Texas Oil And Natural Gas
As Texans we have a lot to be proud of when it comes to our energy resources. Oil and natural gas development directly employs over 347,000 Texans. The industry also generates billions in tax revenue for our communities and schools – $13.9 billion in state taxes and state royalty payments in 2020 alone!
The Lone Star State has led America’s energy revolution. Texas is the third-largest producer of natural gas on the planet, behind only the United States and Russia. Texas currently provides about 25 percent of America’s natural gas. Texas is also one of the largest oil producers in the world. Among members of the Organization of Petroleum Exporting Countries (OPEC), only Saudi Arabia and Iraq produce more oil than the Lone Star State, thanks in large part to the Permian Basin in West Texas and the Eagle Ford in South Texas.