Politics & Policy

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Gas

Texas oil and natural gas industry paid record $26.3 billion in state and local taxes

What the industry paid in taxes and royalties translates to $72 million a day. The revenue funds Texas’ public schools, universities, roads, first responders and other essential services, the association notes. Record remittances funneled $2.81 billion into Texas Independent School Districts and $885.6 million to counties from property taxes paid from oil and natural gas production, pipelines and gas utilities.