No Subsidies Needed
What to Know: A $350 million expansion project by Moda Midstream in San Patricio County will add capacity for holding 10 million barrels of crude oil. The project went forward despite county officials denying it taxpayer subsidies.
The TPPF Take: County commissioners pointed out that in return for the massive tax breaks they were asked for, Moda would have provided just 12 jobs.
âPolicymakers, energy market participants, and voters must wake up to the fact that energy subsidies only serve to distort energy markets and create businesses that rely on government support,â says TPPFâs Brent Bennett. âIf a project makes financial sense for a companyâwithout taxpayer money thrown inâit will move forward, as Modaâs project did. Texas will continue to attract jobs and economic growth with low taxes and regulations, not with subsidies to politically-connected companies.â