Tribpedia: Economy

With a civilian labor force of more than 12 million and a gross state product of $1.22 trillion in 2008, Texas has the second largest economy in the United States and the 15th largest in the world. The Federal Reserve Bank of Dallas is one of many agencies that keeps track. The state comptroller stays up with key statistics.

Texas Supreme Court Grapples With Billion-Dollar Question

Pipes used for fracking are shown in front of a Fasken OIl and Ranch drilling rig outside of Midland on Oct. 8, 2013.
Pipes used for fracking are shown in front of a Fasken OIl and Ranch drilling rig outside of Midland on Oct. 8, 2013.

With billions of dollars at stake, the Texas Supreme Court heard arguments Tuesday in a tax showdown whose outcome could shake up the next legislative session while providing a boost to struggling petroleum drillers. The justices offered few clues as to how they might rule.

An oil driller had filed a lawsuit over sales tax refunds. Texas Comptroller Glenn Hegar's office warned that a Texas loss could have spurred up to $4.4 billion in refund filings for 2017 alone.
An oil driller had filed a lawsuit over sales tax refunds. Texas Comptroller Glenn Hegar's office warned that a Texas loss could have spurred up to $4.4 billion in refund filings for 2017 alone.

Billions At Stake for State in Tax Challenge

The Texas Supreme Court on Tuesday will hear arguments in a case that could deliver a multibillion-dollar windfall to struggling oil and gas producers, threatening to take a major bite out of state revenue.   

 

Oncor CEO Bob Shapard testifies before the Texas Public Utility Commission on Jan. 11, 2016. He expressed concerns over the Hunt family's plan to buy Oncor, the state's largest electric utility.
Oncor CEO Bob Shapard testifies before the Texas Public Utility Commission on Jan. 11, 2016. He expressed concerns over the Hunt family's plan to buy Oncor, the state's largest electric utility.

Oncor: Hunt's Possible Merger Could Boost Rates

Oncor, the state’s largest utility, is warning state regulators that electric rates could increase for millions of Texas customers if they approve a complex reorganization plan offered by the Ray L. Hunt family.

 

An oil driller had filed a lawsuit over sales tax refunds. Texas Comptroller Glenn Hegar's office warned that a Texas loss could have spurred up to $4.4 billion in refund filings for 2017 alone.
An oil driller had filed a lawsuit over sales tax refunds. Texas Comptroller Glenn Hegar's office warned that a Texas loss could have spurred up to $4.4 billion in refund filings for 2017 alone.

Oil Driller's Lawsuit Could Cost Texas Billions in Tax Refunds

What is the definition of "tangible personal property?" The arcane question is at the center of a lawsuit that could reap energy companies a multibillion-dollar windfall and drain the state's budget surplus.

State Comptroller Glenn Hegar says his revenue estimate to divvy up for the 2016-17 budget will be about $113 billion.
State Comptroller Glenn Hegar says his revenue estimate to divvy up for the 2016-17 budget will be about $113 billion.

Hegar Calls Moody's Dour Texas Budget Report "Unfounded"

Comptroller Glenn Hegar launched a torrent of criticism at Moody’s Investors Service on Thursday after the credit rating agency released a report suggesting a drilling slowdown could eat up a projected $4 billion budget surplus by December.

During a stop at the Spindletop Museum in Beaumont, U.S. Sen. Ted Cruz pitched his energy policy bill, which he calls the American Energy Renaissance Act.
During a stop at the Spindletop Museum in Beaumont, U.S. Sen. Ted Cruz pitched his energy policy bill, which he calls the American Energy Renaissance Act.

With Eminent Domain Attack on Trump, Ted Cruz Walks Fine Line

Despite a recent ad bashing Donald Trump for employing eminent domain for a parking lot, Ted Cruz has backed the Keystone XL and other pipeline projects that would use the same controversial tool to displace landowners.

 

Oncor CEO Bob Shapard testifies before the Texas Public Utility Commission on Jan. 11, 2016. He expressed concerns over the Hunt family's plan to buy Oncor, the state's largest electric utility.
Oncor CEO Bob Shapard testifies before the Texas Public Utility Commission on Jan. 11, 2016. He expressed concerns over the Hunt family's plan to buy Oncor, the state's largest electric utility.

Oncor Airs Concerns with Ray Hunt Takeover Plan

Top officials at Oncor, Texas’ largest electric utility, aired concerns on Monday with Dallas billionaire Ray L. Hunt’s $18 billion proposal to take over and reshape their company.

Physicist Paul Chu, head of the University of Houston's Center for Superconductivity, speaks at a research summit organized by the Academy of Medicine, Engineering and Science of Texas on Nov. 13, 2015.
Physicist Paul Chu, head of the University of Houston's Center for Superconductivity, speaks at a research summit organized by the Academy of Medicine, Engineering and Science of Texas on Nov. 13, 2015.

Texas Scientist Aims to Revolutionize Electricity Grid

Paul Chu, founding director and chief scientist at the University of Houston’s Texas Center for Superconductivity, discusses how energy storage could revolutionize the grid, and how Texas plays a role in advancing the technology.