Capitol Hill Is using COVID Relief Money To Bail Out Fossil Fuel Industry and more reckless behavior

[Razoo]

Millions have lost their jobs, 185,000 should not have died and thousands of employers are going out of business all due to the negligence of the right wing radical anti american GOP.

I say COVID 19 has been in America much longer than America was advised. Which brings forward the obvious question “ How long has COVID 19 been allowed penetrate the USA population?”

Expecting an honest answer is nonsense because GOP politicians cannot speak in those terms. They choose spin! The GOP has been negligent since day one.

Pay The Stimulus Money! IT'S PATRIOTIC!!!!!!

The negligent GOP Elected officials pay themselves more than $3,370 per week ( $174,000-$194,000 annually) plus a variety of expense accounts = Over rated and over paid!
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Capitol Hill Is funneling billions upon billons of tax dollars from the COVID relief fund to the fossil fuel industry as we speak. This is reckless use of our tax dollars. Fossil fuel does need bailed out.
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We taxpayers should receive stimulus money @ $ 2000 twice a month to spend in the economy which would assist to insure job security and plenty of economic growth. After all tax dollars do belong to the taxpayers.

Taxpayers are a credible investment for they will see that the tax dollars get back into the economy
pronto aka the practical approach.

Reckless decisions by the GOP government has put millions out of work and 175,00 have died.

The employed did not ask the government to treat the potential coronavirus threat as if there was no reason for concern. As a result COVID 19 came upon us and is not going away. Meanwhile government kept advising no need to worry all will be swell.

Unemployed workers should also receive $600 per week. Perhaps until workers are called back to work or new employment is found that pays a part time living wage @ $33,000 annually or a full time living wage @ $64,500 annually.

No one knows when COVID 19 will go away. Therefore government assistance should remain in place until further notice. Subjecting the nations once employed work force or for that matter any of us to congressional irresponsible behavior every few weeks is not acceptable.

Taxpayers are a credible investment for they will see that the tax dollars get back into the economy
pronto aka the practical approach.

 

[Drawdown]

Perhaps until workers are called back to work or new employment is found that pays a part time living wage @ $33,000 annually or a full time living wage @ $64,500 annually.

Now that is some funny stuff right there. :lamo

 

[Razoo]

Capitol Hill Is funneling billions upon billons of tax dollars from the COVID relief fund to the fossil fuel industry as we speak. This is reckless use of our tax dollars. Fossil fuel does need bailed out.

And the conservatives are allowing the Federal Reserve to own fossil fuel debt and have provided a tax loophole for the fossil fuel industry. Thus in spite of what conservatives claim THEIR BIG GOVERNMENT IS INCREASING TAXES AND DEBT SIMULTANEOUSLY.

 

[Razoo]

The End of Oil? Pandemic Adds to Fossil Fuel Glut, But COVID-19 Relief Money Flows to Oil Industry | Democracy Now!

NTONIA JUHASZ: Yeah. So, you had — first you had the Trump administration say, and Trump himself say, “We’re going to design a ballot specifically for the oil and gas industry.” And there was tremendous pushback against that in the public, and Democrats in Congress said, “No, that’s not going to happen.” So, instead, what we ended up getting is three, essentially, stealth mechanisms that have really heavily tried to prop up this industry, that, left without that support, we would see a much greater shrinkage than we’re seeing right now, although we’re already seeing a good deal of shrinkage.

But so, these three mechanisms were, first, in the CARES Act, the Paycheck Protection Program, documented — a research organization did research for me for my Sierra magazine articles, that found 7,000 oil and gas companies receiving as much as $7 billion in Paycheck Protection Program money. Because the oil and gas industry is dominated by white men, globally and nationally — those are the people that own the companies, and in the U.S. a good deal of the workforce is white men — that also contributed to the overall bias of the PPP program towards white male-owned businesses, so they got Paycheck Protection Program money, which has propped up a lot of companies that wouldn’t — certainly wouldn’t have made it on their own.

Then you had tax loopholes snuck into the CARES Act, which Democrats are trying to close in this next version of the CARES Act, that allowed over $3 billion to go to at least 50 publicly traded oil and gas companies, and probably many, many more, because we only know about the publicly traded ones because they have to report it in their reports to the Security Exchange Commission, and private companies don’t have to do that.
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But I would say the most problematic pot is this unprecedented move to have the Federal Reserve, for the first time — so, excuse me, the American taxpayer, through the Federal Reserve, for the first time, now become owners in oil company debt.

So, the Federal Reserve set up, through BlackRock, several different mechanisms to try to prop up the economy. And through two measures, the oil industry has received inordinate support. And the research group InfluenceMap looked at one of these mechanisms and found that the Federal Reserve’s funding is overweighted in fossil fuels. So, through BlackRock, you and I, the American taxpayer, are now owners in debt, through the Fed, of Exxon, of Chevron, of Energy Transfer Partners, of Phillips 66, of Schlumberger, which is a company that just moved itself out of U.S. fracking altogether, after we bought up their debt.
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[Razoo]

The End of Oil? Pandemic Adds to Fossil Fuel Glut, But COVID-19 Relief Money Flows to Oil Industry | Democracy Now!

NTONIA JUHASZ: Yeah. So, you had — first you had the Trump administration say, and Trump himself say, “We’re going to design a ballot specifically for the oil and gas industry.” And there was tremendous pushback against that in the public, and Democrats in Congress said, “No, that’s not going to happen.” So, instead, what we ended up getting is three, essentially, stealth mechanisms that have really heavily tried to prop up this industry, that, left without that support, we would see a much greater shrinkage than we’re seeing right now, although we’re already seeing a good deal of shrinkage.

But so, these three mechanisms were, first, in the CARES Act, the Paycheck Protection Program, documented — a research organization did research for me for my Sierra magazine articles, that found 7,000 oil and gas companies receiving as much as $7 billion in Paycheck Protection Program money. Because the oil and gas industry is dominated by white men, globally and nationally — those are the people that own the companies, and in the U.S. a good deal of the workforce is white men — that also contributed to the overall bias of the PPP program towards white male-owned businesses, so they got Paycheck Protection Program money, which has propped up a lot of companies that wouldn’t — certainly wouldn’t have made it on their own.

Then you had tax loopholes snuck into the CARES Act, which Democrats are trying to close in this next version of the CARES Act, that allowed over $3 billion to go to at least 50 publicly traded oil and gas companies, and probably many, many more, because we only know about the publicly traded ones because they have to report it in their reports to the Security Exchange Commission, and private companies don’t have to do that.
============================================================================================================================================================
But I would say the most problematic pot is this unprecedented move to have the Federal Reserve, for the first time — so, excuse me, the American taxpayer, through the Federal Reserve, for the first time, now become owners in oil company debt.

So, the Federal Reserve set up, through BlackRock, several different mechanisms to try to prop up the economy. And through two measures, the oil industry has received inordinate support. And the research group InfluenceMap looked at one of these mechanisms and found that the Federal Reserve’s funding is overweighted in fossil fuels. So, through BlackRock, you and I, the American taxpayer, are now owners in debt, through the Fed, of Exxon, of Chevron, of Energy Transfer Partners, of Phillips 66, of Schlumberger, which is a company that just moved itself out of U.S. fracking altogether, after we bought up their debt.
==============================================================================================================================================================================================

The End of Oil? Pandemic Adds to Fossil Fuel Glut, But COVID-19 Relief Money Flows to Oil Industry | Democracy Now!