I believe it was phrased very early on in 20th century pop culture.
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:
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
And up through the ground came a bubblin crude. Oil that is, black gold, Texas tea.
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."