September 24, 2020
AUSTIN – Today, U.S. Senator Ted Cruz, Texas Land Commissioner George P. Bush, Corpus Christi Regional Economic Development Corporation President and CEO Iain Vasey and RGV Partnership President and CEO Sergio Contreras headlined the Texas Oil & Gas Association’s (TXOGA) latest virtual energy summit, Powering Your Community – Southern Gulf Coast. The event was part of a new series of virtual summits TXOGA is hosting around the state during the months of September and October.
Moderated by TXOGA President Todd Staples, the summit focused on the oil and natural gas industry’s role in our national energy security, the economic impact of the industry and the industry’s economic ripple effect for communities across the region.
“There is an energy renaissance occurring in the United States, and Texas is leading the way,” Sen. Cruz said. “The LNG projects in both the RGV and Corpus Christi will further economic growth, help employ thousands of hardworking men and women, lower energy costs, and increase America’s energy independence.”
Texas Land Commissioner George P. Bush described the economic impact of oil and natural gas royalty revenues on the state.
“Texas is able to leverage revenue generated from oil and natural gas development on state lands to stabilize our economy and expand educational opportunities for all Texans,” said Bush.
During the event, Staples led a fireside chat with Corpus Christi Regional Economic Development Corporation President and CEO Iain Vasey and RGV Partnership President and CEO Sergio Contreras.
“The economic ripple effects of the oil and natural as industry in the Rio Grande Valley is profound,” said Contreras. “Every dollar invested and job created by this industry drives additional economic activity and employment opportunities in other, supporting sectors.”
“Jobs in the oil and natural gas industry are among the highest paying and most diverse in Texas,” said Vasey. “From welders and pipefitters to chemists and engineers to executive positions, the employment opportunities for the Gulf Coast workforce are vast. The energy sector as a whole is a fundamental underpinning of the Coastal Bend economy, and we are seeing resiliency in the sector as we come towards the end of 2020.”
Staples shared his perspectives on what Texas can do to accelerate economic recovery and help the state maintain its global energy standing.
“Recent developments remind us that benefits associated with a thriving energy sector are not guaranteed,” said Staples. “As oil and natural gas companies navigate the challenges of the marketplace, we need to be doing all that we can to maintain the stabilizing force that Texas has become for our state and the world. We can do that by holding fast to science-based regulations and policies that encourage responsible energy production, expanded pipeline infrastructure and continued investment in innovations that have made the United States the world leader in energy production and environmental progress.”
TXOGA is hosting regional energy summits across the state. The full schedule is here.
The entire Powering Your Community – Virtual Energy Summit Series is available to view online on TXOGA’s YouTube page and at http://www.txoga.org/2020-virtual-energy-summit-series/.
Founded in 1919, TXOGA is the oldest and largest oil and gas trade association in Texas representing every facet of the industry.