The U.S. regime decidedly has its priorities in ordering . Apparently , it ’s regard using thecoronavirus outbreakas an excuse to pour money into fossil fuel companies .
The Washington Postreportsthat the Trump administration is considering give up money to the beleaguered industry after Saudi Arabia sound off off an oil price war over the weekend , fuel mostly by the coronavirus eruption that hasslowed demand worldwide . That has erupt the shale oil and gas bubble , which was made possible bycheap loansfrom Wall Street after the 2008 recessional .
That inflow of money on the flash has direct the U.S. to become the world ’s big crude manufacturer . It ’s also help labour a globalrisein methane emission , a nursery gaseous state more clime - warming than carbon copy . And the spindle in oil color and natural gas yield has also led tohuman rights abuses , notably what went down at Standing Rock over the Dakota Access Pipeline .
Photo: Getty
https://gizmodo.com/yearly-oil-demand-is-now-projected-to-drop-for-the-firs-1842211458
But it face like the genocidal party isover : crude oil and gas damage aredown , bankruptciesandlayoffsareup . The world does n’t postulate any more shale oil and gas from the U.S. Production ofoil andgaswas outpacing requirement already , and now due to the current coronavirus pandemic , the house of cards is deflating even more speedily : demand for all form of oil is expected todropfor the first time in a tenner .
This would be a smashing fourth dimension to seriously transition away from fossil fuel and stimulate the economic system by investing in Modern renewable zip base and a just transition program for fossil fuel worker under a Green New Deal . Instead , the Trump administration is reportedly considering pushing Union assistance for shale oil and gasolene companionship hit by plummet rock oil prices amid the coronavirus outbreak . The Post report that billionaire Harold Hamm , the founder of multibillion - dollar fracking business firm Continental Resources and Trump energy consultant , has reached out but not made “ direct ” contact with the presidency to talk about “ any action that the administration might take to protect and keep American interests at this fourth dimension . ”
The Post goes on to cite a senior administration functionary as saying helping fracking companies out is “ one area we will be looking at for place help . ” What do you think they ’ll do with that money ? in all likelihood what they do easily : drill , baby , drill , consequences be imprecate .
Just to recapitulate , that intend the government is weighing whether to practice the public ’s money to bail out companies that are not only destroying the planet , but have also been demo to be economicallyunsustainablewith or without the tot up force per unit area of coronavirus .
I fuck I should n’t be surprised , but fare on . This is a state where millions of people do n’t have healthcare and could present failure if they go to the doctor for coronavirus tests or discussion . The Trump governing body say Medicare and Medicaidmay not coverall healthcare for coronavirus patients . But it thinks we can bail out companies producing a product that ’s forged for the planet thancoaland is n’t evenprofitable ? We ca n’t make trusted people can afford to brave a planetary wellness crisis , but we can afford to defend businesses that knowingly profited off of ecological destruction ? Cool , cool , cool .
capitalism
Daily Newsletter
Get the best tech , scientific discipline , and culture news in your inbox day by day .
word from the future tense , delivered to your present .
Please select your desire newssheet and submit your email to upgrade your inbox .
You May Also Like
