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Author Topic: Oil-and-gas lease sales generating big bucks for Texas schools Back to Topics
bar1035
Champion Author
Charlotte

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Message Posted: Apr 3, 2013 9:12:30 AM

Texas public schools will share more than $9 million as a result of oil-and-gas exploration on state lands.

Private companies have competitively bid more than $11.5 million to acquire leases that give them the right to explore for oil and gas on state-owned land. The majority of that amount, $9.2 million, was for leases tied to Permanent School Fund land.

The General Land Office holds quarterly lease sales. Oil-and-gas firms submit sealed bids for the right to drill for hydrocarbons on Permanent School Fund lands. The Permanent School Fund will also earn 20 to 25 percent royalties on any oil or gas produced on the leases.


Visit San Antonio Business Journal for full article
REPLIES (newest first) Post a Reply
NedW
Champion Author Indianapolis

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Message Posted: Apr 4, 2013 8:27:21 AM

Thank you for submitting this article, bar1035.
blupupher
Champion Author Houston

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Message Posted: Apr 4, 2013 8:24:14 AM

good
DanMtz
Champion Author Oakland

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Message Posted: Apr 3, 2013 7:41:19 PM

Woohoo, raises all around!
Gnusman53
Champion Author San Diego

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Message Posted: Apr 3, 2013 1:34:08 PM

As to Texas... they hard at work trying to be the "best" Dumb and Dumber state.. (grin)
Gnusman53
Champion Author San Diego

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Message Posted: Apr 3, 2013 1:33:16 PM

Wrong HMW.... remember the Hissy fit oil companies had about paying the same tax they pay in Oklahoma several years ago? They spent more than $50 million in a campaign to defeat it......

hmw10284
Champion Author California

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Message Posted: Apr 3, 2013 1:09:47 PM

California could wipe out its budget deficit (and get a huge surplus) by selling oil leases within the state but the dems would have to give up control of the state for that to happen. They are owned by the 'greenies' so can't be seen to do anything that may harm (or may not harm) the environment. As a result they have to threaten to close schools and lay off teachers, police and fire fighters so they can raise taxes on the rich. They did such a good job holding people hostage (and lying about who would and wouldn't be taxed) that the people voted huge tax increase on every person who lives in the state.
nsdp
Champion Author San Antonio

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Message Posted: Apr 3, 2013 1:09:30 PM

It is a drop in the bucket compared to the $1.2 billion that Universities took in 2011 and $4 billion that the public schools took in 2011. Neither the governor nor the legislature has seen fit to restore those funds. That is why Texas now ranks 49th in public education behind Alabama.

[Edited by: nsdp at 4/3/2013 1:10:35 PM EST]
teenitup
Champion Author Houston

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Message Posted: Apr 3, 2013 11:44:48 AM

$9.2 to the states universities is no "drop in the bucket".
Luckylindy
Champion Author Milwaukee

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Message Posted: Apr 3, 2013 10:51:11 AM

9 mil? Drop in the bucket.
Eagle3236
Champion Author Missouri

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Message Posted: Apr 3, 2013 10:34:48 AM

This is not enough! We need to build the KEYSTONE PIPELINE and more refineries putting people to work!
mastermariner
Champion Author Texas

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Message Posted: Apr 3, 2013 10:23:27 AM

Yet my school tax hasn't gone down
Gtownhog
Veteran Author Memphis

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Message Posted: Apr 3, 2013 10:20:42 AM

Better than taxing homeowners.
OTISFL
Champion Author Pensacola

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Message Posted: Apr 3, 2013 10:19:34 AM

Great---as long as the money goes for WISE education purposes, not new furniture and crap like that. Our edcuation system has gone totlly down the tubes.
Bttlecat
Champion Author Oklahoma City

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Message Posted: Apr 3, 2013 10:06:26 AM

gg their 'fair share'
MiataPrincess
Champion Author Des Moines

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Message Posted: Apr 3, 2013 9:56:38 AM

now if they spend it wisely
drpepperTX
Champion Author Texas

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Message Posted: Apr 3, 2013 9:49:24 AM

Even Liberals should like this! After all, it says the universities will "share"!
txequitygas
Champion Author Houston

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Message Posted: Apr 3, 2013 9:45:15 AM

yes!
deputydog082
Champion Author Detroit

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Message Posted: Apr 3, 2013 9:35:30 AM

good source of $$$$
bsnort
Champion Author Huntsville

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Message Posted: Apr 3, 2013 9:34:50 AM

@ VMIJim - amen!
fora_7
Champion Author Montreal

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Message Posted: Apr 3, 2013 9:33:25 AM

Good for them.
VMIJim
Champion Author Alabama

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Message Posted: Apr 3, 2013 9:33:07 AM

This is what happens in a conservative state that has its priorities in order rather than the Obama & Dem agenda of out of control spending & no concern for us at the pump or in everyday life.
bruin19MD
Champion Author Maryland

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Message Posted: Apr 3, 2013 9:24:46 AM

great article
Taxrefugee
Champion Author Arizona

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Message Posted: Apr 3, 2013 9:18:05 AM

Helps keep school taxes down. Good news.
amoshins
Champion Author Trenton

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Message Posted: Apr 3, 2013 9:15:32 AM

Maybe this can offset school taxes? Wishful thinking, I know.
doeslayersr
Champion Author Illinois

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Message Posted: Apr 3, 2013 9:14:10 AM

Good for the tax payers.
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