350 Wenatchee Climate Conversations NCW

Over the last few weeks we’ve seen an amazing string of victories showing the power of people over pipelines. The Dakota Access, Atlantic Coast Pipeline, and Keystone XL pipelines have all been delayed, suspended, or cancelled entirely.

But even as we beat these pipelines the fossil fuel industry is looking for more ways to build pipelines to line their pockets at the expense of communities across the country. Their current plan: funnel tens of billions of dollars through the Federal Reserve into their own coffers under the guise of coronavirus relief.

Click here to sign the petition and tell the Federal Reserve to stop giving special treatment to fossil fuel companies. Prioritize people instead of polluters — especially in the midst of a pandemic that has put so many people out of work.

The coronavirus has been devastating. Over 130,000 people have lost their lives. More than 40 million Americans are out of work. Thousands of small businesses are going bankrupt. The pain is especially acute in Black communities, Indigenous nations and other communities of color.

Congress has put the Federal Reserve in charge of managing trillions of dollars of relief. Some of that money has already been spent, but a lot of it is waiting to be distributed. And right now, it looks like instead of going to communities, way too much of it is going to go to fossil fuel corporations.

Click here to tell the Federal Reserve to prioritize people, not polluters, by stopping handouts to the fossil fuel industry.

We’re already getting some clear warning signs from the way that the Fed is managing its $250 billion corporate bond-buying program.

According to a recent report from our friends at Influence Map, from the first $1.3 billion in corporate debt purchased by the fed, around 8% went to fossil fuel companies― even though the oil, gas and coal sector comprises just 3% of the overall market.

At this rate, a full $19 billion if not more could go to fossil fuels from this one program alone. That’s on top of the estimated $3.9 billion the industry has received from the Paycheck Protection Program and at least $1.9 billion in tax credits it has received from the CARES Act.

The fossil fuel industry is the last thing we should be investing in right now. Their pollution is endangering public health, especially in communities of color. They’re constantly lobbying the Trump Administration for handouts. And they’re making the climate crisis worse.

We can’t afford to let the Federal Reserve use our public dollars to give massive handouts to failing fossil fuel companies — especially when so many small businesses, families, and communities are struggling to survive.

Click here to sign our letter to the Federal Reserve telling them to stop giving money to the fossil fuel industry and invest in communities instead.

These Fed programs have just begun to operate. Hundreds of billions more dollars are still waiting to be distributed.

If we don’t act now, a lot of that money could go to the fossil fuel industry instead of people in need.

But if we make our voices heard, we have a chance to redirect this money pipeline in a new direction: to those on the frontlines of this crisis.

Let’s make some noise,
Stop the Money Pipeline

P.S. Our friends at the YEARS Project made an excellent video explaining just how dangerous the Federal Reserve’s current plans are. Check out the video on Facebook, Twitter, or Instagram.

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