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Stop the Money Pipeline Profile picture
@StopMoneyPipe
May 7, 2020 • 10 tweets • 6 min read • Read on X
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🧵KUDOS to @RepBarragan @SenJeffMerkley @IlhanMN @BernieSanders @RepHuffman @RepJayapal @EdMarkey @RepAOC for introducing the #ReWINDAct which would stop Trump & Wall Street from bailing out fossil fuels companies! stopthemoneypipeline.com/the-rewind-act…

The bill would: Image
1) 🛑the fossil fuel industry from receiving stimulus money through the Fed or Treasury Image
2)🛑 the expansion of the Strategic Petroleum Reserve Image
3) 🛑the Trump Administration from lowering royalty rates for fossil fuel extraction Image
4)🛑 Wall Street banks from bailing out distressed oil and gas companies Image
5) 🛑 fossil fuel leasing, new comment periods & deregulation during the pandemic Image
6) 🛑 fossil fuel bailouts under the Defense Production Act Image
7) Extend all comment periods during the pandemic to ensure the public has a say Image
Contact your congressional representatives. Ask they co-sponsor this important act & demand it be included in the next stimulus package!

Our friends over at the @SierraClub & @PriceofOil have made it easy to do that. See:

act.oilchangeus.org/sign/ReWIND-Act

act.sierraclub.org/actions/Nation… Image
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More from @StopMoneyPipe

Stop the Money Pipeline Profile picture
May 1
NOW: Senate Budget Committee holds 'Denial, Disinformation & Doublespeak: #BigOil’s Evolving Efforts to Avoid Accountability for Climate Change" hearing. @SenWhitehouse: industry pretends to take climate change seriously, but internally is making Paris climate goals unachievable. Image
It’s time to hold #BigOil accountable, along w those who finance fossil fuels. WATCH HEARING highlighting Big Oil's continued attempts to block climate safety: budget.senate.gov/hearings/denia…
.@RepRaskin: #BigOil’s denial about #climatechange parallels Big Tobacco’s strategy to hide truth about public health impacts of tobacco. State AG’s bringing lawsuits to #BigOil industry & trade associations for causing devastating public health impacts by fossil fuel industry. Image
Read 7 tweets
Stop the Money Pipeline Profile picture
Mar 24, 2023
Join nearly 50,000 people in demanding that public pensions support climate justice & Indigneous rights at big banks and insurance companies annual shareholder meetings this spring.

A🧵

actionnetwork.org/forms/sign-the…
1/ public pensions manage trillions of dollars for everyday Americans: teachers, public sector employees, and firefighters.

They invest that money across the economy, including in the banks and insurance companies enabling new coal, oil, and gas projects.
2/ the pensions of CA, CO & WA alone hold nearly $15 billion in the biggest US banks. The same banks that provided over $1.4 trillion to the fossil fuel industry since 2016.

Those pension funds are overseen by State Treasurers such as @fionama, @DaveYoungCO, & @WaTreasurer
Read 5 tweets
Stop the Money Pipeline Profile picture
May 17, 2022
$52.8 billion worth of investment capital just demanded that @Chase stops greenwashing and passes real climate targets.

Thoughts on why this matters: 🧵👇
1/ In 2021, @Chase set 2030 climate targets using a greenwashing trick called “carbon intensity” -- pledging to reduce the “carbon intensity” of the oil & gas firms it finances.

But “carbon intensity” & reductions in “greenhouse gas emissions” are 2 very different things.
2/ Imagine you are the CEO of an oil firm. Your company owns 500 oil wells; it doesn’t own any windmills. Chase gives you a $1 billion loan. You use that loan to buy 100 new oil wells and 50 windmills.

You now own 100 additional oil wells, right?
Read 9 tweets
Stop the Money Pipeline Profile picture
May 17, 2022
Today, at the annual meeting of @Chase more than $37.9 billion worth of investment capital demanded that the bank stop funding fossil fuel expansion. 🧵 Image
1/ $37.9 billion saying “No more fossil fuel expansion” to @Chase matters. Here’s why:

JPMorgan Chase is the world’s largest funder of fossil fuel expansion, providing nearly $16 billion to finance new coal, oil & gas operations in 2021.
@Chase 2/ Without that funding fossil fuel companies can’t afford to build new tar sands pipelines, fracking wells, or coal plants.

And that matters a whole lot.
Read 9 tweets
Stop the Money Pipeline Profile picture
May 17, 2022
Today, May 17th, youth organizers with many groups and grassroots organizers are gathering outside @jpmorgan @Chase’s NYC headquarters during their annual general meeting.
#StoptheMoneyPipeline #DefundClimateChaos
@FutureCoalition ImageImage
The world is burning, and @jpmorgan @Chase is throwing fuel on the fire – $382 BILLION SINCE 2016.

Communities are urgently calling to keep fossil fuels in the ground.

Yet megabanks like Chase are choosing to fund + enable new fossil fuel projects and human rights abuses! ImageImage
We’re LIVE outside @jpmorgan @Chase’s AGM!
WATCH: fb.watch/d3p2qdHis4/ Image
Read 6 tweets
Stop the Money Pipeline Profile picture
Apr 30, 2020
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
#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.
#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.
Read 10 tweets

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