Cringing over Craddicks’ conflicts, but seeing hope at SXSW and CERAWeek

A weekly newsletter on money, politics and life in Texas. [San Antonio Express-News - Header Logo]( [View in browser]( BEST OFFER OF THE YEAR: 6 Months for 99¢! For a limited time, save on unlimited digital access. [Subscribe Today.]( [Inside a family empire]( A state oil and gas regulator and her father, who chairs the Texas House’s energy committee, made $10 million last year from oil and gas interests over which they hold various degrees of governmental control, [a Texas Monthly investigation uncovered](. [I’ve written in the past about Railroad Commissioner Christi Craddick and State Tom Craddick, R-Midland,]( but my friend and former Wall Street Journal reporter Russell Gold dug through dusty public records to push the story forward, piecing together “royalty data from 41 county tax offices from Laredo to Lubbock and San Angelo to Van Horn,” he wrote. Let’s be clear here: The Craddicks did not break the law. And their substantial financial conflict of interest is invisible in the mandatory – but virtually toothless – personal financial statements filed by Texas public officials. Gold and I talk a lot about the Texas energy business and share rumors about how politicians extract payments from the companies. I’m always shocked by the myriad ways Texas ethics laws allow politicians to hide their conflicts of interest and how only bald-faced bribery constitutes an infraction. At the Railroad Commission, Christi Craddick has ruled repeatedly on disputes involving companies in which she has a financial interest. In the Legislature, Tom Craddick has introduced bills that would benefit him financially. Under current Texas law, all of this is acceptable. The Craddicks are not exceptional. I’ve also written about another Railroad Commissioner, [Wayne Christian, overruling his staff to approve a project proposed by a hometown company.]( The owners repaid the favor with a $100,000 campaign contribution. Rumors swirl around dozens of other politicians, both Republican and Democrat, but there are neither enough journalists nor hours in the day to chase down all of the leads. And even if the tips do pan out, Texas law is so vague and weak that a blockbuster story rarely makes a difference because the perceived corruption is usually legal. Texas voters care more about party than honesty. They reelected Attorney General Ken Paxton after his closest aides reported him to the FBI for alleged corruption. Now, [Paxton is trying to convince lawmakers to pay off his former aides](, so they drop their wrongful termination lawsuit. Our state needs wholesale ethics reform. But as history showed with the [Sharpstown scandal](, it won’t happen until we have a massive corruption case that no one can ignore. [Chris Tomlinson Headshot] Chris Tomlinson Business Columnist What Else I'm Writing [Story photo for Magic mushrooms offer health and profit]( Photo: Richard Vogel, Associated Press [Magic mushrooms offer health and profit]( Oregon legalized medical psilocybin this year, and Colorado has decriminalized possession of psychedelics, reducing the charge to a ticket. Now Texas is considering authorizing the medical use of psychedelics. [Story photo for Hydrogen and geothermal steal show from Big Oil]( Photo: Michael Wyke, Contributor [Hydrogen and geothermal steal show from Big Oil]( The biggest revelation at CERAWeek 2023 was the low turnout for the oil and gas CEO speeches and the standing-room-only crowds for clean technology entrepreneurs. What I'm Reading Must Read: How committed is Biden to phasing out oil? ([Houston Chronicle]( and [San Antonio Express-News]() Should Read: As Texas pushes to ban delta-8, it's squaring off with the drug's biggest proponent: the VFW ([Houston Chronicle]( and [San Antonio Express-News]() Interesting Read: Migration numbers not affected by policy, news coverage ([San Antonio Express-News]( and [Houston Chronicle]() Technical Read: [Racial and Gender Pay Scorecard]( (Arjuna Capital and Proxy Impact) Fun Read: [Ke Huy Quan’s True Hollywood Comeback]( (Vanity Fair) Question of the Week Do financial disclosure laws go far enough to prevent corruption? Reply directly to this email and tell me your thoughts. Mailbag Last Week’s Question: Do you think news organizations should cater to readers’ views? “News organizations should only focus on reporting the truth. That is what people need.” –Rosalind Wilkins Haith, Houston “That's hard for me to answer, depending upon the definition of a news organization. For general/mainstream orgs (say, Ex-News, Chron, NYT, WSJ) - no. For niche organizations (many of which are aggregators rather than producers) - it's OK.” –Allen Walker, San Antonio “I have no objection to organizations promoting a particular point of view as long as they begin with facts and figures. If they THEN attempt to sway me to a point of view, I don't mind because it's my decision to believe it or not. From what I hear and read (I don't watch Fox News and haven't since 2015), Tucker Carlson flat-out lied. I don't know how a ‘journalist’ can live with himself, especially after having been caught lying.” –Evelyn F. McClain, Houston “A journalist's only duty is to follow the facts and tell the truth.” –Robert Miller, The Woodlands “Don't even think about going there!! Keep writing just as you have; readers ain't always rite.’” –Tip Smith, Nacogdoches “No, I don’t think news organizations should give customers what they think they want. I have boycotted Fox since 2016; in fact, I even boycotted the other Fox organizations in spite of my anguish at not being able to watch the World Series because it was only shown on the channel.” –Mary Honomichl, Houston The Takeaway My version of March Madness is attending the oil and gas confab CERAWeek in Houston and then going straight to SXSW in Austin. So many smart people share so many smart ideas; they give me hope. I’m not talking about Big Oil’s top executives or the industry lobbyists squaring up against efforts to fight climate change. Those people abound, even in Austin. But I learned in Africa that it’s too easy for destroyers to take up all the attention. Following a brutal battle in Zaire, now Congo, I saw civilians who themselves had suffered don smocks bearing huge red crosses. The Zairois Red Cross symbol was their only defense as they ventured onto the battlefield to alleviate suffering. They treated the wounded, buried the dead and restored vital services. They didn’t carry weapons or demand my attention. They did what was necessary. I realized then how little attention we pay to the quiet yet courageous people who selflessly dedicate themselves to making conditions better for their community. Most businesspeople start their enterprises to solve societal problems. If they can profit a little, their effort is sustainable. I saw dozens of young, aspiring entrepreneurs who want to solve the climate challenge over the last two weeks, and they have some very clever ideas. I plan to highlight their efforts in the coming months while still holding those with power and privilege to account. I hope you’ll enjoy both storylines. Share With Your Friends Do you know someone who would like Tomlinson's Take? 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