messed up idea.
🧵
stopthemoneypipeline.com/mnuchin-big-oi…
#StopTheMoneyPipeline
#NoBigOilBailout
In our latest press release, we list 8 reasons why that’s a no good, terrible, messed up idea.
🧵
stopthemoneypipeline.com/mnuchin-big-oi…
#StopTheMoneyPipeline
#NoBigOilBailout
#1: The Trump Administration still hasn’t delivered for American families:
Nearly 25 million Americans are out of work. The administration needs to spend more time helping people and less time prioritizing the needs of oil company CEOs.
Nearly 25 million Americans are out of work. The administration needs to spend more time helping people and less time prioritizing the needs of oil company CEOs.
#2. Oil companies are in a crisis of their own making:
Oil and gas companies entered the coronavirus crisis over leveraged and saddled with massive debts. The industry’s profitability and share of the economy had already tanked. They got themselves into this mess.
Oil and gas companies entered the coronavirus crisis over leveraged and saddled with massive debts. The industry’s profitability and share of the economy had already tanked. They got themselves into this mess.
#3. Giving bailout money to oil companies won’t help stimulate the economy or protect jobs:
These companies were a mess coming into this crisis and with the oversupply of oil they're in no position to create jobs or stimulate the economy. ciel.org/reports/pandem…
These companies were a mess coming into this crisis and with the oversupply of oil they're in no position to create jobs or stimulate the economy. ciel.org/reports/pandem…
#4. Money should go directly to workers, not line the pockets of CEOs or investors:
Fossil fuel industry workers need a real plan to support them during this crisis and provide a just transition to a clean energy future. Giving money to the companies will just reward the CEOs.
Fossil fuel industry workers need a real plan to support them during this crisis and provide a just transition to a clean energy future. Giving money to the companies will just reward the CEOs.
#5 With a Big Oil Bailout, the public gets all the pain & none of the gain:
A “no strings attached” bailout to the oil & gas sector would leave the public with all the risk & no reward in the form of commitments to limit emissions or wind down production washingtonpost.com/business/2020/…
A “no strings attached” bailout to the oil & gas sector would leave the public with all the risk & no reward in the form of commitments to limit emissions or wind down production washingtonpost.com/business/2020/…
#6. The oil and gas industry is attempting to profit off the coronavirus crisis, endangering public health and the environment:
Just look at the *dozens* of ways the industry has tried to profiteer off the crisis that are listed on this site: nobigoilbailout.com
Just look at the *dozens* of ways the industry has tried to profiteer off the crisis that are listed on this site: nobigoilbailout.com
#7. The oil & gas sector already gets massive government handouts in the form of US government subsidies to the tune of around $20 billion a year. That doesn’t even include all the costs to our environment and public health. priceofoil.org/fossil-fuel-su…
#8. A bailout for Big Oil only worsens the ongoing crisis of climate change:
Fossil fuel companies are driving the climate crisis, another massive structural threat to the economy that could wipe out trillions in value (and human civilization). americanprogress.org/issues/economy…
Fossil fuel companies are driving the climate crisis, another massive structural threat to the economy that could wipe out trillions in value (and human civilization). americanprogress.org/issues/economy…
@threadreaderapp please unroll!
