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Coronavirus

Sixty-Nine Organizations Tell the Federal Reserve to Stop Buying Fossil Fuel Debt

July 30, 2020By Collin ReesBlog Post, News, Press Releases

In a letter to the Federal Reserve, 69 organizations called on the Fed to stop purchasing corporate debt from the fossil fuel sector through its COVID-19 emergency facilities.

Campaigners: G20 financial and political support for fossil fuels rises amidst COVID-19 crisis

July 15, 2020By OCI TeamBlog Post, News, Press Releases, Stop Funding Fossils 1 Comment

Grassroots campaigners at a press briefing yesterday said political leaders are failing to ensure a just and sustainable recovery, as new data shows that the world’s 20 richest countries have committed more than USD 150 billion of public money to support fossil fuels since the start of the COVID-19 crisis.

Steny Hoyer Shills for Big Oil as HEROES Acts Shuns Safeguards Against a Fossil Fuel Bailout

May 12, 2020By Collin ReesNews, Press Releases

“Equating a bailout for Big Oil with basic protections for nurses and healthcare workers in a pandemic is completely egregious,” said Rees of Hoyer’s comments. 

ReWIND Act Will Help Make Sure Money Gets to People, Not Polluters

May 5, 2020By OCI TeamNews, Press Releases, Stop Funding Fossils

Hundreds of environmental, social justice, labor, and progressive organizations applauded the release of the ReWIND Act, new legislation introduced today that would block a Big Oil Bailout and ensure relief money flows to people, not polluters.

Statement in Advance of Petersberg Climate Dialogue High-Level Segment

April 27, 2020By OCI TeamEnergy Transitions & Futures, News, Press Releases

“A managed decline of oil and gas production that supports affected communities and workers must be central in a just and green recovery from the COVID-19 crisis,” said ver der Burg.

Trump’s Earth Day gift to Big Oil: We will buy your near worthless product

April 23, 2020By Andy RowellBlog Post

There is no doubt we are at a historical moment with the industry in deep structural and financial trouble and where a post-COVID-19 recovery could see a radical shift away from oil and into a just transition into renewables. But will that happen?

A resilient recovery means a managed decline of oil and gas production — here’s how we get there

April 22, 2020By LaurieBlog Post, Energy Transitions & Futures, Featured, Stop Funding Fossils

This week the seemingly impossible happened: U.S. oil futures prices went negative for the first time in history. What happens next is up to us.

Environmentalists Blast Big Oil’s Attempts to Hijack the Fed’s Main Street Lending Program

April 21, 2020By OCI TeamNews, Press Releases

Environmentalists are blasting attempts by oil and gas companies to hijack the Fed’s Main Street Lending Program in order to pay down their debt — debt that began skyrocketing long before the coronavirus impacted the industry.

Groups: New Mexico Delegation Must Support People, Oppose Big Oil Bailout

April 20, 2020By Collin ReesNews, Press Releases

Indigenous, community, and conservation groups today called on New Mexico’s congressional delegation to oppose bailing out fossil fuel companies with emergency aid during the coronavirus pandemic, and to focus all support on vulnerable communities.

Discussion Paper: The Case for Public Ownership of the Fossil Fuel Industry

April 14, 2020By Collin ReesBriefings, Featured, Stopping Carbon Lock-In 3 Comments

The U.S. government should acquire ownership and control over fossil fuel companies to safeguard workers, avoid taxpayer-funded bailouts, restore communities, save taxpayer dollars, and ensure an eventual managed phase-out of coal, oil, and gas production.

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