The drought continues in Texas. As the concerned parties take stock of the situation, it becomes clear to Prodigy Oil and Gas CEO Shawn Bartholomae that the Texas petroleum business is doing and has done its part to help the state through its tough times.
Lawmakers in Texas had taken an unusual step in the passage of laws pertaining to a major issue. Usually when a state or body of lawmakers tackle an issue, they lay the money on the table and then start the processes to determine how the money will be divided among the various entities.
Shawn Bartholomae is aware of Proposition 13, passed in Texas, and reversed these steps. The laws, pertaining to water issues and how they might be best addressed and to what purposes the money will be spent was passed with no money in sight. A good sound body of laws that was far sighted enough to address the issues for decades was passed. Then came the money.
During the regular session, the Legislature passed several bills. These were designed to tap into surplus funds in what is called the Rainy Day Fund. Shawn Bartholomae is aware that this plan not only funded the water but generated a surplus of $900,000,000 to fund the State Water Plan, as well as other road, port and rail infrastructure projects desperately needed. The State of Texas is adding an average of 1000 persons a day to its population through imigration. The oil and gas industry forms the basis and support for the state’s rapidly growing economy.
The State Water Implementation Fund (SWIFT) that will contain $2.5 billion to fund projects in the State Water Plan;
Along with the funding of critical water projects, the industry is leading the way in innovation to preserve the water and to greately reduce the amounts of water needed for its own operations.