Texas Oil & Gas Association

Yesterday, TXOGA Chief Economist Dean Foreman, Ph.D. participated in a dynamic panel discussion at Rice University's Baker Institute Center for Energy Studies (CES). Joining him were Toril Bosoni from the International Energy Agency (IEA) and Claudio Galimberti of Rystad Energy, with Mark Finley serving as expert moderator. The session focused on the oil market outlook for 2025 and beyond, drawing a live audience of 200 attendees and an additional 250 participants online. It was an insightful exchange of ideas about the global oil landscape and its future. If you missed it, you can watch the full session on YouTube here: https://lnkd.in/gsjJq7_Y

Texas oil and natural gas operators have extensive resources in place to ensure they are #WinterReady – from monitoring and preparing for inclement weather on an ongoing basis to utilizing best practices and operational plans in order to maximize product flow.

TXOGA President Todd Staples issued a statement following the release of the U.S. Department of Energy (DOE) report on the impact of LNG exports, in which he said in part: “The DOE’s latest report affirms what we have long known—that U.S. LNG exports are essential to meeting the world’s growing energy needs. The Biden Administration’s pause on new LNG export approvals has only undermined global energy security at a time when it is needed most. “Contrary to claims by the DOE that U.S. LNG exports could raise prices for domestic consumers, independent studies—including an analysis by TXOGA’s Chief Economist Dean Foreman, Ph.D.—have shown that U.S. LNG exports have not had any sustained and significant direct impact on U.S. natural gas prices and have, in fact, spurred production and productivity gains, which contribute to downward pressure on domestic prices. These exports not only strengthen the U.S. economy but also advance environmental progress and deliver critically needed energy security to our allies abroad. “We again call on the Administration to lift the pause on new LNG export approvals. Texas and the U.S. must remain a reliable and growing provider of the affordable, reliable energy that fuels modern life and ensures energy security for our nation and its allies.” Read the full statement: https://lnkd.in/g_VBRntB

Get the full Texas Energy Day experience on February 4, 2025! From the Morning Speaker Series to Lunch on the Capitol Lawn, visiting legislative offices to share the positive story of oil and natural gas, and hearing about the top industry issues at the Legislative Energy Briefing—this day is packed with opportunities to network, learn, and advocate for the future of energy. Register today to join us: https://lnkd.in/eAHuKp7

Tune into the #WinterReady episode of TXOGA Talks to learn how record natural gas production, investments in infrastructure, and an abundance of natural gas storage all contribute to supporting the state’s electric grid. Listen now: https://lnkd.in/gn4t2tFJ

At this year’s Lone Star Energy Forum put on by the Texas Oil & Gas Association (TXOGA), our CEO, John Christmann received the Distinguished Service Award, which recognizes high-impact leaders for their grit, determination and forward-thinking mentality. The award highlights his more than three decades of service to furthering oil and gas development in Texas and abroad. Join us in congratulating John on this achievement and read more here: https://lnkd.in/gSukP_hw

 🔮 TXOGA’s Quarterly Energy Economics Outlook: Q4 2024 TXOGA’s Quarterly Energy Economics Review for Q4 2024 is live, along with my latest article, “Texas Anchoring Energy and Economic Stability in 2025 and Beyond,” which explores trends shaping the year ahead. Highlights 🔹 Solid economic growth. The economic growth outlook remains optimistic, suggesting that consecutive annual global records for oil and natural gas demand are likely in 2025 and 2026, even if growth falls short of official projections. 🔹 Oil supply remains strong, with the U.S.—led by Texas and the Permian Basin—leading. Additionally, several non-OPEC conventional projects appear poised to add supply in 2025 and 2026. OPEC+ policy could therefore be consequential. 🔹 Productivity gains. Drilling, completion, and automation innovations have continued to increase rig productivity, which has improved resource recoveries, driven efficiency, and reduced costs. 🔹 Geopolitical, trade and policy risks loom. A historically strong U.S. dollar coupled with proposed tariffs on BRICS nations and Mexico raise challenges and opportunities, particularly for Texas’ energy, plastics, and manufacturing sectors. Why It Matters Texas accounts for over 43% U.S. crude oil production and 29% of natural gas output. Continued output growth and innovation support the U.S. economy and global markets. However, if economic competition among major economies intensifies and global trade policies markedly shift, Texas’ cross-border supply chains and export competitiveness face uncertainties that could impact consumers and the future path of domestic industry investments. Looking Ahead Entering 2025, policy developments intended to protect domestic industries must also safeguard the long-term competitiveness of the energy and manufacturing sectors. This will require continued energy innovation, global collaboration, and cogent policy support for the industries that power our economy. For further insights, please see TXOGA’s Q4 Energy Economics Perspective and Outlook presentation: https://lnkd.in/eS5sqZqv #EnergyEconomics #Innovation #Productivity #NaturalGas #CrudeOil

Texas’ vast system of pipelines can safely move more natural gas and other products from the wellhead to storage and from storage to power plants than ever before, making sure as cold weather moves in, Texas is #WinterReady. Learn more: https://lnkd.in/gDth5UEA

Texas' oil and natural gas industry is committed to taking steps to prepare for weather events to ensure reliable oil and natural gas production and transportation no matter the weather. Thanks to reliable strategies and procedures, operators will keep product flowing to ensure that Texans stay warm this winter. Read more: https://lnkd.in/eRwC-i23 #WinterReady

Check out the latest Energy Economics Perspective for Q4 2024 by TXOGA Chief Economist Dean Foreman, Ph.D. which delves into the latest insights from weekly, monthly, and quarterly monitoring and analyses of economic and energy markets. Read more: https://lnkd.in/gMR2WUUn