Commissioner Ryan Sitton Debuts 2018 Energy Market OutlookApril 26, 2018
AUSTIN — Texas Railroad Commissioner Ryan Sitton today debuted his 2018 Energy Market Outlook, an in-depth analysis of global energy markets and predictions for the remainder of the year. With more than 20 years of experience in the oil and gas industry, and as the first engineer to serve on the Commission in 50 years, Sitton has spent his career carefully studying global energy markets.
“With Texas poised to shatter energy production levels, it is more important than ever to be closely monitoring activity and using economic fundamentals to drive decisions about where we need to dedicate resources,” Sitton said.
“Understanding where the market is headed helps inform what we do at the Railroad Commission from a regulatory standpoint, allowing us to better plan and prepare for increased permit activity, inspection and monitoring requirements and other resource demands on the Commission. This analysis makes clear that the Texas energy industry is well positioned but infrastructure investment is needed to ensure we realize our full potential.”
The report examines crude oil, natural gas, and other energy sources, such as wind, solar, geothermal and hydroelectric, and is based on both historical data from various resources, including the International Energy Agency and U.S. Energy Information Administration, as well as extrapolated data from Sitton’s analysis.
Commissioner Sitton has consistently advocated for enhanced energy transportation infrastructure that is key to Texas energy capitalizing on its opportunities. With the growing demand for U.S. and specifically Texas energy, as detailed in this report, more pipelines and enhanced ports are imperative to ensure our ability to safely and efficiently transport Texas energy around the world.
(Note: Commissioner Sitton’s political disclaimer is included on this report because campaign dollars will be used to print hard copies for interested Texans. The RRC does not have a budget to print reports such as this and campaign dollars can be used for official purposes under Texas campaign finance laws.)
About the Railroad Commission:
Our mission is to serve Texas by our stewardship of natural resources and the environment, our concern for personal and community safety, and our support of enhanced development and economic vitality for the benefit of Texans. The Commission has a long and proud history of service to both Texas and to the nation, including almost 100 years regulating the oil and gas industry. The Commission also has jurisdiction over alternative fuels safety, natural gas utilities, surface mining and intrastate pipelines. Established in 1891, the Railroad Commission of Texas is the oldest regulatory agency in the state. To learn more, please visit http://www.rrc.texas.gov/about-us/.