Bloomberg: "US Oil Boom Towns Risk Ghost Town Futures"
This feature story cites RFF research several times in a story about the effect of the energy transition on Texas oil towns.
In absolute dollar terms, California is the state with the second-most government revenue coming from fossil fuels at $7.82 billion, according to research from Resources for the Future, a Washington think-tank. On a per-capita basis, Wyoming tops the list, with more than $7,000 in annual revenues per resident.
But it’s Texas that stands out as having the most to lose. Even after rapid diversification in its economy over the last several decades, the state still generates almost $15 billion annually from fossil fuels, the most in the nation. That’s about 7% of all state and local own-source revenue, the Resources for the Future data show.
Daniel Raimi is a fellow and director of the Equity in the Energy Transition Initiative at RFF where he works on a range of energy policy issues with a focus on tools to enable an equitable energy transition.
Sophie Pesek is a research analyst for the Climate Risks and Impacts and Adaptation and Resilience programs at RFF.