(Bloomberg) -- The Texas oil regulator who was among the first to float the idea of OPEC-style supply limits in the Lone Star state now says he has “many reservations” about such measures.
Texas Railroad Commissioner Ryan Sitton said he's not advocating for so-called pro-rationing of oil production but instead only wants the three-person agency to consider it. His remarks come a day before the commission is scheduled to debate imposing output caps for the first time in almost half a century.
“While I have been public about my thoughts that Texas should take a lead role in this conversation, I still have many reservations, and I will be examining heavily if and how pro-ration could be done,” Sitton said in an email Monday.
Sitton echoed fellow Republican commissioners, Chairman Wayne Christian and Christi Craddick, who struck a more conservative tone when the idea of pro-rationing was first raised.
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