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As congressman, 1876-1887, sponsored bill creating Interstate Commerce Commission; resigned 1891 from United States Senate to head newly-formed Railroad Commission, modeled after I.C.C., and created to regulate shipping rates and practices. In his term, 1891-1903, railway transportation of petroleum became important in Texas, the Commission was given jurisdiction in 1917 over pipelines. This led to formation of the oil and gas division. The Legislature made the Commission responsible in 1919 for oil and gas conservation. Probation began in 1920s. Complete regulation came in the 1930s with 1,700,000-barrel-a-day production in East Texas. Commission policies were acclaimed when in World War II Texas was able to supply the allies with great stores of oil necessary for victory. The Commission's goal is to prevent waste and protect oil and gas reserves by orderly regulation of exploration, production and transportation. Such men as chairman Reagan have set high ethical standards that have continued in the Commission, causing it to merit the confidence of the people and of the petroleum industry. Commemorative series on Texas Railroad Commission. Erected in Cooperation with Abell-Hangar Foundation, 1966. |
