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Committee recommends do-not-pass on resolution proposing state oil and gas association
Summary
The Senate Energy and Natural Resources Committee recommended a do-not-pass on Senate Concurrent Resolution 4026, which proposed forming a state oil-and-gas association to develop the state's energy industry.
Committee chairmen and members discussed Senate Concurrent Resolution 4026, a proposal to set up a state oil and gas association purportedly to develop the state's energy industry. Members said testimony opposing the resolution had been compelling and emphasized that the state already has investment options through the State Investment Board and other vehicles that allow the state to be an investor rather than an operator.
Senator Inghitt (name in transcript as Inghitt/Inger variant) and others warned about the complexity and risks of government ownership or direct operation in the energy sector, citing cyclical commodity risks and lack of state expertise to run upstream, midstream and downstream operations. Senator Caswell moved a do-not-pass recommendation. The motion was seconded and the roll call recorded 6 ayes, 0 nays and 1 absent; the motion passed.
Ending: The committee adopted a do-not-pass recommendation on SCR 4026; Senator Inghitt was recorded as the floor carrier for the committee position.
