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"texas commission environmental quality" Discussed on Oil and Gas Startups Podcast

Oil and Gas Startups Podcast

07:40 min | 2 months ago

"texas commission environmental quality" Discussed on Oil and Gas Startups Podcast

"The guy quake. So you know I did I did one thing smart though in the agreement that I signed with them that if their stock had fallen lowest certain price, I had a buyback provision So I was able to buy back the stock and kind of continue on in I I. I broke the company up into a couple of other companies and then Balsam shares as we moved along in time and other companies. That's right now tell you I've been associated with fourteen companies. Yes nineteen ninety-one. Because you know when you when you? Run successful companies are always deals at come along some good. Some are bad and trust me of that's been a fifty fifty mix for me but you know it's been good. Is this business that she started in ninety one who was an environmental businesses and Korea, actually it was an emergency response environmental business. We started with a contract with a public utility that provided electricity before deregulation in they pretty much had San Antonio South. So every time they had a transformer that leaked oil. We were hard to go out and clean up those spills and tests that they were cleaned up and do what we called reports back to the Texas Commission environmental quality on those cleanups, and it would surprise you often a transformer fails. So that you know it really Kinda shot business up quickly and we moved on and we. He had mentioned something earlier about you know ups and downs and businesses and You know we made a couple acquisitions before I sold the first time we bought a pipeline company well to put in pipelines and they had done. Well, we put a lot of money form and I don't think it stopped raining the entire year after we bought this pipeline. Bought it in imperilling. Texas. Imia these projects and. Whenever. We're going to go to work. It's rained every day we have such a similar. Jesus you know this is not a good acquisition. So he ended up selling the assets and we got out of the pipeline business they not learned. After or three times more than that to stay in what I know. And works out for me if I ever venture often stuff I don't really know a whole lot about I, I usually don't do very well. Yeah. I think it's a pretty good rule to follow. Is such a funny story with the with the rain comment because a of people that follow us know that we boss oil wells up in Oklahoma and the year that we own was the Iranians year on record for northeast Oklahoma, and we just couldn't get any work done on the wells and so that it that held back Oliver. State at the same restaurant I did yes. But I can tell you this this. This time in my life is is entirely different for me because you know I I I was young like you guys wanted and I would think you know it was always thinking. I need to be bigger need to be you know more need to be this and And I had a really bad thing happened our family in two thousand seventeen to my wife and it changed my outlook on life it changed to where You know some promises that I made to God for what he did for me and my my family and. To to make sure that I that I do whatever I can to make things better for us here in. Texas, for people in general. And and and it got to where my businesses today are run by people that have hard. I've got really good folks at work for me. It's giving me the time to WANNA go out and run for this race and start making some changes, and that's what that's what you know one of the session for me. Making that yet I was gonNA. Ask You know what drives you go from. Owning and operating businesses to wanting to all of sudden jump into a political position. You know I told me when you walked in US like I'm not a politician. Not the. Yeah you know and I if. It's just a completely different world. Right going from business made an entrepreneur to going into the political landscape. So you know for you is that kind of what drove us to have a higher purpose to help help me well. You know. What God's done for me in in in keeping things together forest after my wife's accident has been tremendous and I made some commitments and In asking for him to help me do that that that was one of the big factors of me throwing my hat in the spring, and then secondly you know as. As the shale you guys are familiar with what happened with the shale we discovered the shale. If you remember back in the eighties, we didn't think we had any gas oil as what brought us, trading with foreign countries to buy oil, and that's what brought us to tooling our our refineries mostly on heavier crude lung he hit from foreign countries yet. You know with discovery, the shale that change completely changed the dynamics in this deal. So naturally, my company's revenue trailed behind you know what was hot and what was going, which was the oilfield meet. We got more involved in dealing with them in handling permits with railroad commission or violations with Railroad Commission and have got a pretty good customer base in that side. from the environmental aspect. In it was in that that assault, the railroad commission that. They have got some staff that not not necessarily understands. The oil and gas industry in the economics of you know how that works for Texas and how important that economics is Texas in that you know. A lot of those don't don't bring the experienced they. They set them down and they say, okay, we need to do X. Job, and here's the rules at around these this X. job and I don't know if you guys have ever read governmental rules. But there, there are a lot of interpretation in their reading the Bible. Sepe give an inexperienced person that that rule in asked them to make an interpretation you're gonNA start having delays you're GonNa, you know you're going to have which which essentially impact what our economic growth is, which was what was happening to my customer base. So. I actually had some our customers and and a couple of other people that said Hey will volunteer our time if we can get the railroad commission to accept us to come in and help right guidance documents. For you know staff members to kind of follow. So we get a better level playing field you know in timeliness and in making sure that our Connie's moving along in that that is not held up. Waiting on decisions by the Railroad Commission because somebody's inexperienced. And? I actually. Talked to one of the commissioners and And they said yeah that that. We think that's a great idea. We'll give you access to staff well. Lo and behold test. We didn't meet one staff member that really wanted to work with downside taskforce to to write guidance documents they they're adamantly against that. So a task force that are formed looked at me since I was a guy that formed it and said, Jim, we you know we really really would want to make these changes. Would you consider running for? Railroad, Commissioner. That was in July at Twenty nineteen, it was actually December sixth. On owner forget that day. At the December seventh is my wife is a anniversary and she loves to play slot machines. So we hopped in a private plane and we left sit in Texas which is near where we are ranches and and we're flying in and looked at are neces- Demata Mato Stop in Austin she said for what? So I want to register for railroad commissioner she looked at me said you nut I. Saw Dea and It it was amazing going through the primary but I but I.

Railroad Commission Texas Texas Commission Oklahoma Balsam Commissioner Korea San Antonio South US imperilling commissioner Lo Demata Mato Jim assault Connie Oliver Austin