Texas House Bill HR533

Texas 2017 - 85th Regular

Caption

Recognizing February 22, 2017, as Liquefied Natural Gas Day at the State Capitol.

Impact

The bill outlines the expected benefits of LNG exports for the Texas economy, promising billions of dollars in revenue and the creation of over 150,000 jobs by 2035. It suggests that such projects will enhance local tax revenues and stimulate new investments needed for the state's infrastructure, thereby bolstering economic stability. Furthermore, it asserts that LNG exports will contribute to U.S. global energy leadership and help stabilize natural gas pricing, potentially benefiting broader economic interests across the state.

Summary

House Resolution 533 acknowledges February 22, 2017, as Liquefied Natural Gas Day at the Texas State Capitol. The resolution emphasizes the significance of liquefied natural gas (LNG) exporters and stakeholders in the energy sector, gathering to highlight the economic and infrastructural benefits associated with LNG. This initiative aligns with Texas's broader goals for energy independence and economic growth, as the state is already seeing the construction of multiple LNG export facilities to meet increasing global demand.

Sentiment

The sentiment surrounding HR533 appears to be largely positive among its supporters, who view the legislation as a significant step toward enhancing Texas's energy infrastructure and economic status. By positioning Texas as a leader in LNG production and export, proponents argue that the state can significantly boost job opportunities and investment. Such optimism indicates a broad consensus among supporters regarding the potential for LNG to bring substantial economic advantages.

Contention

While the resolution expresses a united front in recognizing Liquefied Natural Gas Day, it may also attract some criticism from environmental groups concerned about the implications of increased fossil fuel reliance. Although the measure does not delve deeply into regulatory specifics, opponents may argue that expanding LNG facilities and exports could lead to environmental harms or undermine efforts toward renewable energy initiatives. Thus, potential points of contention could arise regarding the balance between economic growth and environmental preservation.