Democrats' massive climate package is mixed bag for Texas oil and gas producers

WASHINGTON — Democrats are on the cusp of passing the most significant climate legislation in history, but the final product is a far cry from where they started.

The latest version of the so-called “budget reconciliation” package features hundreds of billions of dollars for climate and energy, including incentives to boost renewable energy production and the adoption of electric vehicles.

It includes taxes and fees that will impact oil and gas companies, but also features carrots to go with those sticks for fossil fuel producers. That’s thanks to the influence of coal champion Sen. Joe Manchin, D-W.Va., as well as some of the House moderates representing Texas and its oil and gas interests.

Rep. Lizzie Fletcher, D-Houston, was among those pushing her fellow Democrats to consider impacts on the industry but said in an interview the bill is still a significant effort to tackle climate change.

https://www.msn.com/en-us/money/markets/democrats-massive-climate-package-is-mixed-bag-for-texas-oil-and-gas-producers/ar-AA10mwOk