Texas Railroad Commissioner Ryan Sitton thinks it’s important to put the current crisis facing the oil industry into context.
Around 1975, the oil and gas market was the most over-supplied it has ever been, Sitton said Friday in an interview with the Dallas Business Journal. During that time, the market was over-supplied by 5.7 percent. Currently, the market is speculated to be nearly 15 percent over-supplied.
“It’s important to recognize that we are in truly exceptional times,” he said.…
The system, known as NeuFuel, differs from compressed natural gas because it can be used at a lower pressure than CNG.
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