Chairman David Porter Addresses 21st Annual Executive Oil Conference - Says Texas Owes Economic Strength to Innovation, Regulatory Framework & Leadership
MIDLAND –Railroad Commission Chairman David Porter today at the 21st Annual Executive Oil Conference discussed the current state of the oil and gas industry and the important roles of leadership, law and policy when developing energy resources. Porter—who heads the state agency that regulates oil and gas exploration and production in Texas—emphasized that a strong, stable regulatory environment is critical to the health of the energy industry, especially with recent volatility in energy markets.
“Texas is stronger today because of oil and gas shale development. The success of shale is largely due to our regulatory environment and industry-leading innovation,” Porter said. “During this downturn, we need to make sure the energy industry is able to produce fairly, efficiently and economically, so we can continue building upon that strength. We need state and national leaders that will help us keep our job growth strong and our economy thriving, and leaders who will make energy independence a priority.”
Porter applauded the Texas energy industry for improvements in its best practices and attributed those changes to Texas’ continued strength during times of economic challenge.
“We’ve maintained record production levels – in the face of major challenges – here in Texas because industry has become more innovative and more efficient, and that is an accomplishment to be very proud of,” Porter said.
Texas Railroad Commission Chairman David Porter was elected statewide by the people of Texas to serve as a member of the Commission in November 2010. A Certified Public Accountant and successful small business owner, Chairman Porter has worked with oil and gas producers for nearly three decades providing strategic financial advice and tax counsel. He is the senior member of the Commission with a proven record of principle-driven, free market conservative leadership.