Sparked by protests over officer involved shootings, and now the #BlackLivesMatter movement, many claim that there is a “war on cops” in America right now. But if there is one, it doesn’t seem to be showing up in data. “A Google news search finds 32,000 results for the phrase ‘war on cops‘ and another 12,100 results…
North Dakota The Second Richest State In The Nation
Thanks to an oil boom, and some very good years in agriculture, North Dakota has shot to the top of the list when it comes to personal income levels. In terms of per-capita personal income, North ranked 7th in the nation in 2013 at $53,182. But what happens if we take things like taxation and cost…
White Hot To Merely Red Hot: Low Oil Prices Have Been Good To North Dakota
When oil prices began to crash this winter there was some panic in North Dakota. After all, while our state has been able to tout the nation’s strongest economy for the last several years, most of that economic growth was built on the back of the Bakken oil boom. Some worried that a bust was coming.…
Six Jobs Created In North Dakota/Texas For Every One In The Rest Of The Country
Recently Continental Resources CEO Harold Hamm called America’s shale plays “Cowboyistan.” “We’ve got more rigs running than in the rest of the world combined,” he told Forbes. “We’ve got highly trained and reliable rednecks to run them. And unlike anywhere else on the planet, we’ve got property rights, which enable landowners to lease out their…
In North Dakota, Walmart Cashiers Make $17.40 Per Hour
My friend, University of Michigan economist Mark Perry, visited North Dakota this weekend (I had dinner with him in Minot on Saturday) and snapped the photo to the right during the Williston leg of his trip. It’s exactly what it looks like: A sign in Walmart advertising available positions and what they pay. “Walmart pays…
The Rich Are Getting Richer, And The Poor Are Getting Richer Too
Professor Mark Perry posted yesterday two graphs that are stunning in their implications, especially as President Obama and Democrats attempt to execute an election-year pivot way from their Obamacare disaster to income inequality. The folks on the left are fond of telling us that the poor are getting poorer, but is that true? As Perry…
North Dakota, The Economic Miracle State
The fact that North Dakota has roaring economy, driven by oil production in the state, isn’t news. Especially not to those of us actually living in North Dakota who are living with the oil boom, and know that it’s a complex issue that’s not always 100% positive. But it’s still fun to marvel at some…
Thanks Fracking: Americans Saving Billions On Natural Gas
This chart from Mark Perry shows spending by US consumers on natural gas since 1999: From Perry: According to data from the Department of Energy, the US price of natural gas delivered to residential consumers in November 2012 was $9.97 per 1,000 cubic feet (most recent month available). Adjusted for inflation, that’s the lowest residential…
Renewable Fuels Standard Could Gobble Up America's Entire Corn Crop
The government must stop mandating ethanol production, Mark Perry notes. It drives up prices and, unless something is done, in the not-so-distant future the mandate may have our entire American corn crop diverted to making ethanol: Corn ethanol is clearly inferior to gasoline as a fuel source for automobiles. Despite a 51-cent-per-gallon tax credit to…