Tag Archives: oil industry

USGS Estimate Of Recoverable Oil In North Dakota Increases 102%

USGS Estimate Of Recoverable Oil In North Dakota Increases 102%

This breaking now from Senator John Hoeven’s office. After requesting another survey by the United States Geological Service, that agency has nearly doubled their estimate of technically recoverable oil in North Dakota. The USGS has gone from an estimate of 3.65 billion recoverable barrels to 7.4 billion. That’s a 102% increase. Sadly, this great news

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

Tax Credits Will Do Little To Curb Flaring

There’s some common ground between folks who are friendly to oil development and environmental activists who want to shut it down over legislation handing out tax credits for reductions in natural gas flaring. As oil production in North Dakota’s oil patch has increased, so has natural gas flaring. So much so that, seen from space,

North Dakota Legacy Fund Balance Tops $1 Billion

North Dakota voters approved a constitutional amendment to divert 30% of the state’s oil tax revenues into a new fund called the Legacy Fund. The original projection for the balance of that fund was $600 million by the end of the current biennium at the end of June. As of today, the balance is already

Why In The World Is The State Of North Dakota Raising Taxes?

The State of North Dakota’s financial situation is the envy of the nation. According to the most recent revenue report from the Office of Management and Budget, total state revenues biennium to date are running 64.7% above last biennium. To put that in numbers, the state has collected $1.6 billion more in taxes so far

Thanks To Fracking, European Manufacturers Relocating To America

When we talk about oil and gas development in the United States, we usually talk about the number of people the oil industry hires. Or maybe gas prices or “energy independence.” But what about the fact that America’s natural gas boom, which like our oil boom was brought about by the development of frackign and

North Dakota Governor Jack Dalrymple

Dalrymple Must Disclose Financial Interests In Oil Companies

According to the Bismarck Tribune, Governor Jack Dalrymple owns stock in an oil company that made headlines earlier this week by staking out an oil well near the historic Theodore Roosevelt National Park. That in and of itself isn’t a bad thing, but Dalrymple shutting down requests for transparency about the matter in advance of

Amendment To Let State Of North Dakota Write Checks To Individuals Fails

It’s a bit ironic that HCR3036 failed today. The constitutional amendment, introduced by Rep. Vicki Steiner, would add to the Article X Section 18 state constitution the following language allowing the state government to cut checks directly to individuals. The legislative assembly may provide by law for direct general allocations of state funds to North

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