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Republican Congress members upset banks dropping support for fossil fuels

May 11, 2020

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Last week, Republican House members sent a letter to President Donald Trump in which they decried banks’ recent re-evaluations of the risks of fossil fuel investments. While the letter doesn’t call for any particular action, it repeatedly mentions the assistance offered to banks via the Coronavirus Aid, Relief, and Economic Security Act 9 (CARES Act), and it implies that the banks aren’t living up to their end of the deal. Throughout the letter, its signatories seem to ignore the fact that the fossil fuel sector is not the only component of the US energy economy.

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