“The oil and gas industry paid around $11 billion in production taxes alone last year . . . directly benefiting Texans and our livelihoods, while wind and solar cost about $4 billion a year to state ratepayers.”
Texas Insider Report: AUSTIN, Texas – Texas Comptroller Glenn Hegar announced the Fiscal Year 2022 (FY 22) state revenues highlighting that the oil and gas industry paid record-breaking taxes to the state. The oil production tax generated $6.36 billion up 84% from FY 2021, while the natural gas production tax generated $4.47 billion up 185% from last year. Following the report, Railroad Commission Chairman Wayne Christian said the following:
“The oil and gas industry paid around $11 billion in production taxes alone last year – not including its strong sales tax contributions – directly benefiting Texans and our livelihoods, while wind and solar cost about $4 billion a year to state ratepayers,” said Chairman Christian.
“Texas is blessed with a God-given abundance of oil and gas that reliably powers the world while also providing numerous monetary benefits to hardworking Texans
"I will fight President Biden and his radical environmentalists who want to destroy the Texas economy and continue to support cheap, plentiful and reliable energy which benefits all Texans.”