2006-09-22 02:24:33 · 3 answers · asked by kingpaak19 1 in Arts & Humanities ➔ History
The Texas Railroad Commission is a 3-member State of Texas agency that has the power to regulate oil and gas production in Texas, as well as other energy-related mineral production, mostly coal and lignite.
The true power of the RRC is in its ability to regulate the cost of oil and gas by regulating the amount of petroleum and natural gas that is extracted under the guise of maximizing recovery.
An interesting aside is that a former student from the University of Texas, whose father was the oil minister for Venezuela [major oil producing country], worked at the RRC and told his dad about the regulation of oil prices through the regulation of production rates. Based on this information, Venezuela took the lead in creation of OPEC - the Organization of Oil Exporting Countries.
2006-09-22 02:53:46 · answer #1 · answered by Prof. Cochise 7 · 1⤊ 0⤋
Do you mean the Texas Railroad Commission?
2006-09-24 14:20:56 · answer #2 · answered by Chrispy 7 · 0⤊ 1⤋
rewrite yourquestion inyournative language.
2006-09-22 09:37:31 · answer #3 · answered by cdrfish7 1 · 0⤊ 2⤋