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CHAPTER FIVE
Natural Gas
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Exhibit 5-2

Oil and Gas Industry Gross State Product and Taxable Natural Gas Price
(dollars per thousand cubic feet)
Year Real Natural Gas Price, per Mcf
(adjusted to 2007 dollars)
Oil and Gas as Percentage
of Total Gross State Product
1975 $2.09 18.2%
1976 $2.53 18.8%
1977 $2.92 19.1%
1978 $2.94 18.8%
1979 $3.24 19.3%
1980 $3.59 24.0%
1981 $4.06 26.3%
1982 $4.40 24.3%
1983 $4.64 20.9%
1984 $4.49 19.2%
1985 $4.09 18.4%
1986 $2.85 13.2%
1987 $2.46 13.9%
1988 $2.50 16.0%
1989 $2.44 14.6%
1990 $2.36 15.6%
1991 $2.10 12.8%
1992 $2.29 11.1%
1993 $2.55 10.6%
1994 $2.24 10.4%
1995 $1.90 10.4%
1996 $2.60 11.0%
1997 $2.69 10.2%
1998 $2.16 7.8%
1999 $2.39 7.4%
2000 $4.17 9.1%
2001 $4.15 8.8%
2002 $3.21 8.1%
2003 $5.12 10.2%
2004 $5.59 11.9%
2005 $7.15 12.6%
2006 $6.01 13.0%

Note: BEA data supplementary only.

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

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