09/14/2026
Guest Speaker: Mr. Tim Sicking, President & Owner of Quasar Energy Services
Speaker’s Presentation:
Tim updated the members on current energy conditions in North Texas and South Oklahoma. He also gave a wider view of the situation in our country and the world. The State of Texas is the undisputed leader in the US for energy production. Texas accounts for 40 percent of the total crude oil output in our country. Most of it is pumped from the Permian Basin in West Texas, using horizontal drilling and hydraulic fracturing technologies. What is lacking is the ability to refine the crude into the product we use. A majority of the refineries being used today were built in the late 1960’s and early 1970’s. The last US refinery built was in 1977. Texas crude is shipped to overseas refineries and once processed, returned to the US. China leads the world with the highest number of refineries. The profit margin for retail gas stations is substantial. There is a profit margin of 40 cents to 60 cents per gallon sold. Tim predicted the price of gas and diesel fuel along with the cost of fertilizer will continue to rise. The current uncertainty in the energy market is having a negative effect on the US economy.