The Texas oil and natural gas industry paid more than $16 billion in state and local taxes and state royalties in fiscal year 2019.
In fiscal year 2019, Texas school districts received $1.54 billion in property taxes from mineral properties producing oil and natural gas, pipelines, and gas utilities.
In fiscal year 2019, Texas counties received $398.7 million in oil and natural gas mineral property taxes.
In fiscal year 2019, The Texas Permanent School Fund is the largest educational endowment in the nation, largely thanks to roylties and tax revenue generated by the Texas oil and natural gas industry. In fiscal year 2019, the Texas Permanent School Fund received $1.11 billion from oil and natural gas royalties.
In fiscal year 2019, the Texas Permanent University Fund received $1.02 billion from oil and natural gas royalties.
Since 2007, the oil and natural gas industry has paid more than $149 billion in state and local taxes and state royalties. That’s money that benefits every Texan – whether you live near the oil patch or not.
U.S. energy leadership has been a priority of every one of our last seven presidents, Democrat and Republican.
Proposals to eliminate the Texas oil and natural gas industry are out of step with bipartisan support for an all-of-the-above energy approach.
Banning fracking would set America back by returning us to the days of relying on foreign energy.
More than 86% of Texas’ energy needs are met by oil and natural gas.
In Texas, emissions have declined by 74% across the state since 1990, while GDP has nearly quadrupled.
Texas families and businesses saved more than $119 billion between 2008 and 2018 thanks to abundant, affordable natural gas.
Texas households saved over $9.3 billion – or $282 per resident – between 2008 and 2018 thanks to abundant, affordable natural gas.
Texas industries, including aerospace operations and petrochemical and steel manufacturing facilities, saved more than $101.5 billion between 2008 and 2018 thanks to abundant, affordable natural gas.
Other than interest from the Rainy Day Fund itself, 100% of the money in the multi-billion-dollar Fund comes from taxes paid by oil and natural gas companies.
The Texas oil & natural gas industry is investing untold time, talent & treasure in Texas schools, students & teachers through innovative education programs & productive partnerships providing a state-of-the-art education for the next generation of Texans.
94% of Texas voters believe it is important to keep energy and gasoline prices affordable.
94% of Texas voters believe it is important to produce enough energy so the U.S. is not as reliant on other countries for oil.
83% of Texas voters support congressional action to invest in energy infrastructure to increase the production and distribution of domestic energy.
70% of Independent Texas voters think natural gas and oil will be a significant part of America’s energy needs 20 years from now.
74% of voters in Texas, including 65 percent of Democrats and 71 percent of Independents, believe the natural gas and oil industry will have an important role in helping the economy recover from the economic impact of the coronavirus pandemic.
86% of Texas voters think natural gas and oil provide a value to their life.
72% of Texas voters agree that our country’s national security has increased because America is producing more natural gas and oil.