September 1, 2015
During the plunge of energy prices we've seen for more than a year, the government of Saudi Arabia chose to keep production levels high, apparently in the belief that flooding the world with cheap oil would bring an end to America's shale revolution. It didn't work, however, and Texas in particular has gained valuable energy capabilities and expertise that aren't going away. Our state is poised to maintain and expand its dominant position in national and world energy markets. I recently wrote an article for the Wall Street Journal discussing the Saudis' gamble; subscribers can read it in today's issue.
Thank you for all you do for Texas, and God bless,