Can You Spell Scam?
What to know: A top candidate to lead Texas A&M’s business school says he wants to bring woke “environmental, social and governance” (ESG) principles to the department.
The TPPF take: ESG is a scam—and in direct conflict with the free market principles that have made the U.S. successful.
“The ESG movement typically targets industries deemed politically incorrect, including fossil fuel exploration and production, as well as firearm manufacturing and selling,” says TPPF’s Greg Sindelar. “ESG policies can also lead to criminal collusion between investment firms—which are supposed to be competitors.”
For more on ESG principles, click here.
Start the Spending
What to know: Texas lawmakers have set a spending limit for the budget they’ll adopt in the upcoming legislative session. But nothing is stopping them from spending less.
The TPPF take: Although lawmakers set a spending growth limit of 12.33%, they don’t have to spend that much.
“The LBB’s spending limit is a ceiling, not a floor,” says TPPF’s James Quintero. “There’s nothing preventing policymakers from spending less than what the limit provides. And the less they spend on growing government, the more that will be available for massive property tax relief.”
For more on the state budget, click here.
Fix the Grid
What to know: The Texas Senate Business and Commerce Committee issued a statement expressing deep concern with the reforms to the Texas electric market being proposed by the Public Utility Commission and suggesting that additional legislation may be needed to guide their actions.
The TPPF take: Subsidizing dispatchable power to chase wind and solar subsidies, which California is already doing and the PUC is proposing, will send electricity rates skyrocketing. Reforms must counter the distorting effects of federal subsidies that are pushing more wind and solar into the market than it can handle.
“We’re seeing lots of headlines blaming gas and coal for grid issues, but even with a few recent plant outages, fossil fuels still produce well over 90% of their rated capacity — no matter the weather,” says state Rep. Jared Patterson, writing for The Cannon Online. “But well-funded lobbyists and big corporations have largely succeeded at pushing the narrative that wind and solar are just as reliable — when the truth is just the opposite.”
For more on the Texas grid, click here.