In 2007, the state of Texas produced 1,251,000 barrels per day. This is by a long shot, the largest producing oil state. I would gather from the amount of oil they produce that they make the most money.
In 2010 Texas is #2 after Louisiana. Amount of oil production does not translate directly to state (government) income. The states get taxes, royalties (for oil produced on state land), and other revenue related to oil production, and those who work for oil companies of course pay taxes on their incomes, and the companies pay corporate taxes as well.
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