Texas Senate Bill SR190

Texas 2021 - 87th Regular

Caption

Recognizing March 24, 2021, as Texas Oil and Gas Association and Virtual Texas Energy Day.

Impact

The resolution highlights the financial benefits that the oil and gas industry brings to the state, including significant funding for various public funds like the Economic Stabilization Fund and educational resources. In 2020 alone, Texas schools received over $2 billion stemming from property taxes associated with oil and gas industry holdings. This financial support is crucial for maintaining and enhancing the quality of education and other public services throughout Texas.

Summary

Senate Resolution No. 190 honors the Texas Oil and Gas Association and acknowledges March 24, 2021, as Virtual Texas Energy Day in the state. The Senate emphasizes the vital contributions of the oil and gas sector to Texas, which leads the nation in production and refining. This resolution underlines the significance of the industry in creating over one million jobs, fortifying energy security, and driving economic growth, asserting that it plays a fundamental role in the state's robust economy.

Contention

While the resolution is largely celebratory, it also subtly addresses ongoing discussions about the environmental impact of fossil fuels. The document mentions that the industry is a leading investor in emissions reduction technologies, indicating an awareness of corporate responsibility. Such acknowledgments may reflect a balancing act between the economic benefits derived from oil and gas and the necessity of sustainable practices, thereby responding to environmental concerns regarding climate change and emissions.