Bank lending to fossil fuel industry down 9% in 2020
Sorry about the formatting of the prior post on the bank lending being down 9%. You never know what you get with cut and paste.
I was surprised to see the lending was only down 9%. With everything we hear about cutting capex, merger and acquisition, companies paying down their debt, banks cutting their lending for fossil fuel, I thought the lending would have been down a bit more. However, I have no idea if international companies are following the same steps as the North American copmanies in improving their balance sheets.