May 8—The Permian Basin's energy industry is a very complex equation, but the region shows every sign of being well able to manage it.

That's part of what speakers at Wednesday's Texas Tribune forum on "West Texas: The State of Oil" in the Zant Community Room at the Saulsbury Campus Center at Odessa College where 40 people heard three experts on the subject.

Moderated by the Tribune's Basin correspondent, Carlos Nogueras Ramos, the noon luncheon featured Permian Basin Petroleum Association Executive Vice President Stephen Robertson, Midland Hispanic Chamber of Commerce CEO Savannah Morales and John Wood Group Director of Decarbonization Katherine Zimmerman of Houston.

The Texas Tribune is an online news outlet based in Austin.

Robertson began by noting that the Basin last year produced 42 percent of America's oil and 20 percent of its natural gas, meaning that if Texas were a nation it would be the fourth-largest oil nation in the world.

"Twenty years ago in this region, the joke was who will be the last to shut off the lights?" Robertson said, adding that the development of technology spawned the turnaround. "People thought we were at the end of our life.

"We've been producing oil and gas here for over 100 years and this is just a continuation of where we came from."

Robertson said the benefits that the Basin and the State of Texas derive from oil and gas are often expressed in terms of tax revenues and royalties, but that's missing a big part of the picture.

For example, he said the Saulsbury oilfield manufacturing company financed the construction of the Saulsbury Campus Center and Odessa oilman Kirk Edwards sponsored the D. Kirk Edwards Family Human Performance Center at the University of Texas Permian Basin.

"These things were only possible because of the Saulsbury family and Kirk Edwards," Robertson said. "Education will equip the next generation with the tools they need."

He said the world used the most energy ever last year and the Basin played a major role in supplying it. "This doesn't mean we're addicted to oil and gas," Robertson said.

"It means that energy makes people's lives better."

He said the oil and gas taxes from Southeast New Mexico, which is part of the Permian Basin, amount to half of New Mexico's state revenues and finance public school education, roads, health care and other benefits.

Morales said oil companies buy uniforms for youth sports and the industry supports mom and pop stores and other small businesses around the area as well-paid oilfield workers patronize them.

"The industry offers the opportunity to go from entry level to the CEO of a company," she said. "It touches every aspect or our lives."

Zimmerman said oil and gas in her view have two facets, energy security, providing clean, affordable, reliable energy, and energy transition, focusing on emissions.

"We work on the cheapest, most effective ways to reduce emissions," said Zimmerman, an engineer. "We ask where is the methane going and can we keep it inside the pipes?

"We have to figure out what makes the most sense for decarbonization."