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R E S O L U T I O N
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WHEREAS, Representatives of liquefied natural gas projects, |
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exploration and production companies, state business trade groups, |
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pipeline companies, government, and other stakeholders are |
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gathering in Austin on February 25, 2015, to highlight the benefits |
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of liquefied natural gas (LNG) exports; and |
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WHEREAS, Pioneering exploration and extraction methods have |
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opened vast natural gas resources to development, and demand on |
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U.S. natural gas markets can now grow with little impact on domestic |
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prices; plentiful supplies and unprecedented advances in |
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technology also present a historic opportunity for the United |
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States to achieve energy self-sufficiency while creating jobs and |
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wealth; and |
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WHEREAS, Global demand for LNG is expected to climb |
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significantly over the next two decades; the U.S. Department of |
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Energy estimates that, by 2035, natural gas production levels will |
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be 55 percent higher than was estimated only four years ago; this |
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trend can satisfy all domestic demand while also allowing the |
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nation to export natural gas; and |
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WHEREAS, According to recent studies, the expansion of LNG |
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markets will generate as much as $86 billion in net benefits to the |
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U.S. economy and will help reduce the U.S. trade deficit by as much |
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as $60 billion by 2038; moreover, increases in LNG exports could |
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create more than 450,000 American jobs, including tens of thousands |
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of jobs in construction and operations; every two billion cubic |
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feet per day of exports supports 50,000 jobs in the exploration and |
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production sectors; and |
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WHEREAS, In Texas, proposed construction and operation of |
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multiple LNG export facilities along the Gulf Coast will |
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incentivize new direct infrastructure investments worth billions |
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of dollars, will contribute royalties and local tax revenues to |
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communities across the state, and could create up to 155,000 jobs in |
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the state; and |
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WHEREAS, LNG exports will contribute to the nation's global |
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energy leadership and to other vital goals, among them stability in |
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natural gas pricing, increased business investment, job growth, and |
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higher revenues for communities in natural-gas-producing areas; |
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now, therefore, be it |
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RESOLVED, That the House of Representatives of the 84th Texas |
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Legislature hereby recognize February 25, 2015, as Liquefied |
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Natural Gas (LNG) Day at the State Capitol and extend to all those |
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participating in this event sincere best wishes for an enjoyable |
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and educational visit to Austin. |