38% of the Texan economy, Dude. The bulk of the state economy.
Rig Zone (3/7/25) reports: "Payroll in the U.S. oil and gas industry totaled $168 billion in 2024. That’s what the Texas Independent Producers & Royalty Owners Association (TIPRO) said in its latest State of Energy report, which was released this week, highlighting that this figure was 'an increase of nearly $5 billion compared to the previous year.' Texas had the highest oil and gas payroll in the country in 2024, according to the report, which pointed out that this figure stood at $62 billion. The report outlined that California was 'a distant second' with an oil and gas payroll figure of $15 billion, and that Louisiana was third, with an oil and gas payroll figure of $10 billion...The number of U.S. oil and gas businesses totaled 165,110, subject to revisions, TIPRO’s latest report stated. It highlighted that direct oil and natural gas Gross Regional Product exceeded $1 trillion last year and said the U.S. oil and natural gas industry purchased goods and services from over 900 different U.S. industry sectors in the amount of $865 billion in 2024...The report noted that, in 2024, direct Gross Regional Product for the Texas oil and natural gas industry was $366 billion. It added that, 'once you incorporate the typical multiplier of 2.5x, the Texas oil and natural gas industry supported 38 percent of the Texas economy.'"
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