Don't bail out fossil fuels. Buy them out instead

NEWSWEEK | The pandemic-induced global financial meltdown has rocked the fossil fuel industry, leaving American drilling and fracking companies begging for bailouts. Then things slid from crisis to catastrophe as crude prices temporarily plunged into negative territory, leading President Donald Trump to tweet this week that he would "never let the great U.S. Oil & Gas Industry down," signaling his renewed push to use taxpayers' money to throw fossil fuels a federal lifeline.

Despite Trump's bluster, the industry continues to flounder. So here's a better idea: Rather than bailing out the fossil fuel industry, let's buy it out instead.

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