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Texas sitting on $140 billion in oil wealth

Posted By -NO AUTHOR- On 03/20/2014 @ 10:35 pm In Money,U.S. | No Comments

(OilPrice) A new report finds that Texas holds an estimated $140 billion in “petro-wealth” in proved reserves. About $110 billion of that total is owned by corporations, $22 billion owned by individuals, $5 billion by trusts, and the remaining $3 billion owned by non-profits, government, and educational and religious institutions. The figure assumes a price of $94.89 per barrel. The biggest share of the oil wealth – around $47 billion – is located near Houston.

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