The state agency that regulates the oil and gas industry is discussing the possibility of cutting oil production in Texas. The Texas Railroad Commission met on Tuesday to talk about reducing production in the state for the first time since the 1970s. Crude prices have fallen to 20-year lows, throwing thousands of oilfield workers out of a job. Some independent oil producers are urging the commission to cut production in order to shore up prices. Other don't like the idea of interfering in the free market. The commissioners meet again next Tuesday to discuss the matter further.