The Briefing Room
State Chapters => Texas => Topic started by: thackney on February 14, 2019, 09:04:29 pm
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Study: Texas oil & gas industry paid $14 billion in taxes, royalties in 2018
https://www.chron.com/business/energy/article/Study-Texas-oil-gas-industry-paid-14-billion-13615603.php (https://www.chron.com/business/energy/article/Study-Texas-oil-gas-industry-paid-14-billion-13615603.php)
February 14, 2019
The oil and natural gas industry in Texas paid more than $14 billion in state and local taxes and state royalties in fiscal year 2018, a new report shows.
A study from the Texas Oil & Gas Association show that the figures marked a 27 percent increase from fiscal year 2017.
"Last year alone, the Texas oil and natural gas industry paid the equivalent of $38 million a day to fund our schools, roads, universities and first responders," TXOGA President Todd Staples said in a statement. "More tax and royalty revenue from the oil and natural gas industry means our and local taxes and state royalties in fiscal year 2018, a new report shows.
A study from the Texas Oil & Gas Association show that the figures marked a 27 percent increase from fiscal year 2017.
"Last year alone, the Texas oil and natural gas industry paid the equivalent of $38 million a day to fund our schools, roads, universities and first responders," TXOGA President Todd Staples said in a statement. "More tax and royalty revenue from the oil and natural gas industry means our lawmakers have more to work with to meet the needs of our growing state."...
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Estimates appear not to include any of the taxes collected on downstream or midstream operations, which is considerable. Also does not include the huge numbers related to royalties paid to private royalty owners.
Just think of the billions of $ the citizens of New York would be getting like this if the Democrats like Cuomo there were not throttling the oil and gas industry to not drill wells.