Quote:
Originally Posted by Botten
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In 2020, there were indeed requests from the oil refining sector for financial assistance due to the severe economic impact of the COVID-19 pandemic on their operations.
In the U.S., while there was no direct, explicit mention of refineries seeking a bailout package specifically, the broader oil and gas industry, which includes refineries, benefited significantly from government relief efforts. The industry received more than $10 billion in various forms of aid, including tax benefits from the CARES Act and support through the Federal Reserve's Main Street Lending Program, which was adjusted to accommodate oil and gas firms. This was noted by sources like Quartz (qz.com) and Reuters, detailing how companies were struggling with low oil prices and were seeking liquidity to survive.
Also China was being a penis about the Jones Act to bully sniffy into a waiver program. He didn't go for it.