When the most recent oil and gas activity report came out from the Department of Mineral Resources earlier this month I noted that, while overall oil production had fallen below 1 million barrels per day for the first time in 28 months, drilling activity has actually been increasing by small amounts in recent months. Why…
North Dakota's Tax Revenues Did Not Actually Decline 46 Percent In The Third Quarter
Yesterday evening I wrote about a report from the Rockefeller Institute of Government, picked up by Reuters, which described North Dakota’s tax revenues as declining 46.7 percent in the third quarter of 2014 compared to the previous year. I was skeptical because the state’s monthly reports concerning general fund revenues have shown steady growth. The…
Are North Dakota's Booming Tax Revenue Days Over?
The answer to the question asked in the headline is “not really.” The current biennium’s revenue growth through May was much more moderate than the last biennium’s growth, but c’mon. The state is still seeing 18 percent growth in tax revenues. I’m sure just about every state in the nation would take that sort of…