Governor Greg Abbott defended the nation’s energy industry in a letter to President Joe Biden that denounces the Biden Administration's efforts to force environmental, social, and corporate governance (ESG) standards upon America’s investment funds. In the letter, the Governor points out that ESG requirements would directly threaten millions of American energy jobs—many of which are based in Texas—compromise American energy security, and further a trend of federal attempts to undermine the nation's energy industry.
“Over the past two years, you have tried to stifle the American energy sector with your ESG fanaticism, your overly aggressive Environmental Protection Agency, and your favoritism of foreign oil over homegrown energy,” reads the letter. “As the Governor of Texas, I see firsthand the problems your policies have created for hard-working Americans looking for an opportunity to succeed. By pushing this radical ESG agenda, you are risking the lifelong savings of millions, for political points. I will continue to stand up for my constituents who rely upon the good-paying jobs of our energy industry. Anyone who puts their livelihood at risk will have a fight on their hands down in Texas.”
As the energy capital of the world, Texas has led efforts to defend this critical industry against the Biden Administration’s destructive energy policies. The Governor signed Senate Bill 13 last session that prohibits state contracts and investments with companies that boycott energy companies. In January 2021, Governor Abbott issued an executive order directing all state agencies to use all lawful powers and tools to challenge any federal action that jeopardizes the continued vitality and independence of the energy industry.
In his letter to President Biden, Governor Abbott asserts that Texas will expand anti-ESG efforts even further with legislation this session to protect the energy industry from insurance companies attempting to placate ESG advocates.