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STRATEGIST: There's a decent chance the US government will bail out the oil industry

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STRATEGIST: There's a decent chance the US government will bail out the oil industry - Yahoo Finance

Are you freaking kidding me? There is absolutely no way this should happen. If Congress even considers sending a dime of bailout money to the Oil Industry, I will be calling and writing my congressmen in protest. And I am not that politically active. We need to use that money to move to renewable energy ASAP. The Oil Industry has done much to hold back progress towards that and has spent millions of dollars on denying science and lobbying congress in their favor. There is no way a bailout would be acceptable.
 
Don't fear. Tensions between Saudi Arabia and Iran will soon turn into war and send the price of oil skyrocketing again. With billions of dollars to be made overnight, I'm sure there are various entities in the world working behind the scenes to help make this happen.
 
Dated, but no doubt more now.
Fossil Fuels Received $5.9 Trillion In Subsidies in 2020, Report Finds. Coal, oil, and natural gas received $5.9 trillion in subsidies in 2020 — or roughly $11 million every minute — according to a new analysis from the International Monetary Fund. Explicit subsidies accounted for only 8 percent of the total.
 
  • Informative
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