Over 5,600 Fossil Fuel Companies Have Taken At Least $3Bn In Covid Aid

“Businesses include oil and gas drillers and coal mine operators, an analysis by Documented and the Guardian finds”

“More than 5,600 companies in the fossil fuel industry have taken a minimum of $3bn in coronavirus aid from the US federal government, according to an analysis by Documented and the Guardian of newly released data.

The businesses include oil and gas drillers and coal mine operators, as well as refiners, pipeline companies and firms that provide services to the industry.

The Small Business Administration (SBA) on Monday released the data under pressure for further transparency, including from journalism outlets that had sued demanding the public records.

The $3bn figure is probably far less than the companies actually received. The SBA did not disclose the specific amounts of loans and instead listed ranges. On the high end, fossil fuel companies could have received up to $6.7bn. At least 475 fossil fuel companies received at least $2m, according to the data the SBA released that it collected from banks.”

Emily Holden reports for the Guardian July 7, 2020.