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R E S O L U T I O N
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WHEREAS, Hundreds of employees, advocates, and allies of the |
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energy industry are gathering in Austin on February 4, 2025, in |
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celebration of Texas Energy Day at the State Capitol; and |
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WHEREAS, Contributing to an unprecedented level of American |
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energy security, Texas leads the nation in oil and natural gas |
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production, pipeline miles, refining capacity, storage, |
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processing, and exports; 2024 was a groundbreaking year for the oil |
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and natural gas sector, helping the state move closer to reaching |
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Governor Greg Abbott's goal to surpass France as the |
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seventh-largest economy in the world; and |
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WHEREAS, The Texas oil and natural gas industry paid a record |
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$27.3 billion in state and local taxes and state royalties in 2024; |
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this revenue supports such essential services as education, |
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transportation, and health care, as well as infrastructure via the |
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State Highway Fund, Permanent School Fund, Permanent University |
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Fund, and Economic Stabilization Fund, all of which are funded |
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almost exclusively by the oil and natural gas sector; in fiscal year |
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2024, Texas school districts received $2.92 billion in property |
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taxes from pipelines, gas utilities, and mineral properties |
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producing oil and natural gas, and Texas counties received $1.03 |
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billion in these property taxes; since 2007, when the Texas Oil & |
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Gas Association began compiling this data, the industry has paid |
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more than $257.6 billion in state and local taxes and state |
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royalties; not included in this sum are taxes paid on office |
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buildings and personal property or hundreds of billions of dollars |
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in payroll; and |
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WHEREAS, Almost 500,000 Texans are directly employed by the |
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oil and gas industry, and they are some of the highest-paid workers |
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in the state; in addition, every direct job creates an additional |
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two roles with nearly 1.4 million total jobs supported across the |
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industry; and |
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WHEREAS, This dynamic industry exerts an enormous ripple |
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effect that benefits other sectors of the economy, improving the |
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prosperity and social progress of communities across Texas and |
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around the world; nearly all of the items we use every day, from |
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pharmaceuticals and electronics to cosmetics and clothing, are made |
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from petroleum products; and |
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WHEREAS, Thanks to abundant natural resources, generational |
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knowledge, and bold leadership, the Texas oil and gas industry |
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plays a pivotal role in powering modern life, preserving American |
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economic vitality and energy security, and promoting stability for |
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our allies around the globe; now, therefore, be it |
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RESOLVED, That the House of Representatives of the 89th Texas |
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Legislature hereby recognize February 4, 2025, as Texas Energy Day |
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at the State Capitol and extend to all those associated with the oil |
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and gas industry sincere best wishes for continued success. |