MIDLAND, Texas — Hundreds gathered for the 2022 State of Oil & Gas Luncheon Wednesday. The goal of the event was to inform those directly and indirectly impacted by the oil and gas industry about where it stands and where it will go from here.
"What we do enables human progress," said Ryder Booth, the Keynote speaker for the event.
In some way or another, everyone that lives in the Permian Basin is impacted by oil and gas.
President and CEO of the Midland Chamber of Commerce, Bobby Burns, said, "[This event is] laying out the importance of the Permian Basin, how critical it is to the nation's economy and the global economy."
Booth, who is with Chevron, spoke about how the industry here is making impacts worlds away, and it's not slowing down anytime soon
"Population growth, income growth are very powerful demand drivers that will propel our overall business going forward," said Booth in his speech.
"He really painted a picture about the overwhelming push that's going to occur in the next 20 years," said Burns.
Even though the future for oil and gas is bright, there are still some improvements and changes that can be made.
"The oil and gas industry is taking a good look at the flaring, at the water usage, at the injection, and every facet, because they're clearly aware of all the factors that go into it," Burns said. "I think Chevron, I think Diamondback and all of these companies are taking a look at every piece of it and are trying to do the right thing."
In conjunction with a growing industry, it's important that the city grows too.
"The oil and gas industry is strong on its own, but for this community to attract people to live out here, we have to improve the quality of life," said Burns.
With oil and gas projected to continue to be the main source of energy, the Permian Basin's industry, economy, and population will grow.