Question

Higher education to texas has benefited most from what industry

Answer 1

More than a half billion dollars annually have been contributed by the oil and natural gas industry to the state’s Permanent School Fund. Texas K-12 public schools have been supported by this Fund. Aside from this, oil and natural gas severance taxes almost exclusively support and fund the state’s Rainy Day Fund.  The second largest education endowment in the United States which is worth $34.5 billion is the Texas Permanent School Fund.  In the fiscal year of 2015, $1.96 billion in oil and natural gas mineral property tax revenue has been received by the Texas independent school districts or the ISDs. Along with this, counties have also been receiving $632 million in oil and natural gas mineral property tax revenue.