Austin, Texas — The United States continues to closely watch which presidential candidate will secure the 270 Electoral College votes needed to win the Oval Office. While U.S. President Donald Trump won in Texas, it is possible the final results for other states could take hours or even days to tally. At the state level, a record 10.7 million people voted in Texas, but the surge in turnout produced no significant surprises. As we await the results for the Electoral College, Ed Longanecker, president of the Texas Independent Producers & Royalty Owners Association (TIPRO), provides the following statement regarding the 2020 Texas elections. A summary of the Texas election results can also be found here: TIPRO Election Results and Analysis.
“TIPRO congratulates the Texas candidates that prevailed in this election cycle and we look forward to working closely with them on issues of relevance to the oil and natural gas industry, a cornerstone of our state economy.
Despite an influx of out-of-state donations, Republicans ultimately won every single statewide race in Texas and held onto the majority in the Texas House of Representatives and the state Senate. Of particular note, Republican Jim Wright defeated Democratic candidate Chrysta Casteneda in the November 3rd Election for Texas Railroad Commissioner, a position of critical importance for regulating the Texas oil and gas industry. Mr. Wright has committed to continue developing the state’s energy resources in a responsible manner, while providing regulatory certainty to the hundreds of thousands of men and women that make up this industry, a sentiment shared by his fellow commissioners.
Regulatory certainty enabled the United States to increase domestic oil production from 9 million barrels per day under the Obama Administration to a pre-pandemic level of 13 million barrels per day. Much of this is due to the enormous contributions made by Texas operators. In fact, if Texas was its own country, last year the state would have ranked fifth globally for oil production and third for natural gas output.
Maintaining a legislative and regulatory environment conducive to economic growth and opportunity is a key strength and differentiator for Texas and should be a topic that all policy leaders embrace and collaborate on for the benefit of our state and country. The United States has proven that leading the world in oil and gas production, energy diversity and environmental stewardship are not mutually exclusive, thanks in large part to Texas.
TIPRO stands committed to working with all officials, regardless of party affiliation, to reinforce the importance of the oil and natural gas industry and to help promote sound, science-based energy policies at all levels of government.”