Hundreds of billions will be going to energy companies - Politics | PoFo

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They shouldn't be getting squat.

"Fossil fuel companies and coal-powered utilities in the US are set for a potential bonanza under federal government plans for a bond bailout, part of the rescue package for the coronavirus crisis.

Jason Disterhoft, a senior campaigner at Rainforest Action Network, which conducted the study, said public money should be used to bail out companies only with strict conditions attached. “Our concern is that these recovery funds should be prioritising people and communities and they are going instead to big companies to pay down their debts”

“Recovery funds have to go to workers and environmental clean-up first, not bonuses or dividends, and companies should be required to stop expanding fossil fuels and phase out their fossil business – otherwise we’re just lighting public money on fire and locking in the coming climate crash into the bargain.”

A separate study last week by economists and Oxford University found that putting public money into a green recovery would produce higher economic returns and create more jobs in both the short and longer term than pouring the same money into the current fossil fuel economy."

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