POSTED: Monday, April 9, 2012 - 4:30am
UPDATED: Monday, April 9, 2012 - 4:44am
Austin — The combined forces of high oil prices and improved drilling technology have produced a gush of unexpected tax dollars from oil and gas wells across Texas.
Six months into the state's budget year, taxes paid on natural gas production are up 73 percent over the same period last year, while revenue from the oil production tax is up 49 percent.
Together, oil and gas taxes so far have brought in a total of $1.8 billion. That amounts to $684 million more than in the first half of last year.
For more on this story, head to the Austin American Statesman at http://www.statesman.com/news/texas-politics/texas-oil-and-gas-boom-may-help-ease-2289617.html