CORPUS CHRISTI, Texas — The Texas Oil and Gas Association is touting a blockbuster year in 2023.
Officials said the oil and gas industry paid a record $26.3 billion dollars in state and local tax royalties, which is over $1.5 million dollars more than last year's record.
TxOGA said those funds, about $73 million dollars a day, go directly to Texas public schools, universities, and roads.
President Biden recently announced his administration planned to halt LNG production, prompting questions about whether those banner levels are sustainable.
3News spoke with TxOGA's Matt Garcia, who said they are.
"The answer is yes -- it absolutely good for Texas on a number of fronts. One of the things Texas does really well, is we have great innovators here," said Garcia.
"We have some of the best minds in the world, operating right here in Texas -- and operating right in the Texas energy plays. So we've had a banner year. Record breaking production."
Garcia also said that as the Coastal Bend's industrial and energy base grows, our local emissions profile has reduced.
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