Cheap and abundant energy has fueled our economic growth and job creation over the last century--continuing this growth in the future depends upon sustaining the availability and low cost of energy resources. Texas is at the heart of a resurging energy economy all along the Gulf Coast.
Today, we look to the job creators of Texas to tell their stories about what policies have been successful and how their focus on fostering energy production has made Texas a magnet for new residents and businesses from across the country and around the world.
The Lone Star state ranks number one in crude oil production and refineries in this state account for one-fourth of total U.S. refinery capacity. This state produces some 30 percent of our natural gas supply. The Eagle Ford Shale here in South Texas has seen an boom in production--and this production can be replicated in other sites around the country, with a corresponding boom in other state and local economies.
U.S. states are incubators for policies that have the potential to create jobs and grow the economy on a larger, national scale. With this field hearing, we hope to learn the secrets to Texas' success, and how other states can replicate this boom, benefitting job creators and entrepreneurs while delivering the cheap and abundant energy that our economy demands.