Oil production in North Dakota’s Bakken oil fields continues to grow at exponential rates. But nationally America sits on the edge of a fiscal cliff. Should we see another economic crash, and the sort of dramatic dip in oil prices such as the one we saw circa-2008, could it hurt Bakken oil production?
A collapse would obviously hurt wells in the drilling stage more so than those already pumping. America would still need oil, and the wells in North Dakota pumping that oil would go on providing it.
Still, though, yet another example of how profligate spending in Washington DC puts our nation’s well-being at risk.