Oil and Gas Industry Puts $16.2 Billion Back into State Economy in 2019
The
Texas Oil and Gas Association announced their annual energy and economic impact
report Tuesday morning and Texans are benefiting in a big way.
“It’s
unbelievable what the oil and gas industry funds in this state -- education,
schools, universities, the rainy day fund, projects, infrastructure I think a
lot of people don’t realize that. It’s huge,” said Gates Brelsford, the
co-owner of Brelsford Personal, a recruiter for the industry.
A
record breaking $16.2 billion were allocated to the state, for schools,
teachers, roads, infrastructure and healthcare. These funds also helped fund
UT-Tyler’s new Health Science Center.
“We
know that $1.54 billion were paid directly to Texas school districts we know
that over a billion dollars were paid into our permanent university fund
another billion dollars was paid into the state’s permanent school fund
benefiting all Texas schools,” said Todd Staples, the president of the Texas
Oil & Gas Association.
With
the industry doing well, it provided jobs across the state and even here in
East Texas.
“It’s
bound to be a boom for Tyler it’s what I would think because they make money
and they employ workers and that’s what’s best for Tyler,” said Ronnie Stutts,
a Tyler resident.
And
as technology gets better, Staples tells us that emissions will decrease.
“And
oil and natural gas companies are leading the way in climate solution they are
working toward a lower emission future,” Staples said.
Although the business’ growth is not guaranteed, the industry is looking to focus on the progress in improving the economy and protecting the environment.