According to a recent report, the average state tax revenue from oil and gas production is about $34 billion annually. One study predicts that to fall by two-thirds by 2050 if the U.S. sticks to its decarbonization plans.
“Oil and gas money is so embedded in many local budgets, it’s difficult to imagine a future without it,” a recent New York Times article said.
States and municipalities utilize oil and gas revenue to fund everything from infrastructure to schools and even parks. Oil-rich states...
https://www.freightwaves.com/news/how-states-are-navigating-the-loss-of-oil-and-gas-income