March 22 — The crisis in the oil industry is so bad that Texas regulators are weighing whether to coordinate production cuts with OPEC. If they’re seeking advice, they should look no further than the man who first went to Vienna on behalf of the state’s oil industry.

In 1988, Kent Hance, a member of the Texas Railroad Commission, boarded a plane to meet with the Organization of Petroleum Exporting Countries. Back then, crude was trading in the teens, threatening the future of his state’s main industry.

— Bloomberg