Would oil industry taxes lead to Texas job cuts?
The oil and gas industry is still incredibly important to the every state in America, despite increasing pressure to make the future of US energy more sustainable through renewable sources. But in very few places, if any, are fossil fuels more important than Texas – a state where more than 300,000 people work in the industry, which generates almost seven percent of the wages in the state. There is currently great concern within the state, so famous for its affiliation with oil, over the imminent carbon reducing regulations that look to penalise companies for excessive carbon emitting. In Texas it is the small businesses that keep the sector alive, but this is also a trend found throughout the US. More than 90 percent of the wells the United States are operated by small and independent businesses, and even the major energy companies rely on small businesses as suppliers and contractors. It is the cooperation between the large and the small companies that help to reduce the nations depen
