Some old-guard Texas oil drillers are urging state regulators to clamp down on crude production to halt a price collapse more severe than any of them have ever lived through. (Bloomberg) — Some old-guard Texas oil drillers are urging state regulators to clamp down on crude production to halt a price collapse more severe than any of them have ever lived through. The largest U.S. oil-producing state hasn’t restricted crude production in almost 50 years but a growing chorus of explorers and related industries are advocating just such a move. The Texas Railroad Commission that has overseen the state’s industry for more than a century is scheduled to discuss so-called pro-rationing on April 14. Closely held Texland Petroleum LP has already begun to reduce output as buyers cancel contracts and prices crater. By May 1, President Jim Wilkes expects every one of his 1,211 wells to shut down. With […]