wow... @tedcruz is dunking on @LondonBreed @GavinNewsom & @chesaboudin
literally taking California's frontier philosophy of opportunity, creative destruction, competition, freedom & capitalism & claiming it for Texas
This is REALLY well done.https://twitter.com/SenTedCruz/status/1338618290151841794?s=20 …
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It is ok Texas need this. There are counted days till Oil will no longer provide them a financial protection. I am glad that Austin is becoming an important tech hub for Texas and U.S.
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Replying to @ArkadiuszKula @Jason and
Oil production taxes would account for 6.1% of the budget, and 1.5% of Texas jobs. It’s important but not dependent.
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Replying to @Lost_Signal @Jason and
But it generate 9% of states GDP. For comparison for Norway this is 18%. So, I would say oil is a significant part of Texas economy.
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Replying to @ArkadiuszKula @Jason and
Currently, but I remember $15 a barrel oil and gas at 89 cents a gallon. We are far from being a petrol state given how the shocks in the 80’s (oil, and savings and loan) forced us to adapt.
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Replying to @Lost_Signal @ArkadiuszKula and
Alaska meanwhile on paper appears to be a petrol state.
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If I’m not mistaken Texas oil tax revenues go to the highway fund and rainy day fund. I thought it didn’t directly go to the budget. Austin is a bit better at budgeting than Caracas.
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