Companies like Texas Energy Mutual, Inc., have contributed to an oil and gas boom that has greatly strengthened the state’s economic health. Texas Energy Mutual and its peers have leveraged modern resource extraction methods to produce a statewide total of nearly 3 million barrels of oil per day, which puts Texas in the ranks of the top 10 largest oil producers in the world.
An industry so large produces a great quantity of well-paying jobs for Texans. According to the Texas Oil and Gas Association, businesses in this sector employ roughly 400,000 people in the state.
Further, the industry provides a very strong tax base. For instance, in 2012, petroleum producers added more than $3.5 billion to Texas’ coffers. More recently, however, Texas' oil and gas taxes and royalties have exploded to record levels. In 2014, they totaled nearly $16 billion. Much of the money goes toward maintaining the state's extensive transportation network.
For more information about Texas oil and gas, please log on to texasenergymutual.com.
An industry so large produces a great quantity of well-paying jobs for Texans. According to the Texas Oil and Gas Association, businesses in this sector employ roughly 400,000 people in the state.
Further, the industry provides a very strong tax base. For instance, in 2012, petroleum producers added more than $3.5 billion to Texas’ coffers. More recently, however, Texas' oil and gas taxes and royalties have exploded to record levels. In 2014, they totaled nearly $16 billion. Much of the money goes toward maintaining the state's extensive transportation network.
For more information about Texas oil and gas, please log on to texasenergymutual.com.