page_title: Economy of Texas
section_title: Energy
hierarchical_section_title: Economy of Texas / Industries / Energy
caption_attribution_description: English: A pumpjack in Texas.Français&#160;: Chevalet de pompage au Texas, États-Unis.
context_page_description: The economy of Texas is the second largest in the United States. It has a gross state product of $1.887 trillion third most after New York and California). In 2017, Texas grossed more than $264.5 billion a year in exports—more than the exports of California ($172 billion) and New York ($77.9 billion) combined.
  As a sovereign country (2016), Texas would be the 10th largest economy in the world by GDP (ahead of South Korea and Canada). Texas's household income was $48,259 in 2010 ranking 25th in the nation. The state debt in 2012 was calculated to be $121.7 billion, or $7,400 per taxpayer. Texas has the second largest population in the country after California.
context_section_description: Texans consume the most energy in the nation both in per capita and as a whole. Texas is a global leader in the energy industry and Houston is the petroleum capital of the world. Since 2003, Texas state officials have created various initiatives like the Texas Enterprise Fund and the Texas Emerging Technology Fund to develop the economy of Texas.
caption: An oil well.
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