August

2014

The Economic Benefits of Oil and Natural

Gas Production:
An Analysis of Effects on the United States
and Major EnergyProducing States

THE PERRYMAN GROUP

510 N. Valley Mills Dr.
Suite 300
Waco, TX 76710
ph. 254.751.9595
fax 254.751.7855
info@perrymangroup.com
www.perrymangroup.com
The Economic Benefits of Oil and Natural Gas Production:
An Analysis of Effects on the United States and Major Energy Producing States

Table of Contents

Introduction ....................................................................................... 1
Economic Benefits of Oil and Natural Gas Drilling and
Production .......................................................................................... 3
State-Level Results................................................................................................ 4
Conclusion .......................................................................................... 9
APPENDICES ..................................................................................... 10
Detailed Sectoral Results for the United States ................................................... 11
Methods Used ......................................................................................................12
About The Perryman Group ................................................................................15

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The Economic Benefits of Oil and Natural Gas Production:
An Analysis of Effects on the United States and Major Energy Producing States

Introduction

Theresurgenceoftheoilindustryoverthepastfewyearshasbeendramatic.Production
levelshavereachedtotalsnotseensincethelate1980sandcontinuetoincrease.In
2012,totalUSproductionwasalmost2.4billionbarrels,with2013risingtomorethan
2.7billion.ItappearsthattheUnitedStateswillbetheworldsleadingproducerbythe
endof2014.AlthoughtheUnitedStatesstillreliesonimportstomeetabout40%of
crudeoilneeds,theincreaseindomesticsupplieshashelpedreducedependencyon
foreignoilandimprovetheUStradesituation.

Aprimaryreasonforthisgrowthistechnologicaladvancementsincludinghorizontal
drillingandhydraulicfracturing,whichhaveunlockedpreviouslyunrecoverableoiland
naturalgasreservesinshaleplays.Earlyexperimentsinhydraulicfracturingbeganinthe
1980s,butitwasdecadeslaterbeforethetechniquedeveloped(andpricesincreased)to
thepointofmakingdrillingwithinshaleplayseconomicallyfeasible.Withhorizontal
drillingandbetterexplorationtools,thenationsshaleplayshavebecomeprimary
sourcesofnewproduction.Theseadvanceshavealsoallowedfortherejuvenationof
wellsinolderfields,furtherenhancingactivityintheindustry.Otherfactorsinclude(1)a
pricesituationthatreflectsgrowingworlddemand;(2)alackofleverageinfundingthe
gains,thusprovidinggreaterresiliencetofluctuations;and(3)actualincreasesin
productionfromnewlyavailableresources.

Theoilsurgehasalsobeenimportanttotheeconomicrecoveryfromtherecent
recession.Whilemarketconditionsandpricelevelsarecurrentlylessfavorableto
extensivenaturalgasexploration,thereisnonethelessasignificantlevelofinvestmentin

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The Economic Benefits of Oil and Natural Gas Production:
An Analysis of Effects on the United States and Major Energy Producing States

developingnaturalgasresources.Althoughdirectemploymentintheindustryisasmall
percentageoftotaljobs,theworkisoftenwellpaying.Moreover,therippleeffects
throughtheeconomyofthishighvalueaddedindustryarelarge,especiallyinstates
whichhaveasubstantialconcentrationofsupportservices.

ThePerrymanGroup(TPG)recentlyanalyzedtheeconomicbenefitsofoilandnaturalgas
drillingandexplorationactivityintheUnitedStatesandmajorenergyproducingstates.
Resultsofthisassessmentaresummarizedinthisreport.

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The Economic Benefits of Oil and Natural Gas Production:
An Analysis of Effects on the United States and Major Energy Producing States

Economic Benefits of Oil and Natural Gas Drilling

and Production

Explorationandproductiongeneratesbusinessactivityacrossaspectrumofindustries.
Instateswheretheenergysegmentiswelldeveloped,rippleeffectsareevenlargeras
thenetworkofsuppliersandsupportindustriesareabletomeettheneedsofoilandgas
companies.ThePerrymanGroupfirstestimatedthedirectinvestmentinoilandnatural
gasexplorationandproduction(includingvariousoilfieldsupportactivities),then
quantifiedthetotaleconomicbenefitsofthisactivitywhenmultipliereffectsthroughthe
economyareconsidered.(Formoreinformationregardingthemethodsandtermsused,
seepage8andtheAppendicestothisreport.)

Thetotaleconomicbenefitsofoilandgasexplorationanddevelopmentactivity
(includingmultipliereffects)areestimatedtoincludealmost$1.2trillioningross
producteachyear,aswellasmorethan9.3millionpermanentjobsintheUnited
States.Bybothmeasures,thisactivityrepresentsnearly7%oftheUSeconomy.

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The Economic Benefits of Oil and Natural Gas Production:
An Analysis of Effects on the United States and Major Energy Producing States

The Annual Economic Benefits of Oil and Gas

Exploration and Production:
Gains in US Business Activity
(Monetary Values in Constant 2014 Dollars)

Total Expenditures $3,411,010,049,109

Gross Product $1,171,303,677,484

Personal Income $658,311,398,569

Retail Sales $242,646,639,893

Employment (Permanent Jobs) 9,312,478
Note: Direct activity is based on various measures of industry performance as reported by the Bureau of
Economic Analysis, the Bureau of Labor Statistics, and the Energy Information Administration. Total
activity (including indirect and induced effects) is based on simulations of the US Multi-Regional Impact
Assessment System.
Source: The Perryman Group

ThePerrymanGroupalsofoundthattheeconomicbenefitsofoilandnaturalgas
productionhavemorethandoubledoverthepast10yearsevenafteraccountingfor
theeffectsofinflation.Moreover,thenewjobscreatedbythissectorsincethe
recoveryfromtherecessionbeganareresponsibleforabout30%ofthenational
increase.Theabilitytoproduceoilandgasfromshaleplaysusingadvancedrecovery
methodshasbeenthedrivingforcebehindthisrenaissanceintheUSenergysegment.

StateLevelResults

AnassessmentofseveralmajorenergyproducingstatesindicatesthatTexasrealizesthe
largesteconomicbenefitsbothfromthesubstantialoilandgasreservesinthestateand
thelonghistoryoftheindustryandresultingsupportingsectors.Bycontrast,instates
whereoilproductionhasonlyrecentlybeguntoescalate,suchasNorthDakota,support
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The Economic Benefits of Oil and Natural Gas Production:
An Analysis of Effects on the United States and Major Energy Producing States

industriesarestilldevelopingandrippleeffectsthroughthestateeconomyaresmaller.
Itshouldbenoted,however,thatNorthDakotaseesbenefitsofmorethan100,000jobs
inaneconomywithtotalemploymentofonlyabout500,000.Inthenewlyemerging
areas,overalleconomiceffectscanbeexpectedtoriseovertime.

The Current Economic Benefits of

Oil and Gas Exploration and Production:
Gains in Selected Major EnergyProducing States
Gross Product Employment
(Billions of 2014 Dollars) (Permanent Jobs)
Texas $472.535 3,794,527
Oklahoma $111.569 874,456
California $57.010 446,800
Louisiana $47.925 401,191
Colorado $47.686 373,349
Ohio $30.343 234,807
Pennsylvania $25.716 205,478
New Mexico $20.543 164,626
Wyoming $11.389 88,548
North Dakota $11.322 102,087
Alaska $7.405 58,201
Utah $6.221 49,054
US TOTAL $1,171.304 9,312,478
Source: The Perryman Group

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The Economic Benefits of Oil and Natural Gas Production:
An Analysis of Effects on the United States and Major Energy Producing States

Effect of Oil and Natural Gas Production on Gross Product

in Key Energy-Producing States: 2014

Texas

Oklahoma

California

Louisiana

Colorado

Ohio

Pennsylvania

New Mexico

Wyoming

North Dakota

Alaska

Utah

$0 $50 $100 $150 $200 $250 $300 $350 $400 $450 $500
Billions of Dollars
Source: The Perryman Group

Effect of Oil and Natural Gas Production on Employment

in Key Energy-Producing States: 2014

Texas

Oklahoma

California

Louisiana

Colorado

Ohio

Pennsylvania

New Mexico

Wyoming

North Dakota

Alaska

Utah

0 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000

Permanent Jobs
Source: The Perryman Group

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The Economic Benefits of Oil and Natural Gas Production:
An Analysis of Effects on the United States and Major Energy Producing States

Theseresultsarebasedonestimatesofoilandnaturalgasexplorationactivityandthe
overallsizeoftheindustryandrelateddirectspending.ThePerrymanGroupsimpact
assessmentsystemwasthenusedtoquantifytheassociatedmultipliereffects.Inthis
way,thetotaleconomicbenefitsstemmingfromoilandgasexplorationactivitywere
determined.

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The Economic Benefits of Oil and Natural Gas Production:
An Analysis of Effects on the United States and Major Energy Producing States

Measuring Economic Impacts

Anyeconomicstimulus(suchasdirectspending,investments,or
corporateactivity)generatesmultipliereffectsthroughoutthe
economy.Inthisinstance,directinvestmentinoilandgas
explorationandproductionwasdeterminedbasedonvarious
measuresofindustryperformanceasreportedbytheBureauof
EconomicAnalysis,theBureauofLaborStatistics,andtheEnergy
InformationAdministrationOncethedirectstimuluswasquantified,
theassociatedmultipliereffectsweremeasured.

ThePerrymanGroupsinputoutputassessmentmodel(theUS
MultiRegionalImpactAssessmentSystem)wasdevelopedbythe
firmover30yearsagoandhasbeenconsistentlymaintainedand
updatedsincethattime.Ithasbeenusedinhundredsofanalyses
forclientsrangingfrommajorcorporationstogovernmentagencies.
Thesystemusesavarietyofdata(fromsurveys,industry
information,andothersources)todescribethevariousgoodsand
services(knownasresourcesorinputs)requiredtoproduceanother
good/service.Thisprocessallowsforestimationofthetotal
economicimpact(includingmultipliereffects)ofoilandgas
explorationandproduction.Thesubmodelsusedinthecurrent
analysisreflectthespecificindustrialcompositionandcharacteristics
oftheUSeconomyandmajorenergyproducingstates.

Thesetotaleconomiceffectsarequantifiedforkeymeasuresof
businessactivity.
Totalexpenditures(ortotalspending)measurethedollars
changinghandsasaresultoftheeconomicstimulus.
Grossproduct(oroutput)isproductionofgoodsand
servicesthatwillcomeaboutineachareaasaresultofthe
activity.Thismeasureisparalleltothegrossdomestic
productnumberscommonlyreportedbyvariousmedia
outletsandisasubsetoftotalexpenditures.
Personalincomeisdollarsthatendupinthehandsof
peopleinthearea;thevastmajorityofthisaggregate
derivesfromtheearningsofemployees,butpaymentssuch
asinterestandrentsarealsoincluded.
Jobgainsareexpressedaspermanentjobssincethe
industrywillhaveongoingannualeffects.
Monetaryvalueswerequantifiedonaconstant(2014)basis.See
theAppendicesformoreinformation.

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The Economic Benefits of Oil and Natural Gas Production:
An Analysis of Effects on the United States and Major Energy Producing States

Conclusion

Investmentsinoilandgasexplorationandproductiongeneratesubstantialeconomic
gains,aswellasotherbenefitssuchasincreasedenergyindependence.ThePerryman
Groupestimatesthattheindustryasawholegeneratesaneconomicstimulusofalmost
$1.2trillioningrossproducteachyear,aswellasmorethan9.3millionpermanentjobs
acrossthenation.

Threeprimaryfactorsdeterminefutureoilandgasproduction:prices,geology,andthe
technologyavailableforexplorationandrecovery.Technologyhasalreadyplayeda
majorroleinincreasedproduction,withthedevelopmentofhydraulicfracturingand
otherinnovativerecoverymethodsunlockingoilandnaturalgasfromshaleplays.While
changingmarketconditionswillleadtocyclesintheindustry,theoilandgasindustrywill
beadriverofsubstantialeconomicactivityformanyyearstocome.

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The Economic Benefits of Oil and Natural Gas Production:
An Analysis of Effects on the United States and Major Energy Producing States

APPENDICES

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The Economic Benefits of Oil and Natural Gas Production:
An Analysis of Effects on the United States and Major Energy Producing States

DetailedSectoralResultsfortheUnitedStates

EstimatedCurrentAnnualImpact(asof2014)ofOilandNaturalGasProduction
onBusinessActivityintheUS
DetailedIndustrialCategory

(Permanent
Total Expenditures Gross Product Personal Income
Jobs)
Agriculture $31,766,471,741 $9,606,696,326 $6,211,932,184 93,415
Mining $1,574,739,913,297 $358,622,309,964 $177,214,028,901 1,046,790
Construction $124,245,671,237 $67,053,527,450 $55,256,283,456 743,808
Nondurable
Manufacturing $368,651,619,937 $97,100,227,554 $49,888,563,606 761,838
Durable
Manufacturing $128,028,391,737 $49,575,257,078 $32,923,226,572 433,803
Transportation
and Utilities $199,373,164,178 $70,566,783,937 $39,656,131,456 398,652
Information $37,862,452,498 $23,299,764,975 $10,045,497,416 88,991
Wholesale Trade $71,833,587,691 $48,554,487,588 $27,996,948,815 298,890
Retail Trade
(including
Restaurants) $242,646,639,893 $180,666,672,006 $104,757,309,511 3,100,906
FIRE $387,828,774,400 $125,739,379,138 $39,072,063,064 373,363
Business
Services $81,588,918,620 $47,852,880,844 $39,035,686,377 453,382
Health Services $54,482,396,231 $38,074,616,941 $32,192,441,286 507,487
Other Services $107,962,047,650 $54,591,073,685 $44,061,285,925 1,011,155
TOTAL $3,411,010,049,109 $1,171,303,677,484 $658,311,398,569 9,312,478
Source: US Multi-Regional Impact Assessment System, The Perryman Group

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The Economic Benefits of Oil and Natural Gas Production:
An Analysis of Effects on the United States and Major Energy Producing States

MethodsUsed

Thebasicmodelingtechniqueemployedinthisstudyisknownasdynamicinputoutputanalysis.This
methodologyessentiallyusesextensivesurveydata,industryinformation,andavarietyofcorroborative
sourcematerialstocreateamatrixdescribingthevariousgoodsandservices(knownasresourcesor
inputs)requiredtoproduceoneunit(adollarsworth)ofoutputforagivensector.Oncethebase
informationiscompiled,itcanbemathematicallysimulatedtogenerateevaluationsofthemagnitudeof
successiveroundsofactivityinvolvedintheoverallproductionprocess.

Therearetwoessentialstepsinconductinganinputoutputanalysisoncethesystemisoperational.The
firstmajorendeavoristoaccuratelydefinethelevelsofdirectactivitytobeevaluated;thisprocesswas
describedwithinthereport.Inthecaseofaprospectiveevaluation,itisnecessarytofirstcalculate
reasonableestimatesofthedirectactivity.Theprocessusedtodeterminetheinputinformationwas
describedwithinthereport.

Thesecondmajorphaseoftheanalysisisthesimulationoftheinputoutputsystemtomeasureoverall
economiceffectsoftheoilandgasrelatedstimulus.Thepresentstudywasconductedwithinthecontext
oftheUSMultiRegionalImpactAssessmentSystem(USMRIAS)whichwasdevelopedandismaintained
byThePerrymanGroup.Thismodelhasbeenusedinhundredsofdiverseapplicationsacrossthe
countryandhasanexcellentreputationforaccuracyandcredibility.Thesystemsusedinthecurrent
simulationsreflecttheuniqueindustrialstructuresoftheeconomiesoftheUnitedStatesandeachstate
analyzed.

TheUSMRIASissomewhatsimilarinformattotheInputOutputModeloftheUnitedStatesandthe
RegionalInputOutputModelingSystem,bothofwhicharemaintainedbytheUSDepartmentof
Commerce.ThemodeldevelopedbyTPG,however,incorporatesseveralimportantenhancementsand
refinements.Specifically,theexpandedsystemincludes(1)comprehensive500sectorcoverageforany
county,multicounty,orurbanregion;(2)calculationofbothtotalexpendituresandvalueaddedby
industryandregion;(3)directestimationofexpendituresformultiplebasicinputchoices(expenditures,
output,income,oremployment);(4)extensiveparameterlocalization;(5)priceadjustmentsforrealand
nominalassessmentsbysectorsandareas;(6)measurementoftheinducedimpactsassociatedwith
payrollsandconsumerspending;(7)embeddedmodulestoestimatemultisectoraldirectspending
effects;(8)estimationofretailspendingactivitybyconsumers;and(9)comprehensivelinkageand
integrationcapabilitieswithawidevarietyofeconometric,realestate,occupational,andfiscalimpact
models.Moreover,themodelusesspecificlocaltaxingpatternstoestimatethefiscaleffectsofactivity
onadetailedsectoralbasis.Themodelsusedforthepresentinvestigationhavebeenthoroughlytested
forreasonablenessandhistoricalreliability.

Theimpactassessment(inputoutput)processessentiallyestimatestheamountsofalltypesofgoods
andservicesrequiredtoproduceoneunit(adollarsworth)ofaspecifictypeofoutput.Forpurposesof
illustratingthenatureofthesystem,itisusefultothinkofinputsandoutputsindollar(ratherthan
physical)terms.Asanexample,theconstructionofanewbuildingwillrequirespecificdollaramountsof
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The Economic Benefits of Oil and Natural Gas Production:
An Analysis of Effects on the United States and Major Energy Producing States

lumber,glass,concrete,handtools,architecturalservices,interiordesignservices,paint,plumbing,and
numerousotherelements.Eachofthesesuppliersmust,inturn,purchaseadditionaldollaramountsof
inputs.Thisprocesscontinuesthroughmultipleroundsofproduction,thusgeneratingsubsequent
incrementstobusinessactivity.Theinitialprocessofbuildingthefacilityisknownasthedirecteffect.
Theensuingtransactionsintheoutputchainconstitutetheindirecteffect.

Anotherpatternthatarisesinresponsetoanydirecteconomicactivitycomesfromthepayrolldollars
receivedbyemployeesateachstageoftheproductioncycle.Asworkersarecompensated,theyuse
someoftheirincomefortaxes,savings,andpurchasesfromexternalmarkets.Asubstantialportion,
however,isspentlocallyonfood,clothing,healthcareservices,utilities,housing,recreation,andother
items.TypicalpurchasingpatternsintherelevantareasareobtainedfromtheACCRACostofLiving
Index,aprivatelycompiledinterregionalmeasurewhichhasbeenwidelyusedforseveraldecades,and
theConsumerExpenditureSurveyoftheUSDepartmentofLabor.Theseinitialoutlaysbyarearesidents
generatefurthersecondaryactivityaslocalprovidersacquireinputstomeetthisconsumerdemand.
Theseconsumerspendingimpactsareknownastheinducedeffect.TheUSMRIASisdesignedtoprovide
realistic,yetconservative,estimatesofthesephenomena.

SourcesforinformationusedinthisprocessincludetheBureauoftheCensus,theBureauofLabor
Statistics,theRegionalEconomicInformationSystemoftheUSDepartmentofCommerce,andother
publicandprivatesources.ThepricingdataarecompiledfromtheUSDepartmentofLaborandtheUS
DepartmentofCommerce.Theverificationandtestingproceduresmakeuseofextensivepublicand
privatesources.

Impactsweremeasuredinconstant2014dollarstoeliminatetheeffectsofinflation.Notethattotals
maynotaddduetorounding.

TheUSMRIASgeneratesestimatesoftheeffectsonseveralmeasuresofbusinessactivity.Themost
comprehensivemeasureofeconomicactivityusedinthisstudyisTotalExpenditures.Thismeasure
incorporateseverydollarthatchangeshandsinanytransaction.Forexample,supposeafarmersells
wheattoamillerfor$0.50;themillerthensellsflourtoabakerfor$0.75;thebaker,inturn,sellsbread
toacustomerfor$1.25.TheTotalExpendituresrecordedinthisinstancewouldbe$2.50,thatis,$0.50+
$0.75+$1.25.Thismeasureisquitebroad,butisusefulinthat(1)itreflectstheoverallinterplayofall
industriesintheeconomy,and(2)somekeyfiscalvariablessuchassalestaxesarelinkedtoaggregate
spending.

AsecondmeasureofbusinessactivityfrequentlyemployedinthisanalysisisthatofGrossProduct.This
indicatorrepresentstheregionalequivalentofGrossDomesticProduct,themostcommonlyreported
statisticregardingnationaleconomicperformance.Inotherwords,theGrossProductofTexasisthe
amountofUSoutputthatisproducedinthatstate;itisdefinedasthevalueofallfinalgoodsproducedin
agivenregionforaspecificperiodoftime.Stateddifferently,itcapturestheamountofvalueadded
(grossareaproduct)overintermediategoodsandservicesateachstageoftheproductionprocess,that
is,iteliminatesthedoublecountingintheTotalExpendituresconcept.Usingtheexampleabove,the

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The Economic Benefits of Oil and Natural Gas Production:
An Analysis of Effects on the United States and Major Energy Producing States

GrossProductis$1.25(thevalueofthebread)ratherthan$2.50.Alternatively,itmaybeviewedasthe
sumofthevalueaddedbythefarmer,$0.50;themiller,$0.25($0.75$0.50);andthebaker,$0.50
($1.25$0.75).Thetotalvalueaddedis,therefore,$1.25,whichisequivalenttothefinalvalueofthe
bread.Inmanyindustries,theprimarycomponentofvalueaddedisthewageandsalarypaymentsto
employees.

ThethirdgaugeofeconomicactivityusedinthisevaluationisPersonalIncome.Asthenameimplies,
PersonalIncomeissimplytheincomereceivedbyindividuals,whetherintheformofwages,salaries,
interest,dividends,proprietorsprofits,orothersources.Itmaythusbeviewedasthesegmentof
overallimpactswhichflowsdirectlytothecitizenry.

Thefourthmeasure,RetailSales,representsthecomponentofTotalExpenditureswhichoccursinretail
outlets(generalmerchandisestores,automobiledealersandservicestations,buildingmaterialsstores,
foodstores,drugstores,restaurants,andsoforth).RetailSalesisacommonlyusedmeasureofconsumer
activity.

ThefinalaggregatesusedarePermanentJobsandPersonYearsofEmployment.ThePersonYearsof
Employmentmeasurerevealsthefulltimeequivalentjobsgeneratedbyanactivity.Itshouldbenoted
that,unlikethedollarvaluesdescribedabove,PermanentJobsisastockratherthanaflow.Inother
words,ifanareaproduces$1millioninoutputin2010and$1millionin2011,itisappropriatetosaythat
$2millionwasachievedinthe20102011period.Ifthesameareahas100peopleworkingin2010and
100in2011,itonlyhas100PermanentJobs.Whenaflowofjobsismeasured,suchasinaconstruction
projectoracumulativeassessmentovermultipleyears,itisappropriatetomeasureemploymentin
PersonYears(apersonworkingforayear).ThisconceptisdistinctfromPermanentJobs,which
anticipatesthattherelevantpositionswillbemaintainedonacontinuingbasis.

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The Economic Benefits of Oil and Natural Gas Production:
An Analysis of Effects on the United States and Major Energy Producing States

AboutThePerrymanGroup

ThisstudywaspreparedasapublicservicebyThePerrymanGroup(TPG),aneconomicresearchand
analysisfirmbasedinWaco,Texas.Thefirmhasmorethan30yearsofexperienceinassessingthe
economicimpactofcorporateexpansions,regulatorychanges,realestatedevelopments,publicpolicy
initiatives,andmyriadotherfactorsaffectingbusinessactivity.TPGhasconductedhundredsofimpact
analysesforlocalareas,regions,andstatesthroughouttheUnitedStates.Impactstudieshavebeen
performedforhundredsofclientsincludingmanyofthelargestcorporationsintheworld,governmental
entitiesatalllevels,educationalinstitutions,majorhealthcaresystems,utilities,andeconomic
developmentorganizations.

Dr.M.RayPerryman,founderandPresidentofthefirm,developedtheUSMultiRegionalImpact
AssessmentSystem(USMRIASusedinthisstudy)intheearly1980sandhasconsistentlymaintained,
expanded,andupdateditsincethattime.Themodelhasbeenusedinhundredsofdiverseapplications
andhasanexcellentreputationforreliability.

Thefirmhasalsoconductednumerousinvestigationsrelatedtotheoilandgasindustry.Theseanalyses
includeanassessmentoftheeffectsofoffshoredrillingfortheUSDepartmentoftheInterior,several
studiesofspecificproductionareas,majorpipelineandrefineryinvestments,publicpolicystudiesrelated
tooilandgasregulation,andprojectionsofnaturalgaspricesandoutput.Informationhasbeen
preparedfortheInterstateOilCompactCommission,theUSDepartmentofEnergy,theTexasRailroad
Commission,andnumerouslegislativecommitteesregardingenergypolicy.

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