WASHINGTON – Today the White House announced a policy to essentially rent out tens of millions of barrels of storage space to companies coping with an oversupply of oil.
In response, Food & Water Action Policy Director Mitch Jones released the following statement:
“The Trump administration is desperately seeking schemes to bail out its fossil fuel billionaire friends. This latest stunt is proof that the White House has no coherent policies that would address the economic crisis related to the COVID pandemic, or the climate catastrophe created by the burning of fossil fuels.
“These companies have recklessly created an oil glut in recent years to prop up their faulty and failing business model. Now they are trying to use this public health crisis to have the federal government rescue them.
“Giving the oil industry a place to park dirty fuel is a dangerous gambit, and a pathetic attempt to delay the inevitable and necessary transition off fossil fuels. At a moment of global crisis, the correct course of action is to buy out the oil and gas industry and embark on a massive program to create millions of new jobs in clean, renewable energy systems.”