03-20-2020, 02:00 PM
(03-20-2020, 01:35 PM)vbin Wrote:(03-20-2020, 01:09 PM)fenders53 Wrote: VBIN, I just read the TX Railroad Commission which regulates TX oil industry, is reaching out to OPEC for negotiations. Pretty sure CARTELS are illegal in the US. I don't know how you even begin to legally regulate US production when you have small companies facing bankruptcy. I am thinking they would have to play the environmental card and outlaw flaring or something similar. The global recovery would benefit from continued free oil so this is going to be very interesting if meetings do happen. I still have a bit of oil in my "retirement boat account" so I'm on your side.@fenders53 I need a bit more education on TX railroad commission, definitely going to read about it. Would appriciate your thoughts on the outcome.
The railroad commission is the GOV authority for TX oil as weird as that sounds. It's been that way since the boom years decades ago when Texans were wrecking the market with too much oil. My thoughts on the outcome is this will be very eventful and there WILL be lawsuits if you cause small frackers to go out of business. My wildest guess is they outlaw flaring for the good of the CO2 fight if they want to slow down unnecessary production. Price fixing is illegal so they will have to hit it from a different angle.