Governor Greg Abbott has signed new laws to prevent oil theft and promote development in the Permian Basin.
MIDLAND, Texas — Texas continues to lead the nation in oil and gas production — with the Permian Basin alone generating nearly 40% of the country’s oil and 15% of its natural gas. That dominance is one reason Gov. Greg Abbott visited Midland on Thursday to sign a slate of new legislation aimed at strengthening protections and boosting growth in the region.
“These laws are bringing the full weight of the law to crack down on oil theft in the Permian Basin,” Abbott said.
The three new laws include:
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House Bill 48: Creates an Organized Oilfield Theft Prevention Unit within the Texas Department of Public Safety.
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Senate Bill 494: Forms a task force within the Texas Railroad Commission to study the economic impact of petroleum theft and suggest prevention strategies.
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Senate Bill 1806: Known by many as part of the Beacon initiative, it gives local law enforcement authority to inspect oil tankers and seize allegedly stolen petroleum products.
Abbott also signed Senate Bill 529, referred to as the “Economic Development Magnet,” which supports large-scale hotel and convention center projects in Midland in an effort to attract more visitors and businesses.
“S.B. 529 will help Midland boost hotel and convention projects and attract more tourists and businesses to your great city,” Abbott said. “It is now law in the state of Texas.”
The state is backing these efforts with $123 million in funding for the Beacon Alliance Project, which aims to build out a healthcare and higher education corridor between Midland and Odessa.
“This $123 million investment from the state demonstrates the commitment they have to our communities,” said Midland Mayor Lori Blong. “We’re so thankful for them putting their money where their mouth is.”
Donald Evans, former U.S. Secretary of Commerce and a key figure in the Beacon initiative, said the project is expected to transform the region.
“It will be a campus to further develop our education,” Evans said. “But we will bring world-class healthcare facilities to the Permian Basin.”
When NewsWest 9’s Camryn Leal asked what changes every day Texans can expect to see, Abbott pointed to the long-term vision of the project.
“One of the most measurable [changes] you’re going to see is slow-motion economic development in action,” Abbott said. “Whether it be hospitals going in, healthcare being provided, or better schools — it’s going to boost the entire region.”
All four bills go into effect Sept. 1.