CHAPTER FOUR
Crude Oil
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Exhibit 4-2
| 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.