Bahrain Oil Projects Gets U.S. Funding Despite Climate Agenda

The U.S. Export-Import Bank approved a loan guarantee of $500 million for a Bahrain oil project despite opposition from Democrats noting the move would compromise the Biden administration’s hard line on climate change. Last month, the Export-Import Bank voted to notify Congress that it plans to underwrite a loan of more than $100 million to the borrower, Bahrain’s state company Bapco Energies. The money would be used to drill more than 400 oil and gas wells in the Middle Eastern country. The project will see the involvement of SLB,…