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CHAPTER FOUR
Crude Oil
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Exhibit 4-2

Texas Oil and Gas Industry Percentage of Gross State Product and Taxable Price of Oil
(per Barrel, 2007 Dollars)
Year Oil and Gas as
Percentage of Total GSP
Taxable Price of Oil
per Barrel
1972 14.4% $3.48
1973 14.4% $4.1
1974 17.7% $6.91
1975 18.2% $7.81
1976 18.8% $8.18
1977 19.1% $8.48
1978 18.8% $9.27
1979 19.3% $12.59
1980 24.0% $22.16
1981 26.3% $34.65
1982 24.3% $31.67
1983 20.9% $29.26
1984 19.2% $28.82
1985 18.4% $26.77
1986 13.2% $14.73
1987 13.9% $17.54
1988 16.0% $14.71
1989 14.6% $17.84
1990 15.6% $22.35
1991 12.8% $19.05
1992 11.1% $18.4
1993 10.6% $16.23
1994 10.4% $15.08
1995 10.4% $16.45
1996 11.0% $20.41
1997 10.2% $18.76
1998 7.8% $12.36
1999 7.4% $17.39
2000 9.1% $28.72
2001 8.8% $23.74
2002 8.1% $24.36
2003 10.3% $29.36
2004 13.1% $38.94
2005 14.4% $52.71
2006 14.9% $61.51
2007 15.7% $68.48

Source: U.S. Bureau of Economic Analysis and Texas Comptroller of Public Accounts.

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