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Volts
What's the deal with the Texas Railroad Commission?
Oct 4, 2024
Virginia Palacios, Director of Commission Shift, dives deep into the Texas Railroad Commission—an entity with a misleading name and a cozy relationship with the oil and gas industry. She unveils its troubling history, especially regarding regulatory failures during Winter Storm Uri, resulting in power outages and severe consequences. The conversation highlights urgent issues like orphaned wells, methane emissions, and public health risks tied to lax regulations. Palacios advocates for much-needed reforms to ensure accountability and protect Texans' safety and environment.
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Quick takeaways
- The Texas Railroad Commission, despite its misleading name, significantly influences the oil and gas industry while lacking effective consumer advocacy and transparency.
- The commission's poor regulatory response during Winter Storm Uri exacerbated power outages and highlighted the risks of inadequate infrastructure management.
Deep dives
Significance of the Railroad Commission of Texas
The Texas Railroad Commission oversees a vast portion of the United States' oil and gas industry, controlling over 40% of the nation's oil production and about 27% of its natural gas. Despite its name, which suggests a focus on railroads, the commission's historical roots date back to when it regulated oil prices globally. This regulatory body is influential within international oil markets, having had a structural impact on groups like OPEC. Its continued prominence highlights the need for transparency and accountability in how it governs the state's energy sector.
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