Texas Senate Bill SR270

Texas 2015 - 84th Regular

Caption

Recognizing February 25, 2015, as Liquefied Natural Gas Day.

Impact

The economic implications outlined in SR270 suggest that expanding LNG exports could yield substantial benefits for the U.S. economy, including projections of $86 billion in net economic advantages. The resolution anticipates that by 2035, natural gas production could exceed previous estimates by 55%, facilitating a balance that satisfies domestic needs while supporting exports. Notably, the proposed facilities along the Texas Gulf Coast are expected to not only amplify local infrastructure investments but also account for the creation of approximately 155,000 Texas jobs, significantly bolstering the state's economy.

Summary

Senate Resolution 270 aims to recognize February 25, 2015, as Liquefied Natural Gas Day at the Texas State Capitol. This resolution comes in light of an event where various stakeholders, including representatives from liquefied natural gas (LNG) projects, exploration companies, and trade groups, gathered to discuss the significant benefits associated with LNG exports. The resolution highlights the pivotal role of advanced extraction technologies and abundant natural gas resources, underscoring the nation's potential for energy independence while aiding global market competitiveness.

Contention

While the resolution is largely favorable towards LNG, points of contention may arise from environmental considerations and the long-term sustainability of such energy projects. Critics of aggressive LNG exports often express concerns regarding potential ecological impacts and the reliance on fossil fuels in the context of climate change. The balance between economic growth through job creation and infrastructure investment versus ecological stewardship may form the basis for future debates surrounding the implementation of LNG-related policies in Texas.