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Discussion: (7 comments)

  1. Joe Roberts

    Great article as far as it goes, but why not go further and explain that the reason this natural resource is being developed is that the property interests are mostly in private hands and the parties can reach a mutually agreeable price for its extraction. If this natural resource (oil and gas) was mostly controlled by the federal government, as it is in many other places, it would be under political control and the hoops and hurdles to development would be many and varied. It’s easy to think that the development is going on in North Dakota because of the fortuitous supply of a natural resource, but that is only part of the story.

    1. The failure to fully develop our domestic energy supplies is a crime. Three things “American” energy will give us.

      1 – Thousands and perhaps millions of jobs many of which are in excess of $100,000 per year

      2 – Create enough tax and lease revenue to eliminate our entire national debt.

      3 – Keep trillions of dollars in the U.S. instead of transferring our wealth to foreign countries, many of which desire to do us harm.

      A smaller carbon footprint can only come from the wealth that is realized by maximizing the development of our own carbon based sources of energy.

    2. I am sorry but the reason why this ‘resource’ is being developed has a lot more to do with SEC rules and accounting tricks than with actual energy returns on energy produced. If you look at the 10-Ks you find a lot of negative cash flows and a great deal of red ink if the production data were used instead of the optimistic EURs and depletion curves.

  2. Albert Russell

    It might also be helpful to remember that the state receives $1 bn in federal agricultural subsidies. That nearly $2000 in unearned federal dollars for each person in the state. Not too shabby, eh?

    Al

  3. In comparison to all US states, in north Dakota there are several opportunities. The only oil industry generates approximately 3% of total nonfarm industry. Apart from this, there are several other fields like Agriculture, Food processing and so on where you can make your carrier. So if you are badly affected by current economic condition then it would be better if you move this state. There are a lot of jobs in north Dakota. Just move to this place and shape your carrier.

  4. Ryan Costa

    I’m 10 years old

  5. Rick Drew

    I would like to be a part of this interesting and growing area. I have an associates degree in Petroleum Tech and want to utilize my ability. What a great opportunity.

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