Concern has grown as reports of oilfield theft continue to increase.
Texas Alliance of Energy Producers President Karr Ingham, a petroleum economist and appointee to the State Task Force on Petroleum Theft, shared a preliminary industry estimate indicating that oilfield theft has a staggering $4.3 billion economic impact on Texas.
That concern prompted the Texas Legislature to create the State Task Force on Petroleum Theft, overseen by the Railroad Commission of Texas. The Texas Department of Public Safety’s Oilfield Theft Task Force also investigates theft of everything from tubing to trailers to crude oil itself…