Monday, July 27, 2020

Trump Uses the Pandemic to Help his Family, Friends and the Fossil Fuel Industry

U.S. President Donald Trump is infamous for his corruption and nepotism and his COVID-19 relief package is no exception. As reported by ProPublica, a venture backed by Trump’s son and Kushner companies, all received tax dollars as part of the federal government's relief package. Businesses tied to Trump’s family and associates stand to receive as much as $21 million in government loans. Trump donors were also major beneficiaries. According to the Associated Press as much as $273 million in federal coronavirus aid was awarded to more than 100 companies that are owned or operated by major Trump donors.

By far his biggest gift was given to oil and gas companies that support the GOP. According to a report from the nonpartisan Campaign Legal Center (CLC), fossil fuel companies that have donated to Republican super PACs got royalty relief and tax breaks. They also had their leases paused by the Trump administration. InfluenceMap research shows the Fed is now heavily overweight with $750 million worth of fossil fuel bonds.  Corruption in Washington flows from the fossil fuel industry.

The Trump administration is also planning to sell off the rights to hundreds of thousands of acres of public lands to fossil fuel companies. This includes lands near national parks like Sequoia (California), Arches and Canyonlands (Utah), Greater Chaco Region (New Mexico) as well as the Arctic National Wildlife Refuge (Alaska).

According to the Washington Post and Fox news, even the Trump administration's closure of the Chinese consulate in Houston is retaliation for China's intimidation of U.S. oil and gas firms in the South China Sea.

Related
Trump's Fossil Fuel Powered Presidency
Trump Loves Fossil Fuels and Hates Renewables
The Trump Administration is Hurting Renewables and Imperiling the Planet

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