Texas’ oil and natural gas industry paid a record $24.7 billion in state and local taxes and state royalties in fiscal year 2022, according to annual economic impact report released Monday in Austin by Texas Oil and Gas Association. Todd Staples, association president, said the total “shattered” the previous record of $16 billion in 2019 by 54 percent. “The Texas oil and natural gas industry plays an extraordinary role in securing our state and national economy and advancing global stability,” Staples said. “Our allies literally are knocking at our door in energy need, and Texas’ oil and natural gas producers, pipelines, refiners and exporters are playing an essential role in delivering energy stability to our trade partners.”
TxOGA said the $24.7 billion translates to $67 million every day for public schools, universities, roads, first responders and other essential services. In FY 2022 Texas school districts received $1.65 billion in property taxes, and counties received $608.6 million. Midland ISD ranked No. 1 among schools with $113.3 million (32.2 percent of tax base), and Reeves ranked No. 1 among counties with $44.9 million (58.4 percent of tax base).