US fossil fuel giants set for a coronavirus bailout bonanza
by Fiona Harvey Environment correspondent from Environment | The Guardian on (#53BM6)
Exclusive: oil, coal and fracking companies in line to benefit from $750bn bond scheme
Fossil fuel companies and coal-powered utilities in the US are set for a potential bonanza under federal government plans for a bond bailout, part of the rescue package for the coronavirus crisis.
At least 90 fossil fuel companies, many of them established giants such as ExxonMobil, Chevron and Koch Industries, stand to gain from the Federal Reserve's coronavirus bond buyback programme, alongside more than 150 utilities including coal-heavy firms such as American Electric Power and Duke Energy, according to a new analysis.
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