The Texas House on Thursday approved a bill to establish a statewide task force aimed at cracking down on petroleum theft, a problem that鈥檚 cost the state鈥檚 oil and gas industry millions of dollars throughout the years.
Authored by Republican Sen. Kevin Sparks of Midland, would direct the Railroad Commission of Texas to oversee the task force, which would recommend solutions to address petroleum-product theft throughout the state. The group would be made up of industry stakeholders and law enforcement agencies.
The bill also mandates that the task force submit a report every two years outlining 鈥渞ecommendations to increase transparency, improve security, enhance consumer protections, prevent the theft of petroleum products, and address the long-term economic impact of the theft of petroleum products.鈥�
The Texas House passed SB 494 with a vote of 137-6; the bill previously cleared the Senate unanimously. The bill now heads to Gov. Greg Abbott鈥檚 desk for approval.
Petroleum theft has long plagued Texas, with the Energy Security Council estimating that up to 3% of all oil produced in the state was stolen in 2016 鈥� the most recent year with available data 鈥� translating to losses between $450 million and $1.5 billion. At the time, state lawmakers responded by for petroleum product theft.
If signed by the governor, the task force will operate, under the Railroad Commission鈥檚 oversight, until Dec. 31, 2030.
