Op-Ed: The Stimulus Package Is a Climate Disaster

"You’ve probably read reports elsewhere that the $2 trillion coronavirus relief bill is “a draw” between environmental groups and heavily polluting industries. There’s no meaningful investment in clean energy and no incentive for industries to clean up their acts, but on the other hand, the oil industry isn’t getting its request for $3 billion in taxpayer money. The trouble is, there is historical precedent for a massive taxpayer-funded bailout like this one. And that comparison is not flattering for this latest stimulus. 

Back in 2009, the economy was in dire condition. To assist struggling industries, the government pumped out $831 billion in aid, bailing out established sectors like the car industry, but also investing in the economy’s future. A $465 million loan to Tesla helped that company leap ahead of foreign competition, and become the world’s preeminent maker of electric cars. Massive solar energy plants, wind farms, and geothermal energy facilities were constructed. "

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