Energy & Fuel

"‘Stealth Bailout’ Shovels Millions of Dollars to Oil Companies"

"As it headed toward bankruptcy, Diamond Offshore Drilling Inc. took advantage of a little-noticed provision in the stimulus bill Congress passed in March to get a $9.7 million tax refund. Then, it asked a bankruptcy judge to authorize the same amount as bonuses to nine executives."

Source: Bloomberg, 05/18/2020

"Democrats Target Diseases Spread By Wildlife In $3T Coronavirus Bill"

"The new coronavirus rescue package from House Democrats would dedicate funding to track diseases that spread to humans through wildlife, an effort to prevent any future pandemics similar to COVID-19."

Source: The Hill, 05/15/2020

"Clean Energy Has Shed Nearly 600,000 US Jobs Due To Pandemic: Report"

"The U.S. clean energy sector has lost 17% of its work force, or nearly 600,000 jobs, as stay-at-home orders halt production of components from solar panels to electric cars and slow installations at homes and businesses, according to a report released on Wednesday."

Source: Reuters, 05/14/2020

Oil Firms That Bought Back Stock Got $15.5 Million In Coronavirus Funds

"At least two oil and gas firms that boosted investors' portfolios by buying back stock in 2019 received $15.5 million this year from a program designed to rescue small businesses gutted by the coronavirus pandemic."

Source: Washington Post, 05/13/2020

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