Subscribe to Receive the Daily Report

Saturday, March 21st, 2020

Amid Climate Crisis and Raging Pandemic, Trump Blasted for ‘Morally Bankrupt’ Multibillion-Dollar Big Oil Bailout

Author:     Jessica Corbett
Source:     Common Dreams
Publication Date:     Thursday, March 19, 2020
 Link: Amid Climate Crisis and Raging Pandemic, Trump Blasted for ‘Morally Bankrupt’ Multibillion-Dollar Big Oil Bailout
Stephan:   We don't have enough medical masks. We can't extend sick leave pay. The rest of the world is trying to get out of the carbon era as fast as it can. But criminal Trump and his buddies, they want to milk the profits of carbon for as long as they can. And so we have this.

President Donald Trump speaks before signing an executive order for sanctions on Iran’s supreme leader in the Oval Office of the White House on June 24, 2019 as U.S. Treasury Secretary Steven Mnuchin looks on.
Credit: Mandel Ngan/AFP/Getty

Climate advocacy groups responded with swift condemnation Thursday after Treasury Secretary Steven Mnuchin said he will recommend that President Donald Trump ask Congress for as much as $20 billion to purchase oil in what Barron’s reported “would essentially equate to a bailout of the U.S. oil industry, because several U.S. producers would likely go out of business if demand and prices stay low.”

“The Trump administration’s proposal to spend $20 billion for their oil industry buddies is as tone deaf as it is morally bankrupt.”
—Brett Hartl, CBD

“Let’s go out and buy… Fill up the reserve,” Mnuchin said in a Thursday morning interview with Fox Business Network, referring to the Strategic Petroleum Reserve (SPR). The secretary’s comments about potential purchases that could fill the SPR for a decade came after Trump declared Friday that “we’re going to fill it right […]

Read the Full Article