April 14, 2020
Texas Oil & Gas Association (TXOGA) President Todd Staples delivered remarks during a public meeting of the Texas Railroad Commission and urged the Commission to avoid government-mandated oil production cuts. An exhibit displayed during TXOGA’s presentation is available here. TXOGA’s submitted written comments are available here.
The following can be attributed to Todd Staples, president of the Texas Oil & Gas Association:
“The Texas Oil & Gas Association (TXOGA) is our state’s oldest and largest oil and natural gas trade association whose membership includes every sector of the industry including exploration and production, transportation and storage, refining, and a host of service companies. Our Association strongly opposes the idea of the Texas Railroad Commission exercising proration of oil production, a position that was determined by a wide variety of members, who overwhelmingly oppose proration as a remedy to the current situation. We respect our members who may have a different view.
“Government control of Texas oil production is not the answer. The Texas market is already responding to low prices and depressed demand with greater efficiency than a government-controlled system can and with less damaging consequences than those we would experience from government-imposed controls. What we need is regulatory certainty, and a return to a more stable economic environment, not a fundamental shift in our market-based system. We do not want to give up on the very market-based system that unleashed innovation and technological advancements that have produced the most dynamic oil and natural gas industry in the world, headquartered right here in Texas.”
Founded in 1919, TXOGA is the oldest and largest trade association in the State representing every facet of the Texas oil and natural gas industry.