FOR IMMEDIATE RELEASE

March 10, 2020

Contact:
David Turnbull, david [at] priceofoil [dot] org

Oil Change U.S. says “Absolutely Not” to Oil Bailout

The Washington Post and other outlets reported today that the Trump administration is considering a bailout to the U.S. oil industry in the wake of an oil price war and declining demand in part related to reduced travel and commerce due to the COVID-19 pandemic. In response, David Turnbull, Strategic Communications Director with Oil Change U.S., released the following statement:

“In response to any suggested oil industry bailout, we have two words: Absolutely not.”

“The fossil fuel industry is already the recipient of billions of dollars of wasteful taxpayer subsidies each year. Adding more to that pile would be putting good money after extremely bad. Of course the oil-soaked Trump administration is seizing on a moment of crisis to pad the pockets of their billionaire oil industry friends, but lawmakers in Washington should do whatever they can to stop this from happening. This crisis calls for investment in the future with a Green New Deal, not propping up the dirty past.”

“Rather than bailing out the corporations driving our climate crisis and playing part in a volatile oil price war, we need investment in a Green New Deal to support the people who will be most impacted by this crash: the workers. A Green New Deal can help redeploy oil field workers into jobs that are not constantly at risk from oil’s boom and bust cycles and geopolitical wrangling.”

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