The free market is in jeopardy. Big banks and investment firms are discriminating against responsible energy producers — and worst of all, this is happening right here in Texas. If the Lone Star State is going to remain a beacon of liberty and prosperity for the nation, legislators must act now to stop energy discrimination by passing House Bill 2189 and Senate Bill 13.
As a Professional Engineer in the energy industry, I have seen how the virtue signaling pressure campaigns from firms like BlackRock have changed capital availability. Banks are less likely to loan money for fossil fuel development. Projects require much more scrutiny to see if they meet “Environmental, Social, and Governance” (ESG) investing requirements before getting access to critical funding. This is pushing energy development overseas where environmental laws are less rigorous.
The green movement in the United States isn’t helping the environment. It’s actually forcing countries that need power to import energy from environmentally irresponsible countries, thus leading to more pollution.
Meanwhile, the American energy industry is doing everything we can to support America’s global environmental leadership while providing reliable, cheap power. We have reduced harmful air pollution by 77% in the last 50 years — and, for those concerned about climate change, cut CO2 emissions by 18% in the last 10 years through natural gas use.
This power doesn’t just feed homes and businesses. It is the geopolitical, economic catalyst by which we help developing countries fight poverty, bring their citizens out of the dark, and improve their lives. We have over 3 billion world citizens still looking to have power in their homes so they can stop burning wood and dung to cook their food.
The Texas energy industry doesn’t just fuel the US. It fuels the world. These bills will allow energy workers to do what we do best and provide cheap, reliable power sorely needed by the world.