Earlier quoted context omitted.
Yes, California is third on a list where Texas is 1st. I don't think that disproves my point. Texas produces 35% of the country's crude oil. In March of 2017, California produced 14,907,000 barrels of crude oil. Texas produced 102,443,000. That's 7x more. Play that against the fact that Texas' GDP is 2/3rd of California's. Oil has a massive impact in Texas that it simply doesn't have in California.
Texas and California are diversified economies. Texas is more exposed to the oil & gas industry. However, it is still not a petrostate. Which state is the closest to being a petrostate? Alaska (25% exposure). It is very easy to validate this. Look at the price of oil. It has taken a massive beating over the last years. Oil Price History: https://fred.stlouisfed.org/series/DCOILWTICO/ If the state is truly a petrostat…
No, it's not literally a petro-state. I stand by my point that it is not a reproducible model for other states.