By Dana Drugmand • Thursday, April 2, 2020, DESMOG.
Thousands of Americans are dying, millions have filed for unemployment, and frontline health care workers are risking their lives as the coronavirus pandemic sweeps across the U.S. In the midst of this crisis, the fossil fuel industry, particularly the oil and gas sector, has been actively seeking both financial relief and deregulation or dismantling of environmental protection measures.
A new briefing by UK-based think tank InfluenceMap summarizes this fossil fuel lobbying during the time of the pandemic, pointing to specific examples of how fossil fuel interests around the world are using the cover of the coronavirus crisis to advance their agenda.
In the U.S., the top oil and gas producer in the world, this activity has been particularly pronounced. While the oil and gas sector is struggling amid plummeting prices and demand, the struggle is due to factors far beyond the pandemic, and mostly of the industry’s own making.
Many shale companies had amassed large debts that allowed them to rapidly spend and expand production, for example. And the oil and gas giant ExxonMobil’s stock hit a 10-year low in late January, and a 15-year low by March 5, before the pandemic reached a crisis point in the U.S.