Final PPP Data Reveals Oil, Gas, and Mining Scored Billions While Wind and Solar Were Left in the Cold
Analysis finds 70% of all oil, gas, mining sector corporations awarded ppp bailout.
WASHINGTON - New analysis finds that the Trump Small Business Administration’s (SBA) flawed Paycheck Protection Program (PPP) has been abused by fossil fuel and extractive corporations to rake in billions of dollars. In striking contrast, only 1,100 recipients in the wind and solar sector were awarded funds, while over 22,000 polluting extractive resource corporation cashed in after a review of SBA data.
“Actual struggling businesses that need pandemic relief are not getting it, while billions have flowed to oil, gas, and mining corporations and their wealthy CEOs. It’s no coincidence — but certainly a disservice to taxpayers — that the clean energy wind and solar sector was awarded little in comparison to polluters from the Trump administration,” said Jayson O’Neill, spokesperson for Accountable.US.
The renewable energy sector has struggled during the economic downturn, shedding almost half a million jobs. The Trump administration has ignored calls to invest in a cleaner energy future that would create millions of jobs, instead using taxpayer money to prop up many polluting corporations that were in deep financial trouble well before the pandemic.
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