Stronger.
As our nation continued its rebound from the lingering impact of the pandemic, data confirms that reliable, affordable energy, fuels and products made by the oil and natural gas industry, and the massive economic benefits industry provides, are central to Texas’ continues success.
Oil and natural gas infrastructure creates high-paying jobs, generates revenues unmatched by other industries in Texas, and supports economic growth in Texas communities. Oil and natural gas companies pay billions of dollars in state taxes each year, which funds the development and improvement of Texas’ roads and highway infrastructure, public education, emergency response services, healthcare facilities and more.
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paid in taxes and state royalties by Texas oil and natural gas industry in FY 2021
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Texans directly or indirectly employed because of the Texas oil and natural gas industry
“Texans understand the essential nature of oil and natural gas and this analysis confirms the indispensable role the industry plays in providing jobs and investment that benefits every community and all Texans. As the leaders in domestic energy production, our member companies’ efforts ensure reliable products are available to power modern America and serve as the underlying foundation of Texas public school, university and public infrastructure funding.”
Todd Staples
President
The Texas oil and natural gas industry is driving economic and environmental progress in the United States and beyond. The industry pays billions of dollars in state and local taxes and state royalties that directly fund our schools, roads, first responders and essential services.
https://www.youtube.com/watch?time_continue=1&v=ikC2L-XKtUM&feature=emb_title
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1000+ Texans, 50 Partner Organizations Convene Virtually for Texas Energy Day @ the Capitol
Economic Benefits
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In 2021, the Texas oil and natural gas industry paid $15.8 billion in state and local taxes and state royalties – funds that directly support Texas schools, teachers, roads, infrastructure and essential services. This total equates to about $43 million a day that are put to work for every Texan. The total from 2007 – 2021 is over $179 billion.
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The Rainy Day Fund received $1.66 billion from oil and natural gas taxes, bringing the balance to more than $10 billion – funds that will be vital to meeting our state’s budget needs.
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Texans directly or indirectly employed because of Texas oil and natural gas activity. In 2020, direct economic output (GSP) of the 20 sectors was 10.2% of the total Texas private sector economy for the year. After accounting for both the direct and indirect impacts on the economy, the Texas oil and natural gas industry supported $344.1 billion, or 21.9% of total private sector Texas GSP in calendar year 2020.
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Texas’ Rainy Day Fund received $1.134 billion from oil and natural gas production taxes. Since established in 1987, the Fund has been appropriated 128 times, the first of which was to fund public education. The Texas oil and natural gas industry is the funding source for the Fund. The sum of all Fund appropriations since its inception totals $18.2 billion. Without the direct funding from taxes paid by the Texas oil and natural gas industry, many priority items such as a 13th teacher retirement check, disaster recovery funding and healthcare services would not have received the substantial dollars allocated to meet these essential needs.
ESSENTIAL ENERGY INFRASTRUCTURE
Increased Production and Infrastructure Creates Jobs and Security
The increase in production of oil and natural gas has allowed the U.S. to expand and improve infrastructure across the nation. Building this network has brought jobs, security, and innovations in technology to the U.S. for the economy’s benefit.
Energy Infrastructure is Reliable
Expanding energy infrastructure, including pipelines, tanks and terminals, is the best way to increase energy reliability and security and to protect our fuel supply in the event of a natural disaster.
Pipelines Are Safe, Reduce Pollution, Create Jobs
Pipelines are the main method of transportation for natural gas and fuel in Texas. They are also the safest method of transportation, delivering product without incident over 99.99% of the time. Pipelines help provide affordable and reliable energy to millions of families across the state and the nation, and pipeline maintenance, repair, and buildout supports hundreds of thousands of jobs in Texas and millions across the U.S. Pipelines also work to protect our environment and health by reducing pollution associated with other methods of fuel transportation.
U.S. Energy Leadership
Improving our energy infrastructure is essential to delivering the economic, security, and environmental benefits of U.S. energy leadership to communities across the country and around the world.
Pipelines are the safest and most environmentally-friendly mode of energy transportation. Expanded pipeline infrastructure will reduce flaring, improve road safety and strengthen the Texas economy by providing hundreds of thousands of good jobs and billions of dollars in state and local tax revenues. Demand for Texas’ abundant and affordable supply of clean natural gas necessitates modernized infrastructure regulations so that Texas can continue to provide domestic energy security and global stability and make the air cleaner at home and around the world.
Todd Staples
President
Energy Security
Today, thanks to the ingenuity, innovation and perseverance of the industry, the United States is less dependent on unstable foreign sources for the energy needed to power modern life. The Texas oil and natural gas industry is at the epicenter of the American energy resurgence that has made this possible.
