The Oil Business and Real Per Capita Gross State Product (GSP) in Texas, 1977-2007*
GSP chart.
long description of chart

Per capita gross state product (GSP) describes the value of a state's total economic output per person. The Texas oil boom of the 1970s and early 1980s drove per capita economic output in Texas well above the national average. But per capita GSP in Texas crashed with the oil bust of the mid to late 1980s. Since then productive output in the Texas economy has closely tracked output elsewhere across the nation.

Source: Bureau of Economic Analysis; Census Bureau. (full source, footnote)