It's legendary: in 1901, an oil derrick called Spindletop in Beaumont, Texas sent a gusher in the air that made headlines all over the world. Today, Texas leads the nation in petroleum refining and chemical products production and is a global leader in the closely related petrochemical industry.
#2 on the Fortune 500: Texas is home to ExxonMobil, headquartered in Irving, Texas, providing oil, gas and chemicals to the world. It is second in the Fortune 500 companies.
Houston, Energy Capital of the World: Texas is home to over 50 energy-related companies on the Fortune 1000 list. More than 3,700 energy-related establishments are located within the Houston Metropolitan Statistical Area,.-Greater Houston Partnership
5.1 million barrels a day to fuel America: As of January 2015, the 27 petroleum refineries in Texas had a capacity of over 5.1 million barrels of crude oil per day and accounted for 29% of total U.S. refining capacity. –U.S. Energy Information Administration (EIA). Texas accounted for about 29% of U.S. marketed natural gas production in 2014, making it the leading natural gas producer among the states. EIA In Nov. 2015, Texas Crude Oil Production accounted for 36.5% of U.S. total production. EIA
Well-paid consumers: The average yearly wage in Texas' refining and chemical manufacturing industry is $95,000.
A high-energy workforce: With 100,000 workers employed, Texas is home to the largest petrochemical cluster in the world.
The stuff everything is made of: Houston alone accounts for over 40 percent of the nation's base petrochemical capacity.
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