Texas

Texas is a state in the southern United States, with its capital in Austin. With a population exceeding 30-million, it is the second-most populous and second-largest state by area in the country. Texas has a highly diversified economy dominated by energy, technology, agriculture, manufacturing and trade. The state is the leading oil and gas producer in the US, home to the Permian Basin and other major hydrocarbon-producing regions, and hosts a significant portion of the nation's refining and petrochemical capacity. Houston serves as the energy capital and largest city, while Dallas and San Antonio are major economic centres. Texas operates under a business-friendly regulatory environment and has no state income tax, attracting substantial corporate investment and population growth. The state's vast mineral resources, including oil, natural gas and emerging lithium reserves in oilfield brines, underpin its strategic importance to US energy security and the energy transition. Texas is also a major exporter, with ports along the Gulf of Mexico facilitating international trade. The state joined the Union in 1845 and has since evolved into one of the most economically significant jurisdictions in North America.