8. Offshore Drilling in the Gulf of Mexico
Beginning in the 1940s, Texas oil companies expanded into offshore drilling in the Gulf of Mexico, leading technological innovations and significant discoveries. The Gulf has since become the nation’s primary offshore source of oil and gas, generating about 97% of all U.S. Outer Continental Shelf (OCS) oil and gas production. In fiscal year 2021, offshore oil and gas activities in the Gulf contributed $4.1 billion in revenues to the U.S. Treasury (boem.gov).
