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Texas Oil And Gas Revenues In Decline After Near-Record Take In 2015

The industry paid nearly $14 billion in taxes and royalties last year, even as oil prices languished.

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Texas oil and gas companies paid $13.8 billion dollars in state and local taxes and state royalties in 2015, according to an analysis by the Texas Oil & Gas Association. Last year marked the second-highest such collection from the industry in the state's history.

Former Texas Agriculture Commissioner Todd Staples is the association's president. He warns the state won't see as big a windfall in 2016.

"The falling price of oil reminds us that this revenue is not guaranteed," he says. "In fact, in [the] current fiscal year that we're in now, we're seeing significantly less money available for state and local purposes."

Staples notes that such revenues have paid for much of Texas' recent investments in transportation and water infrastructure.

In addition, $1.9 billion in oil and gas property taxes went to finance the state's independent school districts in fiscal year 2015, while $632 million were remitted to county governments.

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Andrew Schneider

Andrew Schneider

Politics and Government Reporter

Andrew heads Houston Public Media’s coverage of national, state, and local elections. He also reports on major policy issues before the Texas Legislature and county and city governments across Greater Houston. Before taking up his current post, Andrew spent five years as Houston Public Media’s business reporter, covering the oil...

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