Texas’ oil and gas machine just delivered again, pouring nearly $27 billion into state and local coffers in fiscal 2025, even as companies quietly cut staff and tightened operations ahead of a softer market. Industry leaders say that haul works out to about $74 million a day, propping up schools, highways, and other local services while the state kept hitting new production milestones. Not exactly pocket change.
According to the Texas Oil & Gas Association’s annual Energy & Economic Impact Report, the industry paid $27.0 billion in state and local taxes and state royalties in FY2025, a sum the trade group calls the second-highest in Texas history. Texas Oil & Gas Association reports that the revenue translates to nearly $74 million per day and that major public funds, including the Permanent University Fund and the Permanent School Fund, received multimillion-dollar infusions during the year…