﻿{"id":1843,"date":"2018-07-20T07:00:56","date_gmt":"2018-07-20T12:00:56","guid":{"rendered":"http:\/\/steer.com\/?p=1843"},"modified":"2018-07-20T07:00:56","modified_gmt":"2018-07-20T12:00:56","slug":"how-green-billionaire-tom-steyers-policies-would-destroy-the-texas-economy","status":"publish","type":"post","link":"https:\/\/txogamsn.txoga.org\/steer\/2018\/07\/20\/how-green-billionaire-tom-steyers-policies-would-destroy-the-texas-economy\/","title":{"rendered":"How Green Billionaire Tom Steyer\u2019s Policies Would Destroy the Texas Economy"},"content":{"rendered":"<p><span style=\"font-weight: 400\">This week, San Francisco billionaire and activist Tom Steyer held a <\/span><a href=\"https:\/\/www.needtoimpeach.com\/sanantonio\/?utm_campaign=sg_email&amp;utm_source=needtoimpeach&amp;utm_medium=email\"><span style=\"font-weight: 400\">town hall<\/span><\/a><span style=\"font-weight: 400\"> in San Antonio, part of his extreme campaign to impeach President Trump. But Steyer is better known for another fringe effort: he has spent millions of dollars bankrolling the \u201cKeep it in the Ground\u201d movement to ban oil and natural gas production. \u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">As founder of <\/span><a href=\"https:\/\/nextgenamerica.org\/\"><span style=\"font-weight: 400\">NextGen Climate<\/span><\/a><span style=\"font-weight: 400\">, Steyer launched a crusade against affordable energy, trying (unsuccessfully) to implement bans on fracking and indeed all fossil fuels. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Without question, Steyer\u2019s anti-energy policies are anti-Texas. As the top oil and natural gas producer in the United States, Texas relies on energy development to keep our economy strong. \u00a0In Steyer\u2019s radical vision for America, families and businesses in San Antonio and across Texas would suffer. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Here are five ways Tom Steyer\u2019s radical climate agenda is bad news for Texas.<\/span><\/p>\n<ul>\n<li><b>Electricity Prices Would Skyrocket<span style=\"font-weight: 400\">. \u00a0Natural gas makes up about half of our state\u2019s electric power capacity, providing affordable energy for businesses and families. Since 2008, power generation from natural gas in Texas has increased by <\/span><a href=\"http:\/\/www.texansfornaturalgas.com\/texas_households_pay_less_for_energy_as_power_grid_uses_more_natural_gas\"><span style=\"font-weight: 400\">17 percent<\/span><\/a><span style=\"font-weight: 400\"> while residential electricity prices have fallen by <\/span><a href=\"http:\/\/www.texansfornaturalgas.com\/texas_households_pay_less_for_energy_as_power_grid_uses_more_natural_gas\"><span style=\"font-weight: 400\">16 percent<\/span><\/a><span style=\"font-weight: 400\">. \u00a0In addition, from 2008 to 2016, the average price of natural gas delivered to consumers \u2013 which is used for home heating \u2013 decreased by <\/span><a href=\"http:\/\/www.texansfornaturalgas.com\/texas_households_pay_less_for_energy_as_power_grid_uses_more_natural_gas\"><span style=\"font-weight: 400\">15 percent<\/span><\/a><span style=\"font-weight: 400\">. \u00a0\u00a0<\/span><\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">In San Antonio, natural gas accounts for <\/span><a href=\"https:\/\/www.expressnews.com\/business\/eagle-ford-energy\/article\/CPS-Energy-plans-to-generate-half-its-power-from-12733089.php\"><span style=\"font-weight: 400\">45 percent<\/span><\/a><span style=\"font-weight: 400\"> of the power provided by CPS Energy and has helped the city\u2019s electricity rates be <\/span><a href=\"https:\/\/www.bizjournals.com\/sanantonio\/news\/2017\/07\/12\/survey-cps-energy-below-state-average-for.html\"><span style=\"font-weight: 400\">lower<\/span><\/a><span style=\"font-weight: 400\"> than both the state and national averages. Without natural gas, families in San Antonio will unnecessarily see their monthly electricity bills increase. <\/span><\/p>\n<ul>\n<li><b>Millions of Hard-Working Texans Would Lose Their Jobs. <span style=\"font-weight: 400\">The oil and gas industry directly employs over <\/span><a href=\"http:\/\/www.tipro.org\/UserFiles\/TIPRO_2018_State_of_Energy_Report.pdf\"><span style=\"font-weight: 400\">325,000<\/span><\/a><span style=\"font-weight: 400\"> men and women in Texas, representing over 39 percent of all oil and gas jobs in the country. \u00a0Texas\u2019 oil and gas industry indirectly supports millions of jobs in the fields of manufacturing, pipeline construction, technology, and more. \u00a0<\/span><\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">San Antonio has prospered thanks to nearby oil and gas production: <\/span><a href=\"https:\/\/ccbr.iedtexas.org\/wp-content\/uploads\/2017\/06\/efs-report-19-june-2017.pdf\"><span style=\"font-weight: 400\">23,525 jobs<\/span><\/a><span style=\"font-weight: 400\"> in Bexar County were supported by the Eagle Ford Shale in 2016. According to the <\/span><a href=\"https:\/\/www.brookings.edu\/blog\/the-avenue\/2018\/02\/26\/which-metros-are-achieving-true-economic-success\/\"><span style=\"font-weight: 400\">Brookings Institution<\/span><\/a><span style=\"font-weight: 400\">, domestic energy production has helped San Antonio be one of six metro areas to achieve \u201ctruly inclusive economic growth and prosperity across the decade.\u201d <\/span><\/p>\n<ul>\n<li><b>Funding for Students and Schools Would be Cut<span style=\"font-weight: 400\">. In Texas, revenue from oil and natural gas production helps fund schools and universities. \u00a0In fiscal year 2017, Texas school districts received $1.1 billion in property taxes associated with oil and gas development. \u00a0In addition, <\/span><a href=\"blank\"><span style=\"font-weight: 400\">$995 million<\/span><\/a><span style=\"font-weight: 400\"> was deposited into the Permanent School Fund in 2016 from oil and gas revenues. <\/span><\/b><\/li>\n<li><b>Billions of Dollars in Government Revenue Would be Lost<span style=\"font-weight: 400\">. In FY 2017, the oil and gas industry <\/span><a href=\"https:\/\/www.txoga.org\/release-texas-oil-natural-gas-industry-paid-11-billion-taxes-royalties-2017-2016\/\"><span style=\"font-weight: 400\">paid<\/span><\/a><span style=\"font-weight: 400\"> over $11 billion in state and local taxes and state royalties. \u00a0This is the equivalent of $30 million a day for services like education, first responders, and roads. <\/span><\/b><\/li>\n<li><b>Our Nation\u2019s Energy Security Would Be Compromised<span style=\"font-weight: 400\">. The Permian Basin and the Eagle Ford Shale are among the most prolific oil and natural gas producing regions in the country. Texas produces approximately <\/span><a href=\"https:\/\/www.eia.gov\/dnav\/ng\/ng_prod_sum_a_EPG0_VGM_mmcf_a.htm\"><span style=\"font-weight: 400\">24 percent<\/span><\/a><span style=\"font-weight: 400\"> of all U.S. natural gas, and nearly <\/span><a href=\"https:\/\/www.txoga.org\/release-texas-oil-natural-gas-industry-paid-11-billion-taxes-royalties-2017-2016\/\"><span style=\"font-weight: 400\">40 percent<\/span><\/a> <span style=\"font-weight: 400\">of the nation\u2019s crude oil. \u00a0<\/span><\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Thanks to its abundant resources, Texas is also a major player in the world energy market. \u00a0Bolstered by Texas production, <\/span><span style=\"font-weight: 400\">U.S. crude oil exports have reached a record <\/span><a href=\"https:\/\/www.cnbc.com\/2018\/06\/27\/us-oil-exports-boom-to-record-level-surpassing-most-opec-nations.html\"><span style=\"font-weight: 400\">3 million barrels<\/span><\/a> <span style=\"font-weight: 400\">a day. \u00a0<\/span><span style=\"font-weight: 400\">In addition, Texas natural gas is home to seven of the 24 <\/span><a href=\"http:\/\/d3n8a8pro7vhmx.cloudfront.net\/themes\/55dc9a8f2213933dc0000001\/attachments\/original\/1520286669\/lng_whitepapers_002.pdf?1520286669\"><span style=\"font-weight: 400\">liquefied natural gas (LNG) export facilities<\/span><\/a><span style=\"font-weight: 400\"> that are planned or under construction in the United States. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Without fracking, Texas\u2019 abundant shale resources would remain untapped. This would mean less affordable electricity, fewer high-paying jobs, and less funding for our schools. It would also deprive the rest of the country and the world of a safe, secure energy supply.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Tom Steyer\u2019s anti-energy agenda is bad for San Antonio, bad for Texas, and bad for the United States. \u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><i><span style=\"font-weight: 400\">Omar Garcia is President and CEO of the <\/span><\/i><i><span style=\"font-weight: 400\">South Texas Energy &amp; Economic Roundtable (STEER).<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400\">Steve Everley is spokesman for the grassroots organization Texans for Natural Gas.<\/span><\/i><\/p>\n<p>&nbsp;<\/p>\n<p>Be sure to sign up for our FREE newsletter and follow us on <a href=\"http:\/\/www.facebook.com\/steeroundtable\">Facebook<\/a> and <a href=\"http:\/\/www.twitter.com\/steeroundtable\">Twitter<\/a> for oil &amp; gas industry information and updates.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This week, San Francisco billionaire and activist Tom Steyer held a town hall in San Antonio, part of his extreme campaign to impeach President Trump. But Steyer is better known for another fringe effort: he has spent millions of dollars bankrolling the \u201cKeep it in the Ground\u201d movement to ban oil and natural gas production. [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":1844,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"h5ap_radio_sources":[],"footnotes":""},"categories":[6,3],"tags":[35,37,38,287,32],"class_list":["post-1843","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-news-releases","tag-energy","tag-natural-gas","tag-oil","tag-steyer","tag-texas"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How Green Billionaire Tom Steyer\u2019s Policies Would Destroy the Texas Economy - South Texas Energy &amp; Economic Roundtable<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/txogamsn.txoga.org\/steer\/2018\/07\/20\/how-green-billionaire-tom-steyers-policies-would-destroy-the-texas-economy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Green Billionaire Tom Steyer\u2019s Policies Would Destroy the Texas Economy - South Texas Energy &amp; Economic Roundtable\" \/>\n<meta property=\"og:description\" content=\"This week, San Francisco billionaire and activist Tom Steyer held a town hall in San Antonio, part of his extreme campaign to impeach President Trump. 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But Steyer is better known for another fringe effort: he has spent millions of dollars bankrolling the \u201cKeep it in the Ground\u201d movement to ban oil and natural gas production. 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