The industry was shedding jobs and struggling to secure financing for years before the coronavirus pandemic and global price war threw the industry into a tailspin. Wall Street has tightened the purse strings as gas companies have taken on hundreds of billions of dollars in debt they have no hope of ever repaying. The gas industry is a financial house of cards – it’s time to build a more secure clean energy future.
GAS PROFITS COME AT THE EXPENSE OF MARGINALIZED COMMUNITIES
The industry is desperate to expand the use of its dirty product by building more gas export, plastics and petrochemical facilities, often near communities of color that already live with elevated levels of air and water pollution. Any short-term profits the industry gets will be just that – short term – while the public will be living with long-term consequences for the climate and air quality.