Comptroller Seeks To ID Companies Boycotting Oil Investmentts

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Texas Comptroller Glenn Hegar sent a letter to 19 financial companies that he alleges could be ‘boycotting the fossil fuel industry.’

Hegar is asking the companies, including JP Morgan and Wells Fargo, to clarify their fossil fuel investment policies and procedures, and has requested a list of any mutual funds or exchange-traded funds in their portfolios that may prohibit or limit investment in fossil fuels.

It’s part of Hegar’s efforts to implement Senate Bill 13, which was passed during the 87th Regular Legislative Session, and seeks to strip such companies of State funding.

(Full story HERE.)
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Governor Calls For Biden To Withdraw Nominee For Comptroller's Name

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Texas Gov. Greg Abbott is calling on President Joe Biden to “immediately” withdraw a Cornell Law professor as his nominee for Comptroller of the Currency over concerns he has about her policy positions on the banking and oil and gas industries.

Saule Omarova testified Thursday before the U.S. Senate Banking Committee.

Omarova has openly suggested that her goal to reach climate change objectives includes bankrupting small oil and gas operators.

(Full story here.)
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Abbott To UN Over Oil Criticism: "Pound Sand"

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The leader of the United Nations says Texas must end its reliance on oil and gas production to remain prosperous in the era of climate change.

At a UN summit next month, world is leaders will be asked to rapidly cut greenhouse gas emissions in half by 2030.

UN Secretary General Antonio Guterres says Texas is well-positioned to lead the way in the production of renewables.

“If Texas wants to remain prosperous in 2050 or 2070, Texas will have to diversify its economy and Texas will have to be less dependent on oil and gas,” Guterres said.

The response from Texas governor Greg Abbott was immediate and fierce. On twitter, Abbott replied:

"Texas to United Nations: Pound Sand

The world is reeling from spiraling fuel costs caused by premature over-reliance on renewable energy.

High fuel costs punish middle class families & stoke the supply chain crisis. Texas oil & gas is needed right now."

Texas is the nation’s largest producer of crude oil and natural gas. But the state is also the largest producer of wind energy in the United States.

(Full story here.)
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Gov. Abbott Signs Executive Order Protecting Energy Industry From "Federal Gov't Overreach"

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Gov. Abbott held a press conference in Odessa Friday, where he issued an Executive Order to protect Texas' energy industry from federal overreach. 

Abbott also announced his support for legislation that will prohibit cities from banning natural gas appliances.

During an energy roundtable in Odessa, Abbott and the participants also discussed enhancing workforce development in Texas, cutting costly red tape, and expanding broadband access in rural communities.

The Governor's Executive Order directs every state agency to, "use all lawful powers and tools to challenge any federal action that threatens the continued strength, vitality, and independence of the energy industry," according to a statement released by the governor's office.

Each state agency should work to identify potential litigation, notice-and-comment opportunities, and any other means of preventing federal overreach within the law. 

"The men and women who work in the energy industry produce the affordable energy that powers our lives and they are vital to the Texas economy,” said Abbott.

"Texas is a pro-energy state, and we will not sit idly by and allow the Biden administration or local governments to destroy jobs and raise energy costs for Texas families," he said.

"My Executive Order will help ensure that the Federal government cannot take away the livelihoods of Texans who work so hard to provide our state and our nation with the energy we need."

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Four Democrat Congressmen Call On Biden To Lift His Drilling Ban

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Four Texas Democratic Congressmen I have written a letter to President Biden, asking him to recind his executive order halting

federal land being leased to oil and gas companies for energy, Townhall reports.

Reps. Vincente Gonzalez, Lizzie Fletcher, Henry Cuellar, and Marc Veasey – sent the letter to Biden Wednesday, asking him to rescind the order.

"Media reports indicate that the Administration plans to announce a new proposal to ban responsible energy leasing, including oil and gas leasing, from our federal waters and lands indefinitely," the letter stated. 

"A federal ban for any period of time will certainly imperil hundreds of thousands of jobs, entire communities, and billions of dollars in royalty revenues to the Federal Treasury and eliminate funding for important conservation programs such as the Land and Water Conservation Fund (LWCF)."

Townhall says the order will result in a GDP loss of $700 billion and the federal government will lose its biggest revenue generator, the letter stated. One of the other concerns they share is America returning to dependence on foreign oil.

The four Texans also took time in their letter to stand up for our neighbor, New Mexico, which funds its school system largely from oil and gas tax revenue that goes into a reserve fund for that purpose.

"New Mexico, a small, poor state that receives a huge portion of their revenue for things like funding Albuquerque schools, will find this rule devastating," they wrote.

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