Senator Introduces Bill To Compensate Oil-States During Energy Transition

A Democratic Senator introduced a bill on Thursday designed to give states financial support to compensate for the losses oil and gas states will incur as a result of the energy transition. The funds, the new bill proposes, will provide federal support to the states that heavily rely on oil and gas revenues to fill budget gaps as oil and gas production would theoretically decline.

The act, referred to as The Schools and State Budgets Certainty Act, was proposed by Democratic Senator Martin Heinrich of New Mexico and will offer what it calls “energy…