Oil and gas taxes fund Texas government amid rising costs
The 1958 Texas Comptroller report shows oil and gas production taxes totaling about 178.0 million dollars, with natural gas taxes at 41.97 million and regulatory taxes near 1.7 million. Oil producers paid roughly 128.2 million in crude oil taxes. overall spending rose faster than income, prompting calls for new revenue sources while oil taxes remain a major state support.
MENTIONED IN THIS ARTICLE
Texas Oil and Gas Producers
Las
Alcorn
Texas
Oil and Gas Taxes Dominate Texas Revenue Picture
The Port Isabel Press notes oil and gas taxes total about 197 million dollars, roughly 30 percent of state tax intake, with industry taxes far outweighing other business and property taxes. Locally, 3,000 taxing districts collected 517 million in property taxes, of which petroleum paid about 154 million. Petroleum funds support 45 percent of state school costs, with many districts receiving over half of local taxes from oil properties. The industry also funds royalty earnings for the state, including 616 million into Permanent School and University Funds to date.
MENTIONED IN THIS ARTICLE
Association
Texas
Texas Mid-Continent
Permanent School Fund
Permanent University Fund
University of Texas
Humble Company
Humble
Florida
California
Oregon
Washington
Alaska
United States
Humble Pipe Line Company
Gulf Coast
Baytown
Humble Research
Petroleum powers American industry and daily life
The piece argues that oil and natural gas fuels most major modern advances, supplying 75 percent of U S energy, backing transportation, power, and defense. It notes petrochemicals create rubber plastics fabrics and drive growth of a vital domestic industry, with ongoing gains in efficiency and living standards.
MENTIONED IN THIS ARTICLE
United States
American Indust Petroleum
Summer Tourists Bring $10,000,000 To Valley Annually
The Valley Chamber of Commerce estimates summer tourism including vacationers, conventions, and Mexico bound traffic brings in about 10 million dollars yearly. Hotels report gains of 2 to 35 percent with some deluxe properties near full capacity, while others note declines up to ten years. Local officials say short term travelers and Mexico bound traffic complicate precise measurements.
MENTIONED IN THIS ARTICLE
Chambers of Commerce
Wilson
Chamber of Commerce
The
Valley Chamber
Mexico
Valley
Chevrolet 1959 Models Highlight Design and Engine Advances
The new Chevrolet line increases glass area by 1189.5 square inches over 1958 sedans and raises overall visibility by up to 50 percent. Twin headlamps shift lower, hidden fuel filler moves under the V wings, and distinctive trims define Impala, Biscayne, Bel Air and Nomad options with multiple engines from 235 to 348 cubic inches and Ramjet fuel injection.
Also Mentioned on This Page
GAS
Charles W. Alcorn
Houston
Isabel
John Cox
Sweetwater
Exas
Jack Bartholomew
Port Isabel
Humble Oil & Refining CO
Weslaco
Minor Wilson
Publicity, Advertising and Tourist Committee
Valley Chamber of Commerce
Padre Beach
Vistori
South Padre Island
Sandy Retreat Resort
Motor Hotel
Fun
Isla Blanca Park
Isla Blanca
Beach Cabanas
John L. Tompkins
Lucille Poe
Esperanza St
U. S
Los Fresnos
Los Fresnos, Texas
Member
Federal Deposit Insurance Corporation
EL Padre
A.A
Padre Island
S. J. Waugh
McAllen Branch
Causeway - Padre Bivd
Chevrolet
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