N@N

What Local Texans Pay to Subsidize New Gas Terminals: $4 Million Per Job

The article from Mother Jones discusses how local governments in the U.S. are offering substantial tax incentives to attract liquefied natural gas (LNG) export terminals, despite the environmental and economic drawbacks. These incentives often come in the form of tax abatements, which significantly reduce the tax burden on LNG companies, thereby shifting the cost to local taxpayers. Critics argue that these tax breaks are essentially corporate welfare, benefiting wealthy energy companies at the expense of local communities. The article highlights that these facilities not only contribute to climate change through methane emissions but also pose safety risks due to potential explosions. Furthermore, the economic benefits promised by these projects, like job creation, often fall short of expectations, with many jobs being temporary and the long-term economic impact being negligible or negative. The piece also notes the lack of transparency in how these deals are negotiated, often behind closed doors, and the influence of fossil fuel lobbyists in pushing for these tax incentives.

Read the Full Mother Jones Article at:
[ https://www.motherjones.com/politics/2024/12/local-tax-breaks-lng-natural-gas-terminals-expensive-ripoff/ ]