Unconventional oil and gas exploration and development has become a bright spot in US trucking demand, Costello said.
“Manufacturers can’t get enough tank trucks to North Dakota and Pennsylvania to haul away produced water and flowback,” he said.
American Petroleum Institute Chief Economist John C. Felmy confirmed that North Dakota’s economy is very strong because of the Bakken formation development. But the growth also has created some unexpected problems, he added.
“Some mortgage applications require having worked at a job for a certain period, which isn’t always possible for workers arriving in North Dakota to satisfy,” Felmy said. “One banker there told me it’s a significant problem.”
North Dakota nevertheless stands in stark contrast to many other states that face continued economic challenges, he said.