Business Report: Economic boost from total solar eclipse; push for protecting Texas LNG exports

LUBBOCK, Texas (KCBD) -In January, the Biden Administration temporarily banned liquefied natural gas export permits. Texas Speaker of the House Dade Phelan announced on Monday the creation of a select committee to examine the extensive impacts to Texas The five-member House Select Committee on Protecting Texas LNG Exports is tasked with assessing the potential economic, environmental and social impacts on the state; identifying strategies to mitigate negative consequences on the LNG industry, the state’s energy sector and Texas economy; and making recommendations to address the challenges posed by a federal suspension. “Texas is one of America’s top exporters of liquified natural gas, supplying affordable, reliable energy to our nation and our allies around the globe while providing good-paying jobs for hardworking Texans,” Phelan said. “President Biden’s abrupt decision earlier this year to pause pending approvals of LNG export projects will likely have significant economic implications for Texas, and it is important we fully understand what a prolonged pause would mean for our state’s thriving energy sector. With the oil and gas industry supporting hundreds of thousands of jobs statewide and serving as a key driver of community investments—including in the Southeast Texas House District I represent—we cannot idly stand by and let the federal government attempt to undermine this critical industry.”

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Source Link: https://www.kcbd.com/2024/03/26/business-report-economic-boost-total-solar-eclipse-push-protecting-texas-lng-exports/