Two bills that were advanced by the Texas Legislature this week attempt to protect the state’s oil and gas industry from efforts to reduce greenhouse gas emissions.
The House on Tuesday gave its final approval to Senate Bill 13, which would require state entities — including state pension funds and Texas’ massive K-12 school endowment — to divest from companies that cut ties with or “boycott” fossil fuel companies.
The legislation bites back at some Wall Street investors that have pulled financial support for the oil industry in an effort to curb carbon emissions that contribute to climate change.
“Oil and gas is the lifeblood of the Texas economy,” state Rep. Phil King, R-Weatherford, said on the House floor Monday. “In the world of capital, there’s a movement to deny funds to businesses that will not sign on to extreme anti-fossil fuel policy.”
The bill will be reviewed again in the Senate with the new amendment before it heads to the governor’s desk.
In the Senate, lawmakers on Tuesday sent a bill to Gov. Greg Abbott that would bar local municipalities from banning natural gas as a fuel source when constructing new homes, subdivisions, and other buildings.
It’s a response to trends in California and other states where cities have, in climate action plans, required new homes or buildings to be heated with electricity, rather than gas, to reduce greenhouse gas emissions.
At least a dozen similar bills have been filed in states including Kansas, Minnesota, and Ohio. In Texas, however, House Bill 17 has been pushed as a response to the power outages caused by the February winter storm and resulting power crisis.
The bill would prevent cities or municipalities from “discriminating” against natural gas by barring them from restricting the use of a utility provider.
Abbott is likely to sign the bill to prohibit bans on gas having announced his support for legislation that prohibits counties from restricting the use of natural gas appliances while visiting Midland in January.
Senate Bill 13 also has the support of top Republican leaders in the state. In February, Lt. Gov. Dan Patrick said legislation to prohibit the state from doing business with firms that “boycott” oil and gas companies was a priority and would “pass easily,” according to the Austin American-Statesman.
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Looks like Schumer taught those Texans a valuable lesson … https://newtube.app/user/RAOB/8ydbQgs
Don’t rely upon Wind and Solar Power put your energy future in Fossil Fuels forget this Keep it in the Ground load of poppycock