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Commentary: Oil and gas can drive innovation, recovery
Todd Staples, For the Express-News
Feb. 15, 2021
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Alternative energy sources depend on Texas oil and natural gas, too, not just to provide backup but also for their very composition.Jacob Ford /Odessa American
Oil and natural gas are essential and irreplaceable to our lives, economy and environmental progress. Every Texan should be alarmed by efforts to undermine the oil and natural gas industry, as these misguided attempts will only threaten jobs, the economy and the environment.
As the Texas Legislature begins its work in earnest, we are encouraging lawmakers to consider a three-part Roadmap to Recovery policy to drive oil and natural gas investment to power Texas’ economic recovery, and provide critical state and local tax revenue Texans need.
REP. JESSICA GONZÁLEZ FILES BILL TO REPEAL EXEMPTION OF SEVERANCE TAX FOR FLARED AND VENTED GAS
by:
01/27/2021
Austin, Texas – State Representative Jessica González (D-104) filed legislation that would repeal the current exemption of severance tax for flared and vented gas that is produced in Texas, a measure that would produce more tax revenue and discourage excess pollution.
On Tuesday, January 26, 2021, Rep. González filed House Bill 1377, a bill that would repeal the flared and vented gas severance tax exemption. Currently, flared and vented gas produced in the state is exempt from being taxed at 7.5% of the market value of gas produced. Because of the exemption, Texas missed out on collecting over $120 million from flared and vented gas tax from 2012-2017.