What does "deregulation" refer to in Texas public policy?

Deregulation in Texas public policy involves reducing or eliminating government rules that govern various industries. This concept is rooted in the belief that fewer regulations can lead to increased efficiency, lower costs for businesses, and encourage competition. By removing these rules, the intention is often to foster a more free-market environment where businesses can operate with greater flexibility. This approach can stimulate economic growth and innovation, as companies can make decisions without as many regulatory constraints.

The focus on deregulation is particularly prominent in sectors such as telecommunications, energy, and transportation in Texas. For instance, in the electricity market, deregulation allowed consumers to choose their service providers, thereby increasing competition and driving down prices.

Other options presented in the question represent concepts that are contrary to the idea of deregulation. Increasing government regulations, promoting extensive government oversight, or establishing new regulations all imply a greater level of governmental control rather than the reduction or elimination of it, which is the core principle of deregulation.