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TX O&G Companies Paid Billions In 2018 Tax Revenues

Courtesy: Texas OGA

TX OIL & GAS REVENUES -   A recent report says  Texas oil and natural gas companies paid just over $14 billion dollars  into state and local treasuries last year -- the second highest total in the state's history.   That's according to the Texas Oil & Gas Association's Annual Energy and Economic impact report for the industry's 2018 fiscal year.  Todd Staples, President of TX-OGA  said Texas saw more than a 3 billion dollar increase in revenue from the industries compared to the previous fiscal year.

"14 billion dollars translates into about 38 million dollars a day that our industry contributes to state and local revenue," explained Staples.     

Staples said with companies investing billions of dollars into advanced production technologies, the environment also benefits.

Credit Courtesy: Texas OGA
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Courtesy: Texas OGA
Todd Staples, President - Texas Oil and Gas Association

"CO2 emissions in the U.S. are near 20-year lows," said Staples. "Aand methane emissions from oil and natural gas systems are down 14 percent since 1990, all while production has sky rocketed."   

Staples added the results come from a combination of good science and well thought out public policies.

"Texas is succeeding because of the robust science-based regulations that are protecting the environment," explaine Staples. "And stable public policies that encourage responsible production, innovation and investment." 

Texas Oil & Gas Association expects this trend to continue in 2019.

Chuck Smith brings more than 30 years' broadcast and media experience to Red River Radio. He began his career as a radio news reporter and transitioned to television journalism and newsmagazine production. Chuck studied mass communications at Southern Arkansas University in Magnolia and motion picture / television production at the University of California at Los Angeles. He has also taught writing for television at York Technical College in Rock Hill, South Carolina and video / film production at Centenary College of Louisiana, Shreveport.