Tag Archives: extraction tax

An oil well pumps at sunrset in western North Dakota's Bakken Formation. Forum News Service file photo

Over the Past Five Years North Dakota’s Oil Industry Has Paid 50 Percent of All Taxes Collected in the State

Over the Past Five Years North Dakota’s Oil Industry Has Paid 50 Percent of All Taxes Collected in the State

“During the Bakken development oil extraction and production taxes are more than 44% of all taxes collected by the state,” a study commissioned by the North Dakota Petroleum Council and the Western Dakota Energy Association states. “During the Bakken development oil extraction and production taxes are more than 44% of all taxes collected by the

Fix The Damn Oil Tax Already

On the 70th day of the state’s 80 legislative session Republican leaders in the House and Senate have proposed a major reform to oil tax policy. Already it is being met anger from partisan Democrats hoping to inflame the public’s hatred for “big oil,” but it’s time to cut through that nonsense. It’s time to

House Raises Oil Taxes: "I've Never Had Someone Call Me To Raise Their Taxes Before"

Earlier this week the North Dakota House rejected HB1198, which would have ended certain tax exemptions for the oil industry, but offset those tax increases with a reduction in the oil extraction rate. Unfortunately, that failed, so the bill came back to the House today just the tax increases and not the rate reductions. Rep.

Legislator: "Shame" That Tribes Won't Commit To Spending Oil Tax Money On Improving Reservation

The House had a hot debate over oil taxes this evening, but it wasn’t just about a reduction in the rate for the oil extraction tax (more on that here). The primary purpose of HB1234 was to establish the state’s oil revenue sharing with the tribes. It’s appropriate that tribal governments get a share of

House Shoots Down Bill To Make Oil Tax Simplification Revenue-Neutral

In a state where revenues are running, in the current biennium, about 67% above last biennium we have no business raising taxes. But Democrats, joined by a number of Republicans, lead the charge to kill a half-cent decrease in the state’s oil extraction tax. The idea was to offset the tax increase resulting from the

North Dakota Tax Revenues Up Nearly 64% Over Last Biennium

North Dakota’s economic boom continues to drive a boom in tax revenues for the state. According to the latest numbers from the Office of Management and Budget released this morning, the state has seen a 63.6% in revenues biennium-to-date over the last biennium. So far state revenues have increased nearly $1.7 billion over the last

Math-Challenged Democrats Call Republican Oil Tax Bill "Radical And Reckless" Based On Fraudulent Numbers

Because they apparently didn’t get a number that was shocking enough the first time they were grandstanding on this issue, North Dakota Democrats re-calculated the numbers (which in and of itself inspires no small amount of skepticism, their original figure was $596 million) and concluded that a Republican plan to restructure the state’s oil taxes

Republicans Need To Stop Letting Democrats Define Compassion In Dollars

The Fargo Forum had a review of the first half of the legislative session up this weekend, under the ridiculous headline “GOP progress is problem for Dems in North Dakota Legslature [sic]”. Glad to see the Forum casting the first half of the session in terms of what was good and not good for Democrats.

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