Texas, United States, Commissioner discussed on Permian Perspective Podcast

Automatic TRANSCRIPT

A ten half hour basically townhall stats out meeting that. We didn't much we're doing the meeting. We had looney around thirty. Almost thirty thousand kissed One hundred sixty plus countries forty nine stakes and I think this is stored in open government. Open input from people will sit up. Ever venue and pro-russian itself most of the motions were made including the requesting to companies. Were the Texas basically not going along that we make wranglings other states to pro right because we now are thirty percent of the national production of owning gas and so we did it just along. What keeps other states under control to do that? It was this mystical faith that will reach across our fingers and hope and feel real secured a that so I called. Jc where I'm members you mention. Top Mass Transit North Dakota even talk to the minister energy in Cancun and called around and just found that we were not gonna get participation through them so the actual request is made by multiple people to enact pro. Russian was not fulfilled. Nobody else was going to jump on board with US and so with that in itself even by their own motions or requests we did not meet their standard and so legally after that ten after meeting called Title Asset Athlete. We need is the industry as regulatory to know what the industry who built the greatest only guest industry in the history of planet earth which is Texas who's producing forty percent of the national. Iming Texas can brag when you look to our energy capital in the United States and I said suggestive job building industry arch all the ones that should come up with answers to fix and Tom Jumped on board and can tell put together. They yesterday came as a task force before us. With recommendations in fact about four dozen recommendations formality recognition legislature and other agencies government can release that report request of the differ associations to our staff with rogue nations which they could appropriate which they could do which they felt Iraq and yesterday the commissioners voted to adopt act three nothing the recommendations of Todd's taskforce appreciate top relating in e- eliminating unsure can stay in the program so a recommendation made that we've implemented the railroad commission while fame gets a little too much credit German Christie. We've had a great team. Obviously the game to get our enemy. Say This for those that are in the gas business. We all recognize the extreme cash off in circumstances that are taking place in the US. Why German crucial challenge the industry to step worked? Really come together. And you know the industry or was a difference of opinion on Obviously but the good news is on this blue dashboard. German person to come up with we came together at differences of views on probation. As far as technology in our association we have members that different opinions on the on the mat but a vast majority of our members we can poison that it was not for Texas. An infant ever do more damage than good. I kinda think applying pro-russian to this current process that we're in is not putting a nineteen fifty tire on a twenty twenty. Sports doesn't fit it. Wouldn't be a Saint Ryan is going to cause more problems than good in this modern day environment that we operate innovation. Technology is what has enabled us to be the energy gap or Laurel and maintain that Lhasa fee as we work through these issues. The moving actually did that as Jewish Christian sat over four dozen recommendations and it was not exclusive to the Rabbit Commission and looked at things at. Tc We appreciate the leadership of Commissioner. George Bush at the General Land Office in the things that the land offices now we appreciate university lands working with industry. We added some additional ideas that vendors how we appreciate the leadership of Glen Hangar at the Controller's Office. We made some more work. That could be done there. Some of the trade associations were at a federal level texts. We try to focus our I say you go. Please go to the votes in the sable smile at you now. Nothing ever good happens. It saves Bad but we didn't play at the federal level as well ought to create the door within the introducing things and so as not look at the work that's done here. This is just the beginning. This recovery process is going to take a while unfortunately the Ford Contract for entity is actually in the posit ranges. It was in the upper twenties spent over twenty nine the upper upper twenties which has been a good signal. But we've got a long way to go may generally chaffee months. Our goal in this lucrative and task force was to yet employees in their jobs and help implore employers. Availa survived through these difficult circumstances. So we've got a ways to go but we want to continue to get your idea. We now that members are At lives have given address to the asphalt with project us. We want to continue. This is going to be an ongoing process. The commission did strong action gesture night. Authentic majority you and commissioner products Overnight atoms the you immediately put into action in thinking about as it's nice when industry can't agree to in the because we know that they can use these tools to go work. Keep people in their jobs in the industry. The rebound quicker. But I'll say one thing out here L. So you know the the thing. We need more than anything to get. This industry back on state is to get our calm. There is no substitute for consumers going about their daily lives. You know s what's needed. Government added is focused on that. We appreciate that. The president is focus on that we have to do it. The site lie but the only thing. That's really going to help get out with Tom. Thank you for that and I think the great car analogy. That was great too. It is wonderful to see the industry working together. Tell us what why you think it's important for synergy for multiple trade groups for oil and gas to come together. This dot com size fits all problem the solution being and I think our ribbon task force led by Todd was was very good common site. We're really concerned about those companies. That are thousand barrels a day or less. It's actually the little guys. You're strong small couple of strong companies but indeed were concerned that there's rules. We needed. Relax the commission that while the safety to continue the protection of the public continue but at the same time back offer at least one year it was us get through this downturn and hopefully we can review them in that time saw that we put a one year town lock on these policies that we wrong that finally reduced income to the Railroad Commission to our budget which wanted government suffer at the same time as the industry of the citizens. Do we're matching trying to address these issues one time but we we have backed off those fees regulations in that that Matt now is is the first of the big picture this is. I unlike the solutions that make the handle sadly sometimes wrong just when government comes in and says it's in you this you do that you do this. We handled it believe in Texas. The railroad bridge was a historic day. We showed that government went to the free market to the industry to the people gathered. Put this strong system. Get it and we said. Where can we assist you? Where can we get out way up work and we come in and regulate to accomplish more purposes so that the free market can again accomplish? What always hundred persona has a success better than government? Not like this. This is a real question in our society today. Do We want socialism? Big Brother Government in the United States as is being proposed today politically ours at best the system I believe our founders gave us in this country three market economy that indeed nothing understand but the answer always seems to come better from allowing government to support industry resin government be the dictator to the industry. I think that was established in just over out Las Vegas equipped frankly. The markets need certainty. Yesterday it was wind up meeting with some proposing. Not Make a decision. We just talked about the pro-russian as being a stockbroker for thirty plus years and banker. Understand that one of the hardest things market deals with is uncertain and I thought it was only appropriate. We take a boat yesterday on this specific tag to say yes or no pro-russian yesterday we did two to one vote to not consideration. This particular instance. That gig Sony the Martin Market Out grab the the let's s Alta credit for that. Don't it's always nice to see it go up. Yesterday you charge the Task Force with developing a report on flaring by June Sixteenth. What's the idea behind the report quiz? The thing is what I've seen on your before this downturn ever happening. This is a separate almost situation referring issue. We the study. The commission found that actually western two percent of the produce Gash right now is being flair. But that's a heck of a lot in texts mostly because a whole nother discussion of how mishandled Dr Renewed. Deal in our challenge. Early guesses something terrible. And that's been allowed to be on the mind of our public after falsely that we have some covering ourselves as the offense when you take on acquainting the public what actually oil and gas in fossil fuel have done to make us the strongest greatest country in history that that to be so the flaring issue on Love Street will stopping financing from coming to many of our producers in the state of Texas. Was it the fact of firings bad as bad as the perception is killings and right now of the big problems this downturn.

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