Better.
Texas is the #1 producer of oil and natural gas in the U.S., providing energy independence and national security. Oil and natural gas activity benefits every Texan – whether you live near the oil patch or not. The impact oil and natural gas activity has on the wellbeing of our state is incredible.
Education
Since 2009, Texas oil and natural gas producers have paid, in addition to their production taxes, $19.8 billion to the State of Texas in royalties, about 98% of which go to the Permanent University Fund and Permanent School Fund. The value of these two behemoth funds now stand at $39.6 billion (PUF) and $55.6 billion (PSF) at the end of 2021.
The Texas Permanent School Fund is the largest educational endowment in the nation.
Everyday Essentials
Nearly every in-demand product we need to be safe, to save lives and to power our economy – from face shields and hand sanitizers to high-speed internet connections and computers – is made possible by oil and natural gas.
Even before the pandemic, 96 percent of products we use every day like pharmaceuticals, electronics, cosmetics and clothing are made from oil and natural gas. There is no substitute for oil and natural gas in our lives or for our economy.
The United States depends on our Texas refining complexes as Texas is home to 31% of the nation’s refining capacity. Texas refiners not only meet our nation’s fuel needs but also those of our trading partners around the world.
Nearly every in-demand product we need to be safe and to save lives – from face shields and other PPE to ventilators and hand sanitizers – is made from oil and natural gas. In fact, 96% of products we use every day like pharmaceuticals, electronics, cosmetics and clothing – even wind turbine blades and solar panels – are all made from oil and natural gas.