Thanks to its affordability and strong energy-oriented economy, Texas has seen a population boom.
But according to Business Insider, the coronavirus pandemic is hurting Texas's oil industry hard.
Consequently, its economy is hurting, too.
Against the backdrop of a Saudi Arabia-Russia oil pricing war, oil prices have dropped from $58 to $20 a barrel.
Texas loses out on $85 million per year in tax revenue for every $1 decline in oil price.