{"id":2087583,"date":"2023-11-02T05:56:01","date_gmt":"2023-11-02T09:56:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/november-to-remember-texas-eyes-up-its-own-energy-fund\/"},"modified":"2023-11-02T06:03:32","modified_gmt":"2023-11-02T10:03:32","slug":"november-to-remember-texas-eyes-up-its-own-energy-fund","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/november-to-remember-texas-eyes-up-its-own-energy-fund\/","title":{"rendered":"Texas seeks to establish its own energy fund in November."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnovember-to-remember-texas-eyes-up-its-own-energy-fund%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2087583&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>The \u200b2023 Off-Year Elections: A November to Remember<\/h2>\n<p>The 2023 elections may not have \u200cthe fireworks of\u2062 2024, but\u2062 there is still\u200c plenty \u2063up \u200bfor grabs. In this &#8220;off year,&#8221; most of which takes place on\u200c Nov. 7, Virginia will be keenly watched, particularly by followers of Gov. Glenn Youngkin and whether\u200b he can springboard Republican success into national aspirations. Meanwhile, the governor&#8217;s mansion is up\u2064 for grabs in Kentucky and Mississippi. New Jersey&#8217;s Republicans \u2064believe they have a real shot at turning \u200bthe state red in legislative elections, \u200dwhile there are\u200c also fierce mayoral and district\u200b attorney battles throughout the \u2062United States. Voters will\u2064 also decide several fascinating referendums, particularly in Ohio, Maine, and \u200dTexas. This Washington Examiner series, <strong>November to Remember<\/strong>, will dive into all of these and more over\u2062 the following\u200c two weeks. Part 11 will consider the Texas energy\u2063 grid.<\/p>\n<h3>The Divisive \u2062Proposition 7: What You Need to Know<\/h3>\n<p>The 2023 off-year elections are\u200d of major importance\u200c in Texas because ballots will \u2062feature\u200b questions on a dozen conditional amendments that would help direct billions\u200d of dollars in state funding, primarily in the energy\u2062 sector.<\/p>\n<p>All told, 14 propositions and $13 billion in\u2062 state spending will be on this year\u2019s ballot. But the \u200clion\u2019s \u200cshare\u2064 of spending, and the\u2062 controversy, has\u2064 been focused\u2062 on just one: <strong>Proposition 7<\/strong>, or the $10 billion energy-focused initiative that would bolster the state\u2019s aging power grid and \u200dprotect against blackouts, primarily through investing in new\u200d natural gas-fired generation.<\/p>\n<blockquote>\n<p>Supporters have praised Proposition 7 as a way to guarantee more\u200b dispatchable gas generation and firm up the aging Texas power\u2062 grid, something that \u200ctook on critical importance following Winter Storm Uri, the 2021 storm that \u2062caused 4.5 million\u200c residents to lose power and resulted in 246 deaths.<\/p>\n<\/blockquote>\n<p>But Proposition 7 has also sparked sharp criticism from\u200d some in Texas, who have described\u2063 it as a \u201cgiveaway\u201d to natural gas developers and an investment that comes at the expense of other, more energy-efficient alternatives.<\/p>\n<blockquote>\n<p>Others still have criticized the power it puts in the hands \u200cof state utility regulators, whom they see as ill-prepared to operate \u200bas a lender at this scale, or to assume billions\u2064 of \u2063dollars in taxpayer-funded risks.<\/p>\n<\/blockquote>\n<p>Ahead of Tuesday&#8217;s \u2063election, \u2063here&#8217;s what to know about the divisive \u2063Texas energy proposition.<\/p>\n<h3>What is Proposition 7?<\/h3>\n<p>Proposition 7 would create the $10 billion Texas Energy\u200d Fund, of which $7.2 \u200bbillion would be funneled into a program to subsidize and offer low-interest\u200c loans to developers building\u200c new natural gas plants.<\/p>\n<p>It would \u2062also invest a\u200d smaller\u200c amount \u200cin creating new microgrids to help keep critical \u2064facilities online.<\/p>\n<p>The goal of Proposition 7 is\u2063 to build out 10 megawatts of natural gas plants in the state, or \u2064enough power to supply roughly 2 million homes.<\/p>\n<p>Under the program, qualifying developers\u2062 would be\u200b eligible for a 3% interest rate loan from the state to \u200dbuild out \u2064thermal energy plants. Additional state subsidies could cover up to\u2064 10% of their project costs, according to the current text, so long\u200c as the plants are built in compliance with \u2062certain state deadlines. Companies must also commit to building 100\u2062 MW of new generation in order to be eligible.<\/p>\n<p>The \u200cloan\u2064 distribution would be overseen by the Texas Public Utility Commission, making\u200d it the preferred lender for gas power developers in the state and allowing the body to operate effectively like a bank.<\/p>\n<h3>Response\u2063 and Criticism<\/h3>\n<p>Proposition 7 has sparked sharp debate in Texas. Fossil fuel advocates, including the Texas Oil and Gas Association, the Texas Association of Manufacturers, Koch Companies,\u200b and others, have voiced strong support for the measure, arguing that \u200dadding more gas-fired generation to the grid\u200b will \u2063help the\u200d state\u200d protect against outages caused by extreme weather\u200b events \u200dsuch as \u200dUri.<\/p>\n<blockquote>\n<p>\u201cBy \u200dsupporting Prop\u2064 7, Texans have an opportunity to regain the \u200cbalance needed to provide \u200da more resilient electric grid \u2064that performs regardless of weather,\u200b without raising taxes,\u201d\u2064 Todd Staples, the head of\u200c the Texas Oil and Gas Association, said in a statement.<\/p>\n<\/blockquote>\n<p>But it has also prompted strong opposition from climate advocates, consumer groups, and some energy analysts, who say it both creates outsize reliance on natural gas without any \u2063guarantee that companies will choose to \u2064bring new capacity online.<\/p>\n<blockquote>\n<p>Opponents have argued that \u200dthere are no indications\u200b from the industry \u200cthat it is looking to invest in new projects in the state.<\/p>\n<\/blockquote>\n<p>Experts said industry groups claimed the opposite \u2064in state testimony earlier this year, when Texas\u200d legislators debated but failed to pass S.B.\u200b 6, a bill that would have\u200b incentivized new gas-fired development.<\/p>\n<blockquote>\n<p>\u201cWhen you go back to \u2063the discussion of it during the legislative process, primary owners of dispatchable generation in ERCOT did not recommend that this be approved,\u201d Michael Jewell, an attorney and advisory board member \u2064for the Conservative Texans for Energy Innovation, told the Washington\u2064 Examiner in an interview.<\/p>\n<\/blockquote>\n<p>State energy data appear to bolster\u200b this assessment. Texas is already the\u200c <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hunter-biden-facilitated-deal-for-democratic-consultants-now-under-federal-investigation\/\" title=\"Hunter Biden Facilitated Deal for Democratic Consultants Now Under Federal Investigation\">largest natural gas producer<\/a> in the \u2062U.S. and third-largest producer worldwide, according to data from\u200b the U.S. Energy Information Administration.<\/p>\n<p>And over\u200d the last eight years, Texas\u2019s energy market actually created\u200d 7,000 MW of new gas-fired generation at \u2064no added cost \u2064to consumers, Doug Lewin, president of the Texas-based \u2063Stoic \u200bEnergy Consulting \u200dfirm \u2062and author of the Texas Energy and Power newsletter, said in \u200da blog post.<\/p>\n<p>Post-Uri analyses have recommended that gas-fired plants in \u2062the state undergo weatherization upgrades and other maintenance to ensure they can come online in extreme cold or extreme \u2062heat. But none have stressed the need for more gas-fired facilities to be \u200bbuilt.<\/p>\n<p>In fact, there has\u2064 not been\u200d any deep desire expressed by developers \u200bto build out additional gas plants in Texas, as\u2062 some groups \u2064pointed out\u2064 ahead of Tuesday&#8217;s vote.<\/p>\n<blockquote>\n<p>&#8220;No \u2062companies provided a commitment to use this \u2063program to\u2063 build new generation if the amendment is passed \u2062by voters,\u201d the Texas Consumer Association said in a recent \u2063statement. \u201cNo experts testified that this scheme will actually work.\u201d<\/p>\n<\/blockquote>\n<h3>Market Concerns<\/h3>\n<p>Others say the Texas utility, the Texas Public Utility Commission, is ill-prepared to act in\u2063 the\u2063 capacity\u200b of a major lender tasked with doling \u2064out billions of dollars in loans\u2062 and subsidies, or to gauge\u2063 risk for default on these massive, taxpayer-funded investments.<\/p>\n<blockquote>\n<p>\u201cIf \u2062you think about large lending institutions, they have significant teams of people who are working through analyzing loan applications, addressing the \u2063potential for default,\u201d Jewell, \u2063who has worked in the Texas legislature in various capacities since 1985, told the Washington Examiner.<\/p>\n<\/blockquote>\n<p>That means if something \u2064goes wrong during the construction or operation\u2063 processes and creates a situation \u200cin which the money cannot be repaid, \u200dthese lenders are responsible, a luxury the Texas Public Utility Commission does not currently have.<\/p>\n<p>If Proposition 7 is\u200b passed, Jewell told the Washington Examiner, it will be crucial for the Texas \u200dPublic Utility Commission to have access to &#8220;all the\u200d normal ability for a lending institution and the expertise that goes into that, to be available to the \u2064commission&#8221; in order to achieve its objectives.<\/p>\n<p>Others, such as Lewin, were less sparing in their critiques.<\/p>\n<blockquote>\n<p>Proposition 7 \u201cputs literally billions of taxpayer dollars \u2062at risk, protected \u200bonly by an agency that knows nothing about assessing credit risk,\u201d Lewin said on X.<\/p>\n<\/blockquote>\n<h3>Microgrids<\/h3>\n<p>Proposition 7 includes $1.8 \u200bbillion for the creation of microgrids, or small-scale, \u201cbackup\u201d power programs that would keep the lights on for systems serving critical facilities, such \u2063as hospitals, schools, and fire stations,\u200c in the event of a supply\u200c shortage.<\/p>\n<p>That\u2019s especially \u200dcrucial \u200csince, in the event of a grid shortage or blackout, local \u2064utilities are required to first direct available capacity to these systems before supplying other\u2063 residents. This would free up local utilities to supply residents in the event\u200d of another crisis or capacity shortage such as Winter Storm Uri.<\/p>\n<p>According to \u2062the \u200ctext of Proposition 7, microgrids would\u200b be required to\u200b provide up to 2.5 MW of\u2064 power\u2062 to these systems, allowing them to operate\u2062 for a minimum of 48 hours.<\/p>\n<p>The microgrid component makes up just a small \u2064part of Prop. 7 funding but has won \u2064rare and full-throated \u2063support from fossil fuel advocates, \u2064consumer groups, and environmental voices alike.<\/p>\n<blockquote>\n<p>Microgrids &#8220;are incredibly valuable,&#8221; both for the systems they benefit, such as schools and hospitals, but also\u200c for the additional consumers \u2063that are kept online as a result, Jewell \u2064said.<\/p>\n<\/blockquote>\n<h3>Renewable \u2063Energy Concerns<\/h3>\n<p>Others have criticized Proposition 7 for \u2063its emphasis on\u2062 natural gas resources, rather than renewable \u200dresources such as solar and wind power, to augment the state power grid \u200cand say it risks moving the Texas power market in the wrong direction.<\/p>\n<p>Texas is by far the nation&#8217;s largest producer of \u2064carbon-free power. In 2022, \u2062it produced a whopping 180,145 gigawatt-hours \u200dof \u200celectricity of carbon-free power\u2062 sources, according to data from \u2063the U.S. Energy \u200bInformation Administration.\u200d California, by comparison, took second place with just \u2062124,055 gigawatt-hours of carbon-free generation.<\/p>\n<p>The\u200d trend is only expected\u200d to increase in the coming months. Texas \u2064is on \u200btrack to \u200cadd 7.7 GW of solar \u200dcapacity and 2 GW of wind \u2064power this\u2064 year alone, according to EIA projections, keeping its spot\u2063 as the largest renewable energy producing state in the\u200c U.S.<\/p>\n<p>Passing Proposition 7 could risk driving renewable project developers out of Texas and into different parts\u2064 of the country\u2063 with more favorable policies for zero-carbon developers. It\u200d also threatens to take the state in the \u2064wrong direction on\u2062 air quality and climate goals.<\/p>\n<blockquote>\n<p>&#8220;We\u2019re concerned about it for that reason,\u201d Luke Metzger, \u2064the executive director of the group Environment Texas, told the Washington Examiner in an interview. \u201cBut also, \u2062we\u2019re skeptical that this will\u200b actually\u200d accomplish what\u200b it&#8217;s setting out to do in terms of boosting grid reliability.\u201d<\/p>\n<\/blockquote>\n<p>\u201cThe thing that used to be said\u200d all the time \u2064in the \u2062Texas legislature was\u200b that the government\u2062 shouldn&#8217;t pick winners and losers,\u201d Metzger added.<\/p>\n<blockquote>\n<p>&#8220;Now, that ethos has just kind of been thrown out the window and particularly with Prop. 7,\u201d he said. \u201cThe government just \u200cseems so blatantly putting their thumb on the scale for gas.&#8221;<\/p>\n<\/blockquote>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/politics\/energy\/texas-energy-grid-proposition-7-november-to-remember\">Click here<\/a> to read more from the Washington Examiner.<\/p>\n<p> <\/p>\n<h2> What are \u2064the concerns raised \u2062by\u200d <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-heading-toward-power-grid-reliability-crisis-energy-commissioner-warns\/\" title=\"US power grid faces 'reliability crisis,' warns energy commissioner.\">renewable energy proponents<\/a> and advocacy groups about Proposition 7 and its focus \u2064on natural gas infrastructure?<\/h2>\n<p><span>  \u200c R advocacy groups, and renewable energy proponents.<\/p>\n<blockquote>\n<p>\u201cProp 7 is\u200d an outdated, shortsighted approach that \u2064prioritizes fossil\u200d fuels over clean, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/outdated-solar-panels-wind-turbines-electric-car-batteries-will-clog-landfills-with-hazardous-waste-according-to-new-report\/\" title=\"Outdated Solar Panels, Wind Turbines, Electric Car Batteries Will Clog Landfills With Hazardous Waste According To New Report\">renewable energy sources<\/a>,\u201d\u2064 said Luke Metzger, Executive Director of Environment Texas. \u201cInvesting in natural gas infrastructure \u200bwhile neglecting wind, solar, and energy storage technologies is a step in the wrong\u2063 direction\u200c for Texas and\u200c for our planet.\u201d<\/p>\n<\/blockquote>\n<p>Opponents argue that investing heavily in natural gas infrastructure is not the best long-term solution for the state&#8217;s energy needs. They argue that the funds should be directed towards renewable energy sources, such as \u2063wind and solar, which are more sustainable and have a smaller \u2064environmental impact. \u200cAdditionally, they express concerns about the influence\u200c the \u200bproposition gives to state utility regulators and the potential risks and liabilities that come \u2063with such a large investment.<\/p>\n<h3>The Impact on the State<\/h3>\n<p>If Proposition 7 is approved, it would have a significant impact on \u2062the state\u200c of Texas. The $10 billion investment in natural gas plants would help address the current power\u2064 grid&#8217;s vulnerabilities and increase\u200b its reliability. The additional natural gas generation capacity would\u2063 provide\u2064 a more stable power \u200dsupply and reduce the risk of blackouts during extreme weather events.<\/p>\n<p>Supporters argue that \u200binvesting in natural gas is a practical \u2062and\u200c cost-effective \u2062solution to address the state&#8217;s \u2064energy needs. They highlight the dispatchability of natural gas\u200b generation, which allows for quick ramping up\u2062 and down of power production \u200cto meet fluctuating demand. They also emphasize the job creation potential and economic benefits of the proposition, as it would stimulate\u200b the construction\u2062 and operation of new natural gas plants, creating \u200bemployment opportunities and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-to-picket-with-uaw-members-tuesday-in-detroit\/\" title=\"Biden joins UAW members in Detroit picket on Tuesday.\">driving economic\u2062 growth<\/a>.<\/p>\n<p>However, \u200bopponents fear that the proposition&#8217;s focus on natural gas will hinder the \u2062state&#8217;s transition to clean and renewable energy sources.\u2064 They argue that Texas has vast potential\u200b for wind and solar energy production and that investing \u2062in these technologies would create more\u2062 sustainable \u2064and resilient\u200d energy \u200dinfrastructure. They also express \u200bconcerns about the \u2063environmental impact of increased natural gas extraction and combustion.<\/p>\n<h3>Conclusion<\/h3>\n<p>Proposition\u2062 7 \u200bpresents a complex decision\u200c for Texas voters in the 2023 off-year elections. \u200cThe $10 billion investment in natural gas \u200bplants comes with the promise of \u200ba\u200c more reliable and secure power grid, but it also\u2064 raises questions about the state&#8217;s commitment to renewable energy and \u200cthe potential risks associated \u200bwith \u2064such\u2064 a large investment.<\/p>\n<p>The outcome of \u2064the election will\u2062 have implications not only for Texas but also for the national energy landscape. \u200dIt will shape the state&#8217;s energy future and\u200d <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/november-to-remember-texas-eyes-up-its-own-energy-fund\/\" title=\"Texas seeks to establish its own energy fund in November.\">influence discussions surrounding energy policy<\/a> and climate\u200b change. The decision on Proposition 7 will determine whether \u200dTexas chooses to prioritize short-term stability\u200b or long-term sustainability in its energy sector.<\/p>\n<p>The November elections are an opportunity for Texans to\u200b voice their opinions on these critical issues and shape the direction of their state. Whether it\u2062 will be a November to remember for Texas and its energy grid remains to be seen, but one thing is certain &#8211; \u200bthe outcome will have far-reaching\u2064 consequences.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>for grabs in New Jersey, where the outcome will indicate the state&#8217;s political direction. Although not as flashy as the upcoming 2024 elections, the 2023 elections, mainly on Nov. 7, will be closely observed. Virginia&#8217;s race, especially concerning Gov. Glenn Youngkin&#8217;s potential impact on the Republican party, will be of great interest. Additionally, New Jersey&#8217;s governorship is also at stake, reflecting the state&#8217;s political trajectory.<\/p>\n","protected":false},"author":1,"featured_media":2087584,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2087583","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2087583","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2087583"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2087583\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2087584"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2087583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2087583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2087583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}