Texas Pipeline Association recently commissioned a study on the economic impact of the state’s oil and gas pipeline industry by Center for Energy Commerce at Texas Tech University. The study released earlier this month shows that the industry provided more than $60.5 billion in economic output in 2022 and nearly $3.6 billion in state and local government revenue. The industry provided more than 234,000 jobs last year. And the industry generated an estimated $12,250 in property tax revenue per mile of pipeline in a typical Texas county.
“We’re very proud of the significant impact we have on the Texas economy,” Thure Cannon of Austin, TPA president, told Midland Reporter Telegram. “Producing and refining numbers are enormous. These numbers are enormous as well.”
A report from the study written by Bradley Ewing, professor in Tech’s Rawls College of Business, said, “The Texas midstream industry will be a crucial player on the global playing field far into the future… It is clear that pipelines are of great benefit to the residents and businesses of this growing state.”