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Energy crunch harms independents and co operatives in Texas
A Texas meeting of independent oil association reps and Texas Electric Rural Cooperative Association members highlighted shared energy problems. Since 1954 the FPC price controls froze wellhead gas at 16.5 cents, delaying hearings and chilling drilling. Independent operators fell from 20 000 to under 10 000 between 1954 and 1974 as exploration slowed.
MENTIONED IN THIS ARTICLE
Independent Oil Association
Texas Electric Rural Cooperative Association
Austin
Supreme Court
Phillips
Federal Power Commission
FPC
Mike Halbouty
Wm. J. Murray
The
Permian Basin Petroleum Association
Independent
Canada
Mexico
EPA
FEA
OSHA