Here’s the latest fact banks don’t want you to know: Fracked gas exports are worse for the climate than coal.
But big banks are getting ready to bankroll three major fracked gas terminals planned for the Rio Grande Valley in Texas.
Liquified natural gas (LNG) has been called a “bridge fuel” to clean energy, but the truth is it’s a bridge to nowhere. It’s not clean. It’s not safe. It’s terrible for the climate. And it would be a disaster for local communities.
LNG is mostly a “fracked” gas — meaning it’s just another fossil fuel extracted by dangerous and dirty methods. It’s yet another dirty energy distraction from focusing on renewable and truly clean energy sources.
The fracking boom has left the gas industry with a massive oversupply. In search of new markets, fossil fuel corporations are building fracked gas terminals to export LNG overseas. LNG must be compressed and piped to the coast, then purified and frozen into a liquid at a fracked gas terminal. Each of the terminals connects to a maze of pipelines that are fed from fracking sites.
The climate impacts of the gas from these three proposed terminals alone could equate to the annual emissions of 63 coal power plants. These fracked gas terminals would emit thousands of tons of harmful pollutants into the air and pollute waterways in the Rio Grande Valley.
The Rio Grande Valley is home to thriving fishing and shrimping industries, ecotourism, and endangered wildlife — all of which rely on a healthy coastal environment and stand to be ruined by the proposed fracked gas terminals.
These terminals would add thousands of tons of air pollution, endangering the health of nearby communities already facing serious disparities, including Brownsville, which is 93% Latino and one of the poorest cities in the country.
Solar power already employs over 100,000 people in Texas and could serve to offer cleaner jobs than fracked gas terminals in the Rio Grande Valley — jobs that won’t devastate the region’s coastline, impact a thriving tourism industry, or ruin the climate.
The Rio Grande Valley shouldn’t be sacrificed for fracked gas terminals. These terminals are a bad investment for our communities and our climate.