Governor Abbott and Senator Cornyn Release Joint Statement
AUSTIN – During last night’s Presidential debate, Former Vice President Joe Biden made clear his plans to destroy Texas’ economy, kill jobs, and defund education and transportation in Texas by transitioning America away from oil. This plan would take billions of dollars away from Texas schools and universities and would eliminate nearly 430,000 jobs. Governor Greg Abbott and Senator John Cornyn released the following statement condemning the former Vice President’s radical plan.
“When Joe Biden says he would transition America away from oil, what he really means is that he would transition hundreds of thousands of Texans away from their paycheck and deny Texas students access to a quality education both in Texas public schools and in our state universities. Biden’s call to outlaw oil is a gift to his far-left base and liberal donors that comes at the expense of the nearly 430,000 Texans who work in the oil and gas industry and the millions of Texas students who would suffer under this radical plan. The Biden plan would effectively defund Texas schools and universities by billions of dollars, hurting Texas students, parents, and teachers and setting our education system back for generations. It would devastate the state budget and derail critical transportation and infrastructure projects on which Texans depend. And by preventing access to our most affordable and abundant energy source, Joe Biden would plunge countless Texans into poverty. Biden’s plan is a direct attack on the people of Texas, and it is vital that Texans take a stand against this radical agenda by voting to re-elect President Trump and Republicans up and down the ballot.”
Texas Oil And Gas Facts
• If Texas were its own country, it would be the fourth largest oil producer in the world. (Source: Texas Oil and Gas Association)
• In FY2019, the Texas oil and gas industry directly supported 428,234 jobs. (Source: Texas Oil and Gas Association)
• In 2019, Texas oil and natural gas employers payed an average of $125,248 per job which is more than double other private sector jobs. (Source: Texas Oil and Gas Association)
• In 2019, Texas public schools received $2.65 billion in funding from the oil and gas industry. This included $1.11 billion to the Permanent School Fund and $1.54 billion in property taxes. (Source: Texas Oil and Gas Association)
• In 2019, the Permanent University Fund received $1.02 billion from the oil and gas industry. (Source: Texas Oil and Gas Association)
• If oil production were eliminated, education and transportation would lose $9.64 billion in funding per biennium from the severance tax and the motor fuels tax. (Source: Texas Comptroller’s Office)
• If oil production were eliminated, higher education in Texas would lose $1.6-$2 billion in funding per biennium. (Source: Texas Comptroller’s Office)