Energy Intelligence notes that "the regulator...>

OIL: Energy Intelligence notes that "the regulator in charge of Texas crude

production is unlikely to vote on a controversial proposal to limit production

from the state this week even as US crude prices plunge into -ve territory.

Sources tell Energy Intelligence that it is highly unlikely that members of the

RRC will vote on a plan to mandate oil production cuts in the state at closely

watched meeting Tuesday. The commissioners are torn between their desire to do

something quickly to help the industry & hesitation that the wrong move could

make matters worse. Politically, the move would be suicidal in some circles as

it would turn back decades of "free market" fist-pounding by the industry and

Texas gov't. But more than that, there are reservations on whether the RRC's

revival of an authority not used since the 70s would actually benefit producers

today... Even if there is agreement among the commissioners, procedurally it

might be tough to get to a vote. The commission cannot meet privately to discuss

state business unless it occurs during an executive session, a period set aside

during each meeting for the three commissioners to address matters on the

scheduled meeting agenda. The RRC's next scheduled meeting is May 5."