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Oil Industry Spreads Wealth Across Texas Counties
The oil sector touches 245 of Texas 254 counties through leasing exploration and indirect spending. Dry holes still support employment, with landowners receiving 50 million dollars in lease rentals and bonuses last year. Local governments and the state rely heavily on oil revenues, with up to 90 percent of some counties' tax income from oil and 45 percent state tax intake, totaling 32 million dollars in 1938 and 9.3 cents tax per barrel.
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