Tag: oil and gas finance

  • Over 40 groups to Biden: Hochberg’s fossil fuel record makes him unfit to be a top aide

    FOR IMMEDIATE RELEASE

    December 7, 2020

    Contact:
    Collin Rees, collin [at] priceofoil.org
    Kaela Bamberger, kaela [at] foe.org

    Over 40 groups send letter: Hochberg’s fossil fuel record makes him unfit to be a top aide for Biden

    WASHINGTON, DC — Over 40 environmental groups sent a letter today to the Biden Transition Team decrying Fred Hochberg’s potential leadership as a top aide in the Biden Administration. The signatories to the letter include Friends of the Earth US, Oil Change U.S., Greenpeace USA, the Rainforest Action Network, and the Center for Biological Diversity.

    Hochberg served as the President and Chairman of the US Export-Import Bank (EXIM), the official U.S. export credit agency. Hochberg’s fossil fueled legacy at EXIM disqualifies him for a top aide position with the new Biden administration, the groups claim.

    “Hochberg was a disaster at EXIM, turning the institution into the fossil fuel bank,” said Doug Norlen, economic policy director at Friends of the Earth U.S. “Under Hochberg’s leadership, EXIM supported projects like the Sasan coal plant and mine that have resulted in at least 36 deaths. This cruel legacy means Hochberg has forfeited his right to a place in the Biden administration.”

    Hochberg was shortlisted in early November as a potential candidate for U.S. Trade Representative, as well as other high-level positions in the Biden administration.

    “The legacy of Fred Hochberg’s Export-Import Bank is filled with climate destruction and egregious human rights violations,” said Collin Rees, senior campaigner at Oil Change U.S. “Joe Biden must move forward and implement a swift end to U.S. fossil fuel finance — and that means Fred Hochberg shouldn’t be allowed anywhere near power in the next administration.”

    “Given his record of support for fossil fuel expansion world-wide, and for deadly, polluting, and corruption-inducing projects, we urge you to reject Fred Hochberg for U.S. Trade Representative and other key administration positions,” the letter reads.

    Fred Hochberg’s consideration for a top position is in direct violation of Biden’s pledge to jumpstart a Presidency focused on climate solutions. In his seven years at EXIM under Obama, Hochberg oversaw USD 34 billion in investments in fossil fuel projects, which is three times as much as EXIM spent on fossil fuels the previous eight years under George W. Bush.

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  • Hoyer Shills for Big Oil as HEROES Acts Shuns Safeguards Against a Fossil Fuel Bailout

    FOR IMMEDIATE RELEASE

    May 12, 2020

    CONTACT:
    Collin Rees, collin [at] priceofoil.org

    Steny Hoyer Shills for Big Oil as HEROES Acts Shuns Safeguards Against a Fossil Fuel Bailout

    WASHINGTON, DC — Today, Democratic House leadership released the 1,800-page HEROES Act, the first proposal for the next round of COVID-19 stimulus efforts. Despite calling for over $3 trillion in relief funds, the draft bill does not contain protections to prevent heavily indebted fossil fuel companies from accessing this money. 

    Meanwhile, House Majority Leader Steny Hoyer told the media he supports a multibillion-dollar bailout of the oil and gas industry through Strategic Petroleum Reserve oil purchases, comparing this to ensuring hospitals have a ready supply of personal protective equipment. In response, Collin Rees, Senior Campaigner with Oil Change U.S., released the following statement: 

    “Steny Hoyer’s crass comments show why the fossil fuel industry continues to clamor for a bailout to pay off its past bad debts — because leaders like Rep. Hoyer refuse to rule it out. Equating a bailout for Big Oil with basic protections for nurses and healthcare workers in a pandemic is completely egregious. 

    “House leadership must stand up for working people without throwing a lifeline to fossil fuel billionaires. That means including the provisions of the ReWIND Act in the next iteration of the HEROES Act and continuing to fight against Big Oil bailouts in future stimulus packages. 

    “The HEROES Act contains important provisions to aid frontline and essential workers, as well as a critical prohibition against utility shutoffs during the COVID-19 pandemic. These are key pieces of a humane response to deliver urgently needed aid to working people, but they can’t come at the expense of locking in climate catastrophe and bailing out fossil fuel billionaires and their Wall Street friends. It’s time to put people over polluters once and for all.”

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