AUSTIN – The Texas oil and natural gas industry paid $26.3 billion in state and local taxes and state royalties in fiscal year (FY) 2023 – the highest total in Texas history.

This shattered last year’s record by more than $1.5 billion. 

The information comes from newly released data from the Texas Oil & Gas Association.

TXOGA President Todd Staples spoke about his group’s Annual Energy & Economic Impact Report in a webinar on Jan. 30, 2023.

He also spoke about the oil and gas industry’s global energy leadership, environmental progress, and policy priorities.

“American energy leadership starts in Texas and our nation, our economy and our world are better because of the unparalleled stewardship of Texas oil and natural gas companies,” Staples said. 

“2023 was such a blockbuster year that the Texas oil and natural gas industry effectively rewrote its record book, clocking unmatched economic and energy achievements across the board.”

Staples said the record-breaking performance of the Texas oil and natural gas industry amounts to much more than phenomenal statistical achievements. 

“The natural resources, fuels and essential products produced here cement America’s energy security, fortify Texas’ Staples said.

Here is an audio recoding of Staples’ remarks on the webinar.

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