The Fort Worth Chamber’s Energy Council launched its 2026 programming with a well-attended breakfast meeting featuring Garrett Golding, Assistant Vice President for Energy Programs at the Federal Reserve Bank of Dallas. The event marked the Energy Council’s first gathering of the year and Golding’s second time visiting with the group, continuing a valued dialogue between the Dallas Fed and Fort Worth’s energy leadership. 

Regional Energy Insight from the 11th Federal Reserve District 

Golding opened with an overview of the Federal Reserve’s regional structure and the unique role of the 11th Federal Reserve District, which covers Texas, northern Louisiana, and southern New Mexico. Because of the region’s scale across oil and gas production, power generation, refining, and renewables, the Dallas Fed plays a leading role in the Federal Reserve System’s understanding of energy markets. Golding shared how the Dallas Fed combines economic research with real-world industry engagement, including its quarterly Energy Survey and the recently launched Center for Energy and the Economy. 

Economic Overview: Inflation, Labor Markets, and Growth Trends  

From a national perspective, Golding framed the current economic environment around three core indicators: inflation, labor markets, and growth. He noted that inflation has eased from recent highs but remains above the Fed’s long-term target, with housing costs cooling while service-sector inflation, such as insurance and dining, remains more persistent. On employment, he described a labor market that has clearly cooled from the post-pandemic surge but is not showing broad signs of distress. 

Turning to energy markets, Golding discussed global oil balances and shared that current consensus points toward oversupply extending into 2026, contributing to moderate price conditions. He also referenced insights from the Dallas Fed Energy Survey, highlighting how break-even prices and capital planning assumptions vary widely across operators, reflecting the diversity of cost structures and strategies within the sector. 

Power Demand & Data Centers: Texas at the Forefront  

A significant portion of the discussion focused on electricity demand and the rapid growth of data centers. Golding noted that forecasts for power demand tied to AI and data infrastructure differ dramatically, but that the pace of growth will ultimately depend on how quickly new generation and transmission can be built. He shared that access to electricity is increasingly shaping where data centers are built, positioning Texas as a major beneficiary of this trend. 

The Fort Worth Chamber’s Energy Council is co-chaired by Ryan Haggerty (RHR Oil & Gas), John Vallance (Whitley Penn), and Jared Clarke (Forza Resources). Additional Energy Council events are currently in development, with plans to welcome more special industry speakers throughout 2026.