Railroad Commissioners’ Comments on Record Royalties and Taxes Generated by Oil and Gas Industry
AUSTIN – The Railroad Commissioners of Texas today made the following statements regarding a new report by the Texas Oil and Gas Association highlighting a record $15.7 billion in taxes and royalties paid by the industry in 2014:
Chairman Christi Craddick: “This report proves the industry remains a strong and vibrant part of the Texas economy. Through effective regulation and responsible operation, we will continue to work together to create opportunities for Texans.”
Commissioner David Porter: “Our state’s economy and our nation’s energy security are dependent on a strong oil and gas industry. I’m especially proud of the Railroad Commission’s hard work and leadership in ensuring public safety without overregulation of this critical industry.”
Commissioner Ryan Sitton: “This report makes clear how important responsible production of oil and gas is to every single Texan. The fact that the oil and gas industry supports 41 percent of the Texas economy demonstrates how critical it is that the Railroad Commission makes sound, science-based decisions providing stability and predictability.”
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.