Clements ran for reelection in 1982 but was defeated by Democratic Attorney General Mark Wells White by more than 327,000 votes because of sagging economic indicators and weak support from minority voters, who historically support Democratic candidates. Clements was also damaged politically by the Ixtoc I oil spill disaster; the rig that failed was owned by SEDCO, but leased to Permargo (a Mexican drilling firm), which had an exploration contract with Pemex, despite his shares in SEDCO being held in blind trust at the time; his opponent, White, as attorney general, led the state's lawsuit against SEDCO. White received 1,697,870 votes (53.2 percent) to Clements's 1,465,537 (45.9 percent). In addition, the Republican down-ballot candidates were all defeated in 1982, including George Strake Jr., a Houston businessman who had been Clements's former secretary of state. Strake ran for lieutenant governor against the incumbent Democrat, Bill Hobby. After the 1982 campaign, Strake was named to replace Chet Upham of Mineral Wells as the Republican state chairman, a position that he filled from 1983 to 1988.