2 | GLENN HEGAR, TEXAS COMPTROLLER OF PUBLIC ACCOUNTS A Message from the Comptroller The 88th Texas Legislature had an unprecedented budget surplus that allowed lawmakers to invest in initiatives vital to a strong and healthy economy. Some of these initiatives include investments in the state’s critical infrastructure, which improve the lives of Texans in both the near and long term. This month’s issue of Fiscal Notes dives into recent funding initiatives that are meant to meet the needs of our diverse state, including significant investments in strengthening transportation, improving the reliability of our power grid, increasing access to broadband and protecting the state’s water supply. Our roadways are feeling the strain of our rapid population growth. The Legislature will appropriate billions of dollars over the next two years for public roadway construction and maintenance. Airports, public transportation and the state’s shipping channels also will receive funding. In November, Texas voters will have the opportunity to approve a constitutional amendment creating the Texas Energy Fund, which would offer low-interest loans and grants toward innovative energy projects. The measure would also help provide power reserves for schools, hospitals, nursing homes and community centers. (This is a good opportunity to mention my Good for Texas Tour: Energy Edition. Over the coming months, I will tour a handful of energy facilities including natural gas-powered electricity producers, wind farms and nuclear power plants, and share important insights.) Here’s a figure that should make you do a double take: Nearly 7 million Texans don’t have access to reliable highspeed internet. Recent appropriations by the Legislature and availability of federal funding will give the state the flexibility to meet the needs of our unique population and to bridge the digital divide. Innovations in water management are critical to our state’s economy. In this issue, we also examine my office’s new report, Texas Water: Present and Future Needs, and the water strategies designed to keep Texas afloat. As drought conditions continue to impact our state, water planning and management will play key roles in ensuring this precious resource is available for future generations of Texas families and businesses. As always, I hope you enjoy this issue! Glenn Hegar Texas Comptroller of Public Accounts Statewide Snapshot THE GOOD FOR TEXAS TOUR: ENERGY Texas not only is the top producer of oil and natural gas in the nation but also produces more electricity than any other state and accounts for 11.5 percent of all U.S. energy jobs. Texas’ energy portfolio is made up of an array of energy sources: OIL AND NATURAL GAS COAL WIND SOLAR NUCLEAR HYDROELECTRIC BIOMASS Texas Energy Sources In 2022, Texas produced: •27 percent of natural gas in the U.S. •26 percent of all U.S. wind-powered electricity generation, more than any other state. • 42 percent of the U.S. crude oil supply. Texas Energy Production Texas produces more than twice the amount of energy than any other state. WEST VIRGINIA NEW MEXICO WYOMING PENNSYLVANIA TEXAS 0 5,000 10,000 15,000 20,000 25,000 WIND SOLAR, THERMAL AND PHOTOVOLTAIC NUCLEAR NATURAL GAS COAL TRILLIONS OF BTU PRODUCTION LESS CONSUMPTION TOTAL PRODUCTION MEGAWATT HOURS IN MILLIONS 0 100 200 300 400 500 2021 2012 2013 2014 2015 2016 2017 2018 2019 2020 TEXAS NET GENERATION BY SOURCE, ANNUAL TOTAL ELECTRIC POWER INDUSTRY TOP 5 STATES FOR ENERGY PRODUCTION, 2021 Energy Economics in Texas JOBS, 2022 936,477 GROSS DOMESTIC PRODUCT, 2021 $100.3 BILLION IN 2021, TEXAS PROVIDED NEARLY ONE FOURTH OF U.S. DOMESTIC PRODUCED ENERGY. Source: U.S. Energy Information Administration If you would like to receive a paper copy of Fiscal Notes, contact us at fiscal.notes@cpa.texas.gov. DEALERS’ CHOICE 28
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