Texans for Natural Gas Comments on Green New Deal Ahead of Senate Floor Vote
Tue, March 26, 2019
There have been no changes made to the Green New Deal, which means it is just as radical as when it was introduced. A government-mandated shift away from oil and gas would cause higher energy prices, slash education funding in Texas and put millions of hardworking Texans out of a job. The plan is so divorced from reality that its chief sponsor in the Senate won’t even vote for it, and its biggest supporters admit it is unworkable and only ‘aspirational.’ There is nothing aspirational about a plan that cuts funding for teachers and reduces our energy security.
“America will be a net energy exporter next year because of technological innovation and the free market. Socialism would only take us backwards, and if you need proof, just look at Venezuela.”
- Tax revenue from Texas oil and gas production alone will contribute $6.7 billion to the FY 2018-19 budget.
- Oil and gas production provides 336,000 jobs in Texas and supports millions more.
- The economic impact of oil and gas in Texas – over $137 billion – is approximately 10% of our state GDP.
- Since 2010, approximately $70 billion worth of manufacturing investments have been announced in Texas to capitalize on abundant supplies of shale gas.
- In 2017, property tax revenue from oil and gas development provided $1.1 billion for Texas school districts.
- Royalties and tax revenue from record breaking production in 2018 propelled the University of Texas endowment to $31 billion, making it now the second largest endowment in the country.
- Natural gas accounts for 52 percent of all power capacity in Texas.
Under the Green New Deal, these would all be zeros. That’s fewer Texas jobs, less money for Texas schools, and higher monthly energy bills for working families.