The legislature should stay the course on energy policy, removing unnecessary regulatory burdens and not imposing new ones.
In recent years, Texas has solidified itself as the country's number one energy producer. From crude oil and natural gas to wind and solar, Texas produces more energy than any other state. Despite this impressive performance, Texas continues to face challenges in keeping up with demand. While inclement weather events are often blamed for these issues, a more prevalent factor fueling Texas’ thirst for energy is its continual population growth.
According to the Census Bureau, Texas has seen a population increase of 43% over the last 20 years. That is an additional nine million residents from 2000 to 2022. This compound annual population increase of 1.6% has seen a commensurate annual increase in power consumption of 1.7%, over the last two decades.
Alongside this population increase, Texas has become a hotspot for investment. As of 2023, fifty-five Fortune 500 companies have established their headquarters in Texas, more than any other state in the union. While this investment is great for the state’s economy, these business ventures require considerable energy to power: offices, warehouses, and manufacturing.
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