Texas’s Oil and Gas Industry Is Defending Its Billions in Subsidies Against a Green Energy Push
On a spring morning more than three decades ago, Don Henderson took the microphone in a hearing room at the Texas Capitol and urged his fellow state senators to give the oil patch some more love. The Houston Republican, a lawyer closely allied with the fossil-fuel industry, had introduced a bill to slash the tax on natural gas wells deemed particularly tough to develop. “They can be huuuuuuge wells,” he told the finance committee. If these wells were so alluring, why did taxpayers need to offer Texas drillers a handout? Because, Henderson explained, the wells were “expensive and chancy.” So much for the image of risk-taking and self-sufficiency that the state’s oil and gas industry liked to tout. The federal government had long given producers…View Original Post
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Source: Texas Monthly