“Retribution-and-restitution regulations should be favored over command-and-control. Wherever possible, regulated entities should have the flexibility and authority to find ways to prevent bad outcomes, while still assuring liability for bad outcomes or behaviors.”

Regulations that are overly complex, outdated, and obscure typically favor large well-connected entities over smaller entities and the general public. Regulations that have been on the books for decades are obvious targets to be modernized, clarified, and in some cases eliminated. Texas Railroad Commission regulations are certainly in such a state. The Commission has been promulgating oil and gas regulations for a century now. A good house cleaning is certainly in order.

Regulatory reform should start by establishing a culture of review and regular procedures for ensuring continuous re-evaluation. A sunset review policy could target something like 10% of all regulations per year, starting with the oldest ones first.…

“Energy fundamentals explain why oil, gas, and coal brought an end to mankind’s renewable energy era. The same fundamentals explain why decreasing the market share of fossil fuels requires so much government intervention at the expense of consumers and taxpayers.”

The use of fossil fuels grew and remained widespread for several reasons. First, they are abundant. Vast amounts of living matter on the earth accumulated over eons of time. This accumulation, combined with the ever-active nature of the earth’s surface, meant that large volumes of ancient bio-matter were captured in the earth’s crust and transformed into fossil fuels.

Secondly, hydrocarbon compounds (those consisting mainly of carbon and hydrogen) are very chemically stable. Though these compounds might change form over long periods of time and under intense pressure and temperature beneath the earth’s surface, chemical stability preserves their inherent structure and subsequent energy content.…

“Mark Miller, the Libertarian Party candidate, has been endorsed by four major Texas newspapers. His campaign focuses on responsible fracking procedures, rights of surface property owners in drilling areas, and the need to rename the commission to the Texas Oil and Gas Commission.”

The misnamed Texas Railroad Commission (TRC), which actually regulates crude oil and natural gas production, may soon encounter significant change. Dr. Mark Miller, a Stanford University petroleum engineering PhD, former University of Texas professor, and oilfield entrepreneur is campaigning for a seat on the three-seat Commission.

Charged with the inherently conflicting goals of both promoting and regulating oil and gas in Texas, the Commission has long been a refuge for cronyism and aspiring politicians lacking any credible qualifications for the position. In its earlier life, TRC’s  “market proration authority” was used as a template by OPEC for international supply restrictions.…