Tag Archives: oil prices

John Olsrud: Does It Matter What Voters Had To Say On The Oil Extraction Tax?

John Olsrud: Does It Matter What Voters Had To Say On The Oil Extraction Tax?

In Susan Wefald’s book, Important Voices; North Dakota’s Women Elected State Officials Share Their Stories 1893-2013, she writes that when she was elected to the North Dakota Public Service Commission, she realized from the beginning that it was not her job to look after the large companies who came before the PSC, as they had

oil tax

What North Dakota Democrats Aren't Telling You About Oil Tax Revenues

During the 2013 legislative session, when lawmakers were debating a proposal to eliminate triggers and exemptions in the state oil tax and replace them with a lower overall rate, Democrats rushed to the media with scary numbers about lost revenues. But it turned out the numbers they were using were cooked. No doubt hoping that

Video: House Passes Oil Tax Trigger Reform

This morning the House Finance and Taxation Committee heard testimony on HB1476, which would eliminate the looming “big trigger” oil tax exemption and replace it with a flat and permanent 4.5 percent extraction tax. The committee kicked it out with a party-line 10-4 “do pass” recommendation, and the full House got a vote on it

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

North Dakota Lawmakers Proposing Fixing The State's Ridiculous Oil Tax Trigger

North Dakota’s existing oil tax code is a disgrace to public policy. Among other confusing exemptions it includes two triggers based on oil prices which kick in lower tax rates. In fact, thanks to plunging oil prices, the clock is currently ticking on the “big trigger” which will reduce state revenues by billions of oil

North Dakota Could Have Avoided Revenue Headaches With Oil Tax Reform

Yesterday the state got some ugly news in the form of a forecast showing another $1 billion drop in tax revenues (that coming on top of a previously-released forecast in January showing a $5.5 billion drop from December). Most of the problem is oil prices (though the agriculture industry has had some tough sledding of

Dalrymple On New Forecast: "Our Revenues Will Be Down Substantially"

UPDATE: Read the full forecast document released today right here. Of particular note is the forecast for the “big trigger” on page 4. The new forecast for North Dakota tax revenues amid falling oil prices is out, and while it’s ugly it is slightly more optimistic than a Legislative forecast released a few weeks ago, at

Lawmakers Concerned About Overly Optimistic Revenue Forecast From Executive Branch

Tomorrow state lawmakers will get their last revenue forecast of their 80 day legislative session from executive branch Office of Management and Budget. From that, they will have to try and craft tax and spending bills that will govern the state until the next biennium ends June 30, 2017. It’s not an easy job, especially

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

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