20-Year Texas Oil Subsidy Quietly Dies as Legislative Session Ends

20-Year Texas Oil Subsidy Quietly Dies as Legislative Session Ends

A 20-year-old tax break for oil and gas companies in Texas quietly met its end last Thursday. In the previous two decades, a provision of the Texas code known as “Chapter 313” has provided $10 billion in property tax relief to corporations in Texas, primarily petrochemical firms.

Why This Matters: Texas has long been a “safe space” for the oil industry. Experts say that the fact that the program quietly died is a sign of changing attitudes around fossil fuels and climate change.

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