Benefits of Oil & Natural Gas

The Texas oil and gas industry is a cornerstone of our state economy, supporting over 1 million direct and in-direct jobs and providing billions of dollars in tax revenue annually that supports all aspects of our state, including roads and infrastructure investment, water conservation programs, schools and education, and first responders, to name a few. Aside from its unmatched economic contributions, the oil and gas industry provides countless other benefits to our state and country. From the fuel used for transportation, to material used in medicines, computers, medical devices, cosmetics, and thousands of additional products, oil and natural gas is central to the lives of all Texans. As the leading producer of oil and natural gas, Texas continues to strengthen our country’s national security, economic growth and goal of energy independence.

 

What Does Oil & Gas Mean for Texas?

328,000 Direct Jobs in Texas, 39% of Oil & Gas Jobs Nationwide
11,681 Oil & Gas Businesses
Average Annual Wages of $128,000, Annual Payroll of $42 Billion


$11 Billion in State Taxes & State Royalty Payments Paid in 2017
$1.1 Billion for Texas Schools in 2017
Nation’s Largest Economic Stabilization Fund, Almost Solely Supported by Oil & Gas Severance Taxes




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