Houston Daily

Governor Greg Abbott has enacted several pieces of legislation aimed at bolstering Texas' oil and gas industry and fostering economic growth in West Texas. The signing took place at the Permian Basin Petroleum Museum, where Abbott highlighted the significance of these laws for the region's future.

"Today is a defining moment for the Permian Basin, the future of this region, and the future of Texas," Governor Abbott stated. He emphasized efforts to curb oil theft in the Permian Basin, which he described as crucial to maintaining energy development's role in supporting the economy. Abbott also announced a significant investment: "I'm also signing an item to fund an historic $123 million investment in The Beacon, a pivotal economic development project for Midland-Odessa."

The new legislation addresses organized crime activities targeting oil pipelines and storage tanks, which have resulted in substantial financial losses for communities within the Permian Basin. Senate Bill 494, Senate Bill 1806, and House Bill 48 aim to tackle petroleum product theft and safeguard Texas' energy sector.

Additionally, Texas is investing in regional development through The Beacon project. This initiative involves a $123 million appropriation intended to improve healthcare access, education opportunities, and provide residential and retail space to accommodate population growth.

The ceremony was attended by notable figures including former U.S. Secretary of Commerce Don Evans, Railroad Commissioner Christi Craddick, Senator Kevin Sparks, Representative Tom Craddick, Representative Brooks Landgraf, Midland Mayor Lori Blong among others.

Senate Bill 494 establishes a task force dedicated to combating petroleum product theft. Senate Bill 529 modifies tax regulations for Midland City to support economic projects. Senate Bill 1806 enhances tools available to the Texas Department of Public Safety (DPS) against oil theft. House Bill 48 forms an organized unit within DPS focused on preventing oilfield thefts.

The Beacon Budget Appropriation was allocated by the Texas Legislature through the Texas Facilities Commission with goals that include expanding healthcare services and developing research facilities along with residential areas.