During the last few years, the Permian Basin has literally led the way in fueling our state economy.
Even so, it seems at times, despite the tremendous contributions in production and revenue generated by the area, we are often overlooked by state leaders due to the excitement and activity being reported on regarding new shale plays in the state.
The goal of the Permian Basin Coalition is to better educate ourselves about the energy industry and what we might expect over the coming years, share data as to the economic impact of the Permian Basin to the State of Texas, as well as, our local areas, get an update on legislative items of potential impact to our area, discuss the infrastructure challenges we face due to the increased activity, and talk about ways we may be able to work jointly going forward to ensure a brighter and more successful future for the entire Permian Basin.
The Permian Basin Region consists of 59 Counties in Texas with a population of over 1.25 million. Since the early days of petroleum exploration in Texas, the Permian Basin has produced the lion’s share of crude oil and associated energy revenues that have provided for substantial investment in this state.
And the State of Texas has readily consumed those revenues, with little or no thought of making an investment in the area that has produced them. The Permian Basin must be proactive and work diligently to address the challenges faced here at home. Crashes and fatalities on our roads and highways clearly demonstrate the deficiencies in our transportation infrastructure, drought coupled with increased water demand has led to rationing of water resources, the tremendous demands on housing have driven real estate costs to all time highs. State and area leaders need to be ever mindful that investment of revenues to provide for continued, long term economic growth is just as important, if not more so, than present day desires for consumption.