A report from the Texas Oil and Gas Association shows that the state’s energy industry is showing no signs of waning, boasting record levels of crude oil production as the federal government introduced further environmental regulations that industry leaders said are designed to hinder production.
The latest version of the group’s annual report said that oil and gas companies paid $26.3 billion in state and local taxes in 2023, $1.5 billion more than last year, due in part to record fossil fuel extraction throughout the state. The report also said the oil and gas industry employed more than 480,000 Texans who make an average of $124,000 a year.
Todd Staples, the association’s president, said the industry 'has achieved these record-breaking milestones in spite of our federal government using every opportunity to thwart growth by delaying permits, canceling pipelines and introducing regulatory uncertainty.”
