HOUSTON – Texas Railroad Commissioner Ryan Sitton today addressed the Petrochemical Supply Chain and Logistics conference, North America’s largest petrochemical industry gathering. The conference is attended by hundreds of energy industry professionals actively engaged in the petrochemical space.
“Texas’ impact on global energy markets right now cannot be overstated,” Sitton said. “The things happening in Texas oil fields, processing plants and petrochemical facilities are reverberating around the world. For example, between 2011 through 2020, U.S. petrochemical capacity will have grown by 28 million tonnes. And since 2010, 325 projects cumulatively valued at almost $200 billion in capital investment have been announced, many of which are located along the Texas Gulf Coast. As oil and natural gas production continue to rise, more pipelines are built and ports expanded, and more petrochemical facilities start up, American energy is dramatically improving America’s trade deficits and enhancing our economic and national security. Every single Texan should be excited about these developments and Texas’ leadership in the global energy industry,” concluded Sitton.