American oil and gas companies were often in financial trouble before the COVID-19 economic crisis. Now many want our assistance. At least $50m in taxpayer-backed coronavirus loans meant for small businesses have gone to the fossil fuel industry. That’s since grown to at least $113m. Texas-based Battalion Oil has a $2.2m coronavirus relief loan, after going bankrupt twice recently and facing accusations of excessive spending on executive pay, private planes and luxury vehicles.
www.theguardian.com/business/2020/may/14/us-oil-gas-companies-coronavirus-relief-loan-ppp