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(The Center Square) – The Texas oil and natural gas industry broke multiple records in fiscal 2024, including paying a record $27.3 billion in taxes and royalties, according to new data ...
Texas producers also paid $436 million in oil production taxes and $182 million in natural gas production taxes in October, according to the Texas Comptroller’s Office.
In 2007, state severance taxes amounted to $10.7 billion, mostly from oil, gas, and coal. States also received 50 percent of federal onshore oil and gas lease revenues within their borders, and 27 percent of federal offshore oil and gas revenues adjacent to their shorelines; the state share of federal revenues totalled $2.0 billion in 2007. [45]
A new S&P Global Commodity Insights analysis shows that methane emissions from oil and natural gas production operations in the Permian Basin alone decreased 26% in one year, equal to the total ...
On average, as of April 2019, state and local taxes and fees add 34.24 cents to gasoline and 35.89 cents to diesel, for a total US volume-weighted average fuel tax of 52.64 cents per gallon for gas and 60.29 cents per gallon for diesel. [3]
The Wyoming Oil and Gas Conservation Commission regulates many aspects of oil, coal, and gas development in this resource-rich state. [105] There is an annual state Gas Fair. [106] The University of Wyoming is well known for its research on energy development. [104] The university sponsored a symposium on coal gasification in 2007. [107] [108]
As for Texas's business tax climate, the state ranks 8th in the nation. [22] Property taxes are exclusively collected at the local level in the state, and are generally at rates above the national average. [22] As a whole, Texas is a "tax donor state" with Texans receiving back approximately $0.94 per every dollar of federal income taxes ...
In 2024, inflation has hit the U.S. and the global economy with a vengeance. From the perspective of the American consumer, the skyrocketing cost of gas has likely been the clearest indication of...