At ‘Shock Doctrine Press Conference,’ Trump Bails Out Oil Industry, Not US Families, as Coronavirus Crisis Intensifies | Common Dreams News

At ‘Shock Doctrine Press Conference,’ Trump Bails Out Oil Industry, Not US Families, as Coronavirus Crisis Intensifies | Common Dreams News

Climate action groups and progressive critics expressed disappointment and outrage on Friday afternoon after President Donald Trump—despite a continued failure to offer far-reaching support to the U.S. public—moved to bolster the bottom lines of oil and gas companies by announcing a massive federal purchase for the nation’s Strategic Petroleum Reserve (SPR).

“Based on the price of oil, I’ve also instructed the Secretary of Energy to purchase at a very good price large quantities of crude oil for storage in the U.S. strategic reserve,” Trump announced during a White House press conference—surrounded by CEOs from major corporations, including Walmart, CVS, and Target—in which he also declared an official national emergency in order to combat the outbreak of the coronavirus.

“With this move, Trump has rolled out a plan to prop up U.S. oil companies before he has even bothered to guarantee paid sick leave for US workers who are going to be on the frontlines of the coronavirus crisis for weeks to come.”
—Alex Doukas, Oil Change International”We’re going to fill it right up to the top,” said of the SPR, but critics were quick to point out that move has everything to do with helping his wealthy friends and cronies in the fossil fuel industry, and nothing to do with helping average people now under threat from the spreading pandemic.

via At ‘Shock Doctrine Press Conference,’ Trump Bails Out Oil Industry, Not US Families, as Coronavirus Crisis Intensifies | Common Dreams News