Whether the kids are at home or in the classroom, school supplies are expensive! Treat yourself to back-to-school supplies with a prepaid $100 gift card - brought to you by Texas Oil and Natural Gas! #FuelingOurFuture
While back-to-school circumstances might look different this year, one thing has remained constant - the meaningful impact the Texas oil and natural gas industry has had in the success of our state's education system.
Billions of dollars from Texas oil and natural gas activity is paid each year into our state's Permanent School Fund and Permanent University Fund. The Permanent School Fund recently became the largest educational endowment in America and is valued at over $44 billion - money that will be available for our state's public schools in perpetuity. And because of the money generated by West Texas oil and natural gas, UT Austin is using millions from the Permanent University Fund to offer free tuition to students with family income less than $65,000 starting next year.
The Texas oil and natural gas industry also pays property taxes to independent school districts, accounting for millions of dollars each year for public schools in the state. In some communities, the oil and gas share of the school district's tax base tops 70, 80 and even 90 percent - money that is used to enhance learning, upgrade technology and safety equipment, and hire and retain the best teachers.
Beyond tax dollars and royalty payments, the Texas oil and natural gas industry is investing untold time, talent and treasure in Texas schools and their students and teachers through innovative education programs and productive partnerships aimed at providing a state-of-the-art education for the next generation of Texans.
As the Texas oil and natural gas industry grows to meet the energy demands of our state and nation, so does the need for future generations of Texans to fill the various roles required to see this growth continue. Through high-quality, innovative, hands-on educational opportunities, Texas oil and natural gas companies are ensuring that even more Texans will have the opportunity to work in an industry that is growing our economy, securing our future, and making life better for people here in Texas and across the world.Sign up