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The known petroleum deposits of Texas are about 8 billion barrels (1.3 × 10 9 m 3), which makes up approximately one-third of the known U.S. supply. Texas has 4.6 billion barrels (730,000,000 m 3) of proven crude oil reserves. [15] As wells are depleted in the eastern portions of the state, drilling in state has moved westward. [16]
The economy of Houston is based primarily on the energy industry, particularly oil.However, health care, biomedical research, and aerospace also constitute large sectors. In 2021, the gross domestic product (GDP) of the Houston–The Woodlands–Sugar Land metropolitan statistical area (MSA) was 537 U.S. dollars billion, the fourth-largest of any metro area in the United States. [1]
Nationwide data from the U.S. Energy Information Administration [7] shows that Texas's electric prices did rise above the national average immediately after deregulation from 2003 to 2009, but from 2010 to 2015, prices dropped significantly below the national average price, with a total cost of $0.0863 per kWh in Texas in 2015 vs. $0.1042 ...
A 2021 Texas law designed to protect the energy and firearms industries is costing the state hundreds of millions of dollars in business-related activity while increasing costs for state and local ...
Consumption in 2023 was mostly for industry (33%) and transportation (30%), with use in homes (20%) and commercial buildings (17%) making up the remainder. [5] [6] The United States' portion of the electrical grid in North America had a nameplate capacity of 1,280 GW [7] and produced 4,029 TWh [8] in 2023, using 34% of primary energy to do so. [9]
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Based on the report, E&E News and The Guardian found households with annual incomes above $100,000 claimed energy tax credits such as the home production and efficiency credits at higher rates among their cohort, about 1.6-4 percent of all such filers, compared to those earning below, at about 0.7-0.9 percent of all such filers. Wealthier ...
The July 12 paper featured an important front-page article on Texas’ role in the post-Roe battle. (“How Texas may be pivotal in the next post-Roe battle”) Too bad it displayed such a bias ...