Austin, Texas – The Texas Independent Producers & Royalty Owners Association (TIPRO) continues to closely track the escalating conflict in Ukraine and its impact on global energy markets. The following statement can be attributed to TIPRO’s President Ed Longanecker:
“Energy security is national security, and Texas plays a critical role in powering our own economy and enhancing the security of our global allies. Countries around the world and leading oil and natural gas producers are uniting against Russia’s aggressions. We now need decisive leadership and action from policy leaders in Washington, D.C., to help stabilize world energy markets by supporting domestic oil and natural gas production, energy infrastructure and expanded exports of crude oil and liquefied natural gas (LNG). The decision to release additional reserves from America’s Strategic Petroleum Reserve (SPR) is not a long-term solution to address rising energy prices or geopolitical conflicts.
The United States, and Texas in particular, has proven its ability to ramp up oil and natural gas production to support growing demand here and abroad, but we need a policy framework and strategy that better leverages our domestic production capabilities.”