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	DRAFT OF REMARKS TO DALLAS COUNTY YOUNG REPUBLICANS DALLAS TX MAY 11, 1989

(20 minutes)

Thank you, Lee (Sanders).

I want to talk to you today about the future of the Texas economy, especially in relation to the oil and gas industry. I want to leave plenty of time for questions, so I’ll keep my remarks short (Dad’s remark... best speech ever).

Texas economy improving:
— [Handwritten addition: Joke — It could be my money.]

Good reasons for the brighter outlook... but my optimism is for a diversified Texas economy, not another oil boom.

The price of oil has improved, but I personally am looking more toward natural gas for the future.

Natural gas is plentiful, clean... a good replacement for imported oil.

Once the gas deliverability bubble disappears, the industry will start growing again... Good news for Texas.

But the natural gas business won’t be enough to revive the entire state... Fortunately, it won’t have to.

The oil price collapse was rough on us all, but it has worked to strengthen the Texas economy.

A couple things happened when times got tough... Businesses restructured, became lean, efficient and competitive to stay alive.

And as oil profits plummeted, our economy began diversifying.

Entrepreneurs opened their own businesses and succeeded in expanding the state’s economic base.

Texas’ biggest asset is its entrepreneurs.

Hard to quantify, but we have more in Texas than anyplace in the world... the spirit that made Texas great.

In addition to restructuring and promoting entrepreneurship, Texas must work to continue to provide a good business climate... taxes low, regulations in check.

So what it comes down to is a three-pronged offensive for economic growth.

First, we need to continue restructuring existing businesses to become as competitive and efficient as possible.

Second, we need to encourage entrepreneurship [Handwritten addition: Story on how much is enough... “Pig trough”] Never discourage an entrepreneur.

Third, we must continue attracting out-of-state businesses and helping our existing businesses... The key is to keep the Texas business climate attractive.

But there’s no need for give-aways... With our low property costs, no state income tax and an abundance of good workers, we don’t need to subsidize business with taxpayers’ money.

If Texas has the leadership to pursue these three avenues, we will be the model for the entire country.

But it takes leadership... it takes effort... it takes involvement... and it takes a dedicated commitment to a unified set of goals.

Know that leadership occurs on all levels, including the civic level. Your getting involved and taking a leadership role in the community will build a better environment for all of us.

My thoughts on leadership are based on a simple philosophy that has served me well. It has helped in business, civic involvement and even with my family.

Learn to analyze well:
—Assess risks and prospective awards because there is no substitute for good research.

Be willing to make decisions. That’s the most important quality in a good leader:
—Avoid the “Ready-aim-aim-aim-aim” syndrome

Be a team player.

Be patient. I have to remind myself and our people at Mesa about the old adage “Patience is a great virtue.”

Be realistic... Dream, yes, but don’t be a day dreamer.

Learn from mistakes... that’s not just a cliche. Maybe the most important advice I give today is this:
“It’s all right to get your fingers crushed in the door, but don’t let the same door crush them twice.”

Stay fit... don’t want to get old and feel bad!

Practice moderation... balance family life and work; the key is organization... plenty of time for play, but plan it.

If you’re organized, you’ll find time for everything... take as big a bite of the apple as you want... that’s what’s great about America.

Keep success as well as failure in perspective, and most important... always play by the rules:
—Never think you have to cheat to win: don’t even need to bend your principles.

Like sports... Cheating to win is a hollow victory, at best... But most of all, you won’t feel good about yourself.

There’s a lot of talk about an ethics crisis in America:
—No ethics crisis... if anything, it’s a leadership crisis

It all goes back to the top.., must lead by example.

In a nutshell, if you work hard, analyze well, organize time and play by the rules, I promise you you’ll succeed and have a ball doing it.

Texans have demonstrated these attributes in the past, and I know they can be counted on in the future... to build a stronger Texas.

Thank you and now I look forward to hearing your questions.