American Oil and Gas Reporter - January 2016 - 141

TEXAS INDEPENDENT
PRODUCERS & ROYALTY
OWNERS ASSOCIATION
RAYMOND WELDER
PRESIDENT AND CEO
WELDER EXPLORATION &
PRODUCTION INC.
SAN ANTONIO, TX

FROM THE CHAIRMAN
There is little doubt these are interesting
times for independent oil and gas producers and royalty owners. Nevertheless,
despite the collapse in commodity prices,
the oil and gas industry will continue to
serve as an economic cornerstone. The
oil and natural gas industry fully supports
41 percent of the Texas economy and
provides the Lone Star State with hundreds
of thousands of well-paying jobs.
In 2014, the Texas oil and gas sector
delivered a record $15.7 billion in state
and local taxes and royalties, the highest
such collection from the oil and gas industry in Texas history.
Still, even with the industry's dominant

economic role, producers will have to
react and adjust to a number of variables
during 2016, including wild price swings,
rising operation costs, geologic realities,
environmental activists' unsubstantiated
and false claims, and ever-changing regulations, especially on the federal level.
The Feds
Federal entities, including the Environmental Protection Agency, Bureau of
Land Management and Bureau of Safety
and Environmental Enforcement, continue
to pursue new, excessive regulatory standards for the oil and gas industry, posing
serious concerns for the upstream sector.

Among their considerable initiatives, federal regulators are looking to impose
strict mandates on hydraulic fracturing,
well construction, air quality and even
offshore development.
The timing could not be worse. With
the U.S. oil and gas industry already
under stress from weak commodity prices,
these federal regulatory proposals threaten
to impose unattainable costs and burdens
on American independent producers. They
are some of the most expensive and onerous regulations the federal government
ever has released. In many instances,
these new federal rules also are unnecessary and counterproductive.
In response to ongoing Washington
policy developments, Texas legislators
have been directed to thoroughly evaluate
how Obama administration rules may affect the Lone Star State, its economy and
energy reliability. During 2016, the Texas
House Committee on Federal Environmental Regulation specifically will take
a hard look at recently proposed or finalized EPA rules, including its Clean Power
Plan, National Ambient Air Quality Standards, redefinition of "Waters of the
United States" under the Clean Water
Act, and proposed standards regulating
oil and gas producers' methane emis-

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Tel (713) 680-9996

JANUARY 2016 141



American Oil and Gas Reporter - January 2016

Table of Contents for the Digital Edition of American Oil and Gas Reporter - January 2016

Contents
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American Oil and Gas Reporter - January 2016 - Cover2
American Oil and Gas Reporter - January 2016 - Contents
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