Author Topic: Texas Legislature advances bills to shield oil and gas from climate initiatives  (Read 885 times)

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Offline Elderberry

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Panola Watchman by Erin Douglas 5/8/2021

Texas Legislature advances bills to shield oil and gas from climate initiatives

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.

More: https://www.panolawatchman.com/general/texas-legislature-advances-bills-to-shield-oil-and-gas-from-climate-initiatives/article_04552f34-af4c-11eb-9851-43081a5f6609.html

Offline IsailedawayfromFR

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Next the legislature should ban any company that wishes to ban financial business with oil and gas companies.
No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington