What is the interrelationship among the permanent university fund (PUF), the oil industry, and Texas major universities?
1) The oil industry pays taxes from which the PUF receives revenue. Then the PUF distributes some of the revenue to Texas major universities. And then those universities conduct research that benefits the oil industry.
2) Texas major universities pay taxes from which the PUF receives revenue. then the PUF returns some of the revenue to the universities. And then those universities conduct research that benefits the oil industry.
3) The PUF levies taxes on Texas oil industry. Then the PUF uses some of the revenue to fund Texas major universities. The universities conduct research that benefits the oil industry.
4) Texas major universities pay taxes to the oil industry to fund research. Then the universities conduct research for the oil industry. The PUF manages the revenue and expenses for that research.
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