Chairman David Porter Highlights Impact of Mexican Energy Reform - Focuses on prospective business opportunities for Texas companies, potential economic impacts and America’s future energy security
AUSTIN – Railroad Commission Chairman David Porter today highlighted the opportunities for economic and energy security resulting from Mexican energy reforms. Porter—who heads the state agency that regulates oil and gas exploration and production in Texas and serves as the agency’s longest-serving member — explained how, in light of the recent drop in oil prices, fostering an energy rapport with Mexico could benefit the state and national economies and help secure energy independence.
“Oil prices have dropped to the lowest point since early 2009, and OPEC will keep doing everything it can to weaken the crude market, dominate competitors and harm the U.S. economy until someone steps in and changes the game,” Porter said. “The United States can change the game, and we can start right here in Texas by strengthening our energy relationships with our neighbors.”
Porter has worked to build those relationships in several visits to Mexico since the country’s historic energy reform bill became law in December 2013. Most recently, he was invited by Governor Egidio Torre Cantúto to visit the state of Tamaulipas, which shares the energy-rich Eagle Ford Shale formation with Texas. Porter was given a tour of the state’s energy plants and deep-water ports. He pointed out that Mexico’s officials continue to reach out to leaders like him to learn more about the keys to Texas’ successful energy industry and the importance of regulatory framework.
“I’m pleased and eager to share with our neighbors the expertise the Commission has in energy regulatory structure, infrastructure and emerging drilling technologies,” Porter said. “While Mexico’s reforms are still a work in progress, I’m confident their new regulatory framework will eventually increase energy production in both of our countries, offer potential business opportunities for Texas and provide North America access to a more secure, abundant energy supply.”
Joining Porter in the panel discussion were Antonio Garza, Former U.S. Ambassador to Mexico, and Carlos Garcia, Director of International Operations for Lewis Energy. The panel was hosted by AEM Bi-National Energy Committee in San Antonio and before an audience of entrepreneurs and business leaders from the United States and Mexico.
Railroad Commission Chairman David Porter and former U.S. Ambassador to Mexico, Tony Garza
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.