I don't understand how people don't see this for what it is. It's a political response to drag queen story time and spicy books at the school library.
Who knows where it will end, I'd prefer it if everyone stopped using children to further their agenda.
Texas already owns all its oil, including ocean mineral rights. This was part of the terms of statehood.
They were allowed to keep their unallocated lands and mineral rights in order to pay off their debts and become a state, rather than the United States assuming the debt.
This turned out to be a huge financial boon for the state and continues to be.