AUSTIN, Texas (RRC) – Texas Railroad Commissioner Ryan Sitton today released his 2019 Energy Market Outlook. The Outlook is an in-depth analysis of current global energy markets and predictions for the remainder of the year and into 2020.
With more than 20 years of experience in the oil and gas industry, and as the first engineer to serve on the Commission in 50 years, Sitton has spent his career carefully studying global energy markets.
“Texas is shattering previous energy production records, leading the nation by far. It is more important than ever to keep an eye on activity and use sound economic fundamentals to drive decisions about where we should dedicate resources,“ Sitton said. “Understanding where the market is headed helps inform what we do as regulators at the Railroad Commission, allowing us to better plan and prepare for increased permit activity, inspection and monitoring requirements and other resource demands on the Commission. This analysis makes clear that the Texas energy industry is well positioned but infrastructure investment is still needed to ensure we realize our full potential.“
The report examines crude oil, natural gas, and key environmental trends related to energy markets, such as emissions and flaring information.
It is based on both historical data from various resources, including the International Energy Agency and U.S. Energy Information Administration, as well as extrapolated data from Sitton’s analysis.
Commissioner Sitton has consistently advocated for enhanced energy transportation infrastructure as key to Texas capitalizing on its energy opportunities.
With the growing demand for U.S. and specifically Texas energy, as detailed in the 2019 Energy Market Outlook, more pipelines and enhanced ports are imperative to ensure our ability to safely and efficiently transport Texas energy to the world.
View the full report here.