CORPUS CHRISTI – On July 21, Texas Oil & Gas Association (TXOGA) hosted the Powering Forward – Texas Oil & Natural Gas virtual summit to update the public about the state of the energy industries in Texas.
The summit had more than 1,000 participants watching the nearly three-hour video conference with featured speakers such as Texas Gov. Greg Abbott who was on hand to give an update on the COVID-19, oil and gas.
“We’re getting back up and running again,” Abbott said. “We had two cataclysmic events come together, there was the pandemic and then what happened with regard to Saudi Arabia and Russia.”
Earlier this year the two countries refused to cut oil production and triggered a price war that caused gas prices to drop, the price of barrels of crude to drop into the negatives for the first time in recorded history and the stock market crashed.
Abbott was one of the first to get “heavily engaged with the White House and with the President himself” to make sure they knew the importance of oil in Texas, and he was a key figure in ongoing talks.
“The other thing that we need in order to increase the production of oil and gas is to have stabilization in the price of oil,” Abbott continued. “What is needed is more people using energy, and what is going to get more people using energy is a stabilization of the pandemic.”
He said he’s been spending about 90 percent of his time trying to stabilize the pandemic as numbers go up and down across the state.
“It’s always a moving target and as a result, our response has to evolve and change,” he added.
Abbott said that when masks are used and social distancing is followed, studies show the number of cases drop almost immediately.
“We need everyone adopting these best practices to prevent the spread of COVID-19,” he continued. “If we do that, we will make sure that our businesses remain open, our economy remains robust and that we will be able to go about our lives in a normal fashion.”
Paul Gonzales is a reporter at The News of San Patricio and can be reached at 361-364-1270, or by email at email@example.com.