U.S. Fossil Fuel Sector Has Come Out Far Ahead of Renewables in Pandemic Relief, Recent Policies

by Lisa Martine Jenkins (Morning Consult) Energy Policy Tracker: Since March, U.S. has devoted more to its fossil fuel sector than any other G-20 country -- At least $71.6 billion in federal funds has been allocated directly or indirectly to the U.S. fossil fuel industry since the beginning of the coronavirus pandemic, while roughly $349.5 million has been devoted to renewable energy, according to data from the new international Energy Policy Tracker. And projects involving multiple energy sources — such as public transportation — have received at least $26 billion, according to the data.

The tracker also found that one Pennsylvania policy change committed $667 million to fossil fuels, while California and New York have pledged a combined $999.8 million to renewables. The data has been compiled by the project’s six core members: five policy institutions and Columbia University.

While segments of both the oil and gas and renewables industries pushed for assistance in relief packages like the CARES Act, the tracker indicates that the only aid that benefited the energy sector came in the form of rescue for the transportation sector.

According to the calculations by the policy tracker, at least $3.8 billion has been disbursed to energy companies through the program, the vast majority (93.5 percent) to fossil fuel companies. READ MORE