Deportes

Awarenity USA | Texas Gets $14 Billion In Taxes, Royalties From Oil & Gas In 2020

“This revenue from oil and natural gas production, pipelines, refineries and LNG facilities translates into about $38 million each day that pay for our schools, universities, roads, first responders and essential services,” Staples noted.

Since 2007, when the association first started compiling this data, the Texas oil and natural gas industry has paid more than $162.9 billion in state and local taxes and state royalties, according to TXOGA

Home Oil Prices Rig Count Energy Energy-General Oil Prices Crude Oil Heating Oil Gas Prices Natural Gas Coal Company News Interviews Alternative Energy Nuclear Power Solar Energy Hydroelectric Renewable Energy Geothermal Energy Wind Power Fuel Cells Tidal Energy Biofuels Environment Global Warming Oil Spills Geopolitics Africa Asia Europe Indonesia International Middle East North America South America Finance the Economy the Markets Investing & Trading Reports Commodities Gold Silver Breaking News Premium Articles Community My Account Latest Discussions Energy General Oil Stocks & Prices Other Energy Topics All Prices OPEC Blends Canadian Blends U.S. Blends WTI Crude • 10 mins 52.86 -0.35 -0.66% Brent Crude • 10 mins 56.00 -0.58 -1.03% Natural Gas • 10 mins 2.741 -0.012 -0.44% Mars US • 20 hours 54.51 +0.96 +1.79% Opec Basket • 2 days 55.41 +0.65 +1.19% Urals • 22 days 42.22 +0.00 +0.00% Louisiana Light • 2 days 55.48 +1.03 +1.89% Louisiana Light • 2 days 55.48 +1.03 +1.89% Bonny Light • 2 days 55.95 +1.01 +1.84% Mexican Basket • 2 days 52.25 +0.84 +1.63% Natural Gas • 10 mins 2.741 -0.012 -0.44% Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

Marine • 2 days 55.66 +0.31 +0.56% Murban • 2 days 55.84 +0.36 +0.65% Iran Heavy • 2 days 52.81 +1.16 +2.25% Basra Light • 2 days 58.27 +0.88 +1.53% Saharan Blend • 2 days 56.19 +1.49 +2.72% Bonny Light • 2 days 55.95 +1.01 +1.84% Bonny Light • 2 days 55.95 +1.01 +1.84% Girassol • 2 days 57.18 +0.88 +1.56% Opec Basket • 2 days 55.41 +0.65 +1.19% OPEC Members Monthly Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

Canadian Crude Index • 9 days 39.41 +1.59 +4.20% Western Canadian Select • 14 hours 40.86 +1.61 +4.10% Canadian Condensate • 14 hours 52.21 +0.96 +1.87% Premium Synthetic • 14 hours 53.61 +0.96 +1.82% Sweet Crude • 14 hours 48.06 +1.11 +2.36% Peace Sour • 14 hours 46.01 +1.16 +2.59% Peace Sour • 14 hours 46.01 +1.16 +2.59% Light Sour Blend • 14 hours 48.31 +1.56 +3.34% Syncrude Sweet Premium • 14 hours 49.31 +1.06 +2.20% Central Alberta • 14 hours 46.01 +0.96 +2.13% Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

Louisiana Light • 2 days 55.48 +1.03 +1.89% Domestic Swt. @ Cushing • 2 days 49.75 +1.00 +2.05% Giddings • 2 days 43.50 +1.00 +2.35% ANS West Coast • 6 days 56.08 +1.42 +2.60% West Texas Sour • 2 days 47.16 +0.96 +2.08% Eagle Ford • 2 days 51.11 +0.96 +1.91% Eagle Ford • 2 days 51.11 +0.96 +1.91% Oklahoma Sweet • 2 days 49.75 +1.00 +2.05% Kansas Common • 2 days 43.50 +1.00 +2.35% Buena Vista • 2 days 59.10 +16.16 +37.63% Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

1D 1M 3M 1Y All Charts Discussion Headlines 1 min Texas Gets $14 Billion In Taxes, Royalties From Oil & Gas In 2020 1 hour EIA Lowers 2021 Global Oil Demand Growth Estimate 2 hours Energy Transition Threatens Oil Producers: IEA 4 hours Total And Engie Plan France’s Largest Green Hydrogen Plant 5 hours GM Presents Cadillac Flying Car For Rich People 6 hours Enbridge Says Michigan Governor’s Shutdown Orders Are Unlawful 23 hours Oil Prices Rally On Large Crude Draw 23 hours Mozambique Looks To End Terrorism Threatening Major LNG Projects 1 day Pandemic Led To Crisis Of Confidence Among Oil Workers 1 day South Africa’s Faces Major Oil Refinery Crisis 1 day Shell To Cut UK Jobs As Part Of Global Workforce Reduction 1 day EIA: U.S. Natural Gas Reserves Slip Amid Low Prices 1 day IMF Approves Loan To Struggling OPEC Producer Angola 2 days Tesla’s $25,000 Car May Hit The Market Sooner Than Planned 2 days HSBC Shareholders Urge Bank To Cut Fossil Fuel Funding 2 days Scientists ‘Microwave’ Coal Into Graphite 2 days US Marks Houthi Rebels As Terrorists After Attacks On Oil Assets In Middle East 2 days Iran: Foreign Oil Firms Must Accept New Terms To Work In Country 2 days EV Maker Nio Partners With Nvidia To Create Self-Driving ‘Supercomputers’ 2 days Saudi Crown Prince Announces Zero Carbon Smart City 2 days Gas Prices In Spain Skyrocket Amid Cold Snap 5 days North Dakota To Pay Off Infrastructure Bonds With Oil Money 5 days U.S. Natural Gas Prices Hit Lowest In Decades In 2020 5 days Apple’s EV Partner Still Unknown Despite Hyundai Partnership Rumors 5 days Norway’s Oil Lobby Criticizes Government Plan To Triple Carbon Tax 5 days New Lockdowns Dash Hopes Of A Rapid Oil Demand Recovery In Europe 5 days Petrobras Oil Output Hits Record In 2020 6 days Saudi Surprise Cut Continues To Lift Oil Prices 6 days Floating Oil Storage Shrinks Amid Robust Asian Demand 6 days Alaska Arctic Refuge Oil Lease Sale Ends In Flop 6 days Albemarle To Double Nevada Lithium Production 6 days Iran Refuses To Negotiate Korean Fuel Tanker Release 6 days EV Makers To Benefit From California Stimulus Program 7 days Q4 2020 Saw Jump In Oil & Gas Dealmaking 7 days U.S. Banks Don’t Want To Be Forced To Lend Money To Oil & Gas 7 days Exxon Discloses Value-Chain Emissions 7 days Guards Block Oil Loading At Libyan Port 7 days Alaska Judge Rules In Favor Of Oil, Gas Drilling In Wildlife Refuge 8 days Oil Rally Unaffected By Major Product Builds 8 days These U.S. Oil States Are Holding Lease Sales In January 2 minutes U.S. Presidential Elections Status – Electoral Votes 5 minutes “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova 7 minutes United States LNG Exports Reach Third Place 59 mins Here it is, the actual Complaint filed by Dominion Voting Machines against Sydney Powell 2 hours a In 2020, we produced and delivered half a million cars. 1 hour Tonight Twitter took down Trump’s personal account permanently. Trump responded on the POTUS account. 5 hours Trump Supporters Just Handed a Huge Propaganda Victory to China 5 hours Do Republicans like Liz Cheney, Adam Kinzinger, Mitt Romney and now McConnell think voting for Impeachment can save the party ? Without Trump base what is the Republican constituency ? It’s over. 44 mins ICE Engines Hear to Stay Regardless of War Against 52 mins The World Economic Forum & DavosSetting the agenda on fossil fuels, global regulations, etc. 19 hours Fast Car Charge Costs More Than Gas (?) 45 mins Minerals, Mining and Industrial Ecology 57 mins One drawback of an EV . . . . 9 hours Russia loses its chance to capture the EU gas market 18 hours EU(Merkel/Germany) ready to sign Trade Agreement with China 14 hours Should People Be Prosecuted for Trespassing on Federal Property? Breaking News: Texas Gets $14 Billion In Taxes, Royalties From Oil & Gas In 2020

Find us on:

U.S. Foreign Policy Is Fueling Iran’s Interest In Venezuela By building a significant presence…

India Oil Demand Falls For First Time In 20 Years Due To COVID India’s crude oil demand last…

Home Latest Energy News Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Share Facebook Twitter Google + Linkedin Reddit Related News Mozambique Looks To End Terrorism Threatening Major LNG Projects Pandemic Led To Crisis Of Confidence Among Oil Workers South Africa’s Faces Major Oil Refinery Crisis Shell To Cut UK Jobs As Part Of Global Workforce Reduction EIA: U.S. Natural Gas Reserves Slip Amid Low Prices Texas Gets $14 Billion In Taxes, Royalties From Oil & Gas In 2020 By Tsvetana Paraskova – Jan 13, 2021, 2:30 PM CST The Texas oil and gas industry paid a total of $13.9 billion in state and local taxes and state royalties in fiscal year 2020, the Texas Oil & Gas Association (TXOGA) said in its annual Energy & Economic Impact Report this week.

The amount of taxes and royalties the state collected last year was lower than the record-high $16.3 billion in local taxes and state royalties in fiscal year 2019, when oil and natural gas production in the Lone Star State surged to records.  

“As challenging as last year was, the Texas oil and natural gas industry contributed tremendously to state and local tax coffers,” Todd Staples, President Texas Oil & Gas Association, said in the foreword to the report for 2020.

“This revenue from oil and natural gas production, pipelines, refineries and LNG facilities translates into about $38 million each day that pay for our schools, universities, roads, first responders and essential services,” Staples noted.

Since 2007, when the association first started compiling this data, the Texas oil and natural gas industry has paid more than $162.9 billion in state and local taxes and state royalties, according to TXOGA.

Related: LNG Price Boom Obliterates Rally In Bitcoin

The industry employed 400,974 Texans during financial year 2020, the association said, noting that every direct job in the Texas oil and natural gas industry creates an additional 2.4 Texas jobs.

To compare, TXOGA’s report for 2019 showed that the industry employed 428,234 Texans during FY 2019.

Texas, as the biggest oil-producing state in the United States, saw in 2020 the highest number of job losses in the industry as a result of the crash in oil prices and oil demand.  

Although the Texas upstream oil and gas industry remained in contraction in the third quarter of 2020, signs started to emerge in employment and rig counts that the sector may have already seen the worst of the downturn and could be headed to recovery, the Texas Alliance of Energy Producers said in early November.

A Texas Alliance of Energy Producers survey carried out in November showed that 75 percent of more than 160 oil and gas professionals think 2021 would be better or about the same for the industry as 2020. Texas energy professionals, however, expressed concern about federal overreach with the Biden Administration.

Commenting on the survey, Jason Modglin, President of the Texas Alliance of Energy Producers, said:

“Concerns about economic conditions and burdensome federal overreach are very real, but these results and comments demonstrate a determination to fight and persevere.”  

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:

Oil Bulls Are Back

Asian Buyers Rush To Secure North Sea Oil After Saudi Surprise Cut

Oil, Gas Rigs Increase For Seventh Straight Week

Join the discussion |