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Texas tea 

The term "Texas Tea" was originally used to describe oil, and was popularized by the hit 1960s television show, The Beverly Hillbillies: "Oil that is, black gold, Texas tea."

Today, the term can also be found in your local bar as it represents the name of a mixed drink, also by the same name:

Texas Tea:

2 oz Tequila
2 oz Rum
2 oz Vodka
2 oz Gin
2 oz Bourbon Whiskey
2 oz Triple Sec
2 oz Sweet and Sour Mix
Coca-Cola
Then one day he was shootin at some food,
And up through the ground came a bubblin crude. Oil that is, black gold, Texas tea.
Texas tea by Giskard July 6, 2004

Texas tea 

West texas light crude oil, esp. if discovered by a hillbilly named Jed.
Listen to a story about a man named jed a poor mountaineer barely kept his family fed then one day he was shooting at some food and up from the ground came a bubbling crude. Oil that is. Black gold. Texas tea.
Texas tea by Jethro July 6, 2004

Texas tea 

Historically speaking, "texas tea" was an anarchonistic definition of oil during the oil rush in Texas. "Black gold" is a synonym.

I believe it was phrased very early on in 20th century pop culture.
They struck the ol' texas tea, lucky sumbitches movin' on to Dallas.
Texas tea by Dis July 6, 2004

Texas tea 

Slang term for crude oil, which is a resource located in Texas as well in other parts of the world.
"...and then one day he was shootin' at some food, and up from the ground came bubblin' crude. Oil that is: black gold, texas tea..."
Texas tea by Chairman July 6, 2004

Texas tea 

Oil. Crude Oil to be specific. First made popular when there were major oil strikes in Beaumont Texas. Then made popular on the television show The Beverly Hillbillies
We're pumping out 100,000 barrels of that Texas Tea these days.
Texas tea by Row July 6, 2004

Texas tea 

Unrefined crude oil, the black stuff that comes out of the ground.
Made famous by the old sixties TV show, "The Beverly Hillbillies." The theme song goes:

Gonna tell you a story 'bout a man named Jed / poor mountaineer barely kept his family fed/ then one day he was shootin' up some food/ and up from the ground come bubblin' crude/ oil that is, black gold, Texas Tea."
Texas tea by Dr. A July 6, 2004