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Texas Was The Model For OPEC, But It's 'Not Likely' To Limit Oil Production Now
NPR: In Texas, a proposal to cut the amount of crude that oil companies are allowed to pump from the ground appears dead. The regulator who proposed it — Texas Railroad Commissioner Ryan Sitton — says commissioners "still are not ready to act" on the plan, which would have cut production 20% to try and stabilize prices amid a historic oil glut. Regulators had been expected to vote on the plan Tuesday.
Oklahoma and North Dakota have also been debating production limits. In Alaska, the private company that runs the Trans-Alaska pipeline has already imposed a ten percent cut in oil production from the state's North Slope.
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