Why a Texas Oil Regulator Could Play the Role of OPEC

Oddly named and highly powerful, the Texas Railroad Commission is weighing whether the state should curb crude production for the first time in almost half a century. At issue is one of the worst price collapses in decades, which has left the Texas oil and gas industry in tatters. Unusual for a state-level agency, the commission suddenly finds itself integral to national and even international energy policy.