Which Texas regulatory board, established in 1891, is considered one of the most powerful state regulatory bodies in the United States because of its powers over the petroleum industry?

Question

Kylee Brooks

Business

30 January, 17:58

Which Texas regulatory board, established in 1891, is considered one of the most powerful state regulatory bodies in the United States because of its powers over the petroleum industry?

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Answers (1)

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Irvin Preston · Answer 1

The Texas Railway Commission

Explanation:

The Texas Railway Commission is an agency of the state of Texas. Headquartered in Austin, William B. Travis State Office Building. In Texas, the commission regulates the oil industry, the liquefied petroleum gas industry, coal mining and uranium mining. It had been supervising the railways until October 1, 2005, which was undertaken by the Texas Department of Transportation. It is the oldest regulator in the United States, established in 1891 according to the Texas State Legislative Council. From 1930, he established the international oil price until he was displaced by the Organization of Petroleum Exporting Countries (OPEC) in 1973. In 1984, the federal government gained competence in transportation and regulation of railways, trucks and buses, but continued to be called the Texas Railway Commission. With an annual budget of $ 79 million, its management focuses entirely on oil, gas, mining, LPG, oil and gas pipelines.