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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: DinoNavarre who wrote (200627)	3/19/2020 6:28:00 PM
From: DinoNavarre	1 Recommendation Recommended By isopatch Respond to of 206169

To: DinoNavarre who wrote (200627)	3/20/2020 9:30:00 AM
From: DinoNavarre	1 Recommendation Recommended By isopatch Respond to of 206169

The Texas Railroad Commission, which regulates oil and gas production in the state, has the authority to set pro-rationing schedules, thereby limiting production for Texas producers. That power has not been used since 1973. In theory, Texas could cut production by 10%, and if Saudi Arabia is willing to cut production by 10% from its pre-pandemic levels and Russia is willing to do the same, it would return the market to pre-crisis levels (and only somewhat oversupplied). While Texas controls its destiny, it doesn’t control that of others. We would need our federal government, and our president, to make a deal that stabilizes oil markets.