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Texas oil, natural gas industry breaks record: $27.3 billion paid in taxes, royalties | Texas

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www.thecentersquare.com – By Bethany Blankley | The Center Square reporter – 2025-01-08 13:48:00

SUMMARY: In fiscal 2024, Texas’ oil and natural gas industry set multiple records, including paying a record $27.3 billion in taxes and royalties, surpassing last year’s figure by nearly $1 billion. This amount is more than the total tax revenues of 34 states. These funds support essential services such as public schools, universities, and roads. The industry is a major contributor to the state’s education funds, with royalties going into the Permanent School Fund and Permanent University Fund. The industry also significantly funds local school districts and counties, especially in West Texas’ Permian Basin, where it constitutes the majority of the tax base.

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News from the South - Texas News Feed

San Antonio community mourns the loss of beloved ‘Spurs Lady’

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www.youtube.com – KSAT 12 – 2025-01-12 20:27:29

SUMMARY: Sovia Laurano, an iconic figure in San Antonio and beloved Spurs fan, passed away from a heart attack. Known for her vibrant spirit, unique outfits, and unfailing support for the team, she had a profound impact on the community. Spurs members and local artists are working to honor her legacy, with plans including a decorated casket. Mayor Ron Nirenberg praised her as embodying the heart of San Antonio. Despite past health struggles, her love for the Spurs remained, inspiring many. The community aims to celebrate her memory at future games, ensuring her spirit continues to thrive within Spurs Nation.

The Spurs described Sovia Lauriano as “a true fan with a big smile and an even bigger heart.”

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News from the South - Texas News Feed

No. 2 South Carolina drops No. 5 Texas 67-50 in SEC women’s basketball showdown

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www.kxan.com – Billy Gates – 2025-01-12 15:08:00

SUMMARY: No. 2 South Carolina triumphed over No. 5 Texas 67-50 in a top-five Southeastern Conference women’s basketball showdown. The Gamecocks dominated defensively, limiting Texas to just 28% shooting and forcing 22 turnovers. Kyla Oldacre was Texas’s standout, scoring 11 points and securing 16 rebounds, despite limited playtime. South Carolina, with notable contributions from Te-Hina Paopao, Chloe Kitts, and Joyce Edwards, shot 51% overall and excelled with fast break points. Texas struggled, trailing 18-9 after one quarter and 39-22 at halftime. The Gamecocks recorded their 11th straight win, while Texas prepares for an upcoming game against Auburn.

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News from the South - Texas News Feed

Surplus could fuel ‘life-changing decisions’ for Texans

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www.kxan.com – – 2025-01-12 08:30:00

SUMMARY: Texas lawmakers are preparing for a legislative session focused on education savings accounts, border security, and property tax reform, all with substantial funding needs. State Comptroller Glenn Hegar will announce the Biennial Revenue Estimate, predicting a large cash balance from the current budget. He anticipated a favorable outlook, noting the Economic Stabilization Fund has reached a record $24 billion. Hegar emphasized the importance of addressing infrastructure demands alongside potential education funding reforms. Lawmakers may discuss implementing education savings accounts, building on previous proposals aimed at aiding specific student demographics. Hegar’s office is expected to manage the program if established.

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