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US Fossil Fuel Giants Set for a $750 Billion Bond Coronavirus Bailout Bonanza

10/4/2020

 
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.  At least 90 fossil fuel companies, many of them established giants such as ExxonMobil, Chevron and Koch Industries, stand to gain from the Federal Reserve’s coronavirus bond buyback programme, alongside more than 150 utilities including coal-heavy firms such as American Electric Power and Duke Energy, according to a new analysis. - The Guardian
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Frederick Thomas
10/4/2020 03:08:28 pm

The article states that a bailout is needed for Fossil Fuel giants and Electricity companies Due to the Covid-19 pandemic a lot of companies are losing large sum of money due to the economic impact of this pandemic. The funds are a repayment plan bailout.
This helps these companies to continue to provide essential aid to people.
Fossil fuel is a environmental issue so it truly connects to our course study.

Shane Murphy
10/4/2020 04:11:24 pm

The article shows how the coronavirus is affecting our giant energy com ponies causing them to need a bailout that in turn will be paid out. This will allow for these essential companies to continuing function for essential reasons

Cameron Gilluly
10/4/2020 06:00:08 pm

This article is about major fossil fuel companies receiving a massive bailout from the federal government. The article says that the companies will be accepting $750 billion in funding through this payback program. Fossil fuel emission is something that helps contribute to disasters that we see all over the world.

Kaiya Bullock
10/6/2020 11:37:46 am

Like many companies around the world, big oil and other fossil fuel companies are suffering because of COVID-19. In the US we have not yet put in the money and effort to rely on renewable resources like other countries. Because of this, fossil fuel companies are getting a $750 billion buy out from the US government to continue in this difficult time. I personally think this is not the best use of government funds. We will need to make strides toward renewable energy anyway because we are depleting the Earth's resources, why not start that effort now?

Prof Jeff
10/7/2020 09:29:30 am

Kaiya, good to see you commenting with your usual insight. :)

Michael Wolman
10/10/2020 12:03:57 pm

Due to COVID-19 major companies have been effected financially. Oil and other fuel fossils are one those major companies who have been impacted from COVID 19. The fossil companies got a bailout of 750 million dollars. Fossil fuel causes disasters all over the world. I wish the government was able to use that bailout money and find a new reusable source that would not effect our earths atmosphere.

michael wolman
10/10/2020 12:06:59 pm

sorry meant to say 750 Billion dollars

Allie Silva
10/10/2020 12:28:36 pm

This article goes over the massive bailout of major fossil fuel companies like Exxon and Chevron, due to COVID-19. These companies received a bailout of 750 billion dollars due to this pandemic. Fossil fuel companies make a major impact on the environment which is why it relates to this course.


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