North Dakota Oil Production On The Decline

• March 10, 2009

Chilling news for the fiscally responsible from the North Dakota Policy Council: Oil production is on a big decline in the state.
Why that’s chilling is because all the expanded government spending our political leaders have been doing is based on continued strong tax revenues driven by oil production. North Dakota has enjoyed massive budget surpluses for the last several years, and that’s prompted our political leaders to massively expand government spending. We saw a 26% increase in state spending in the last legislative spending, and so far this year legislators and the Governor are on track for a 27% increase.
Couple that with the expanded government Obama’s “stimulus” money sent to the state will leave us with, and what we’re looking at is a lot of new government with one of our most important sources of tax revenue on the decline.
Political leaders like Governor Hoeven are acting confident in their budgeting, as if our strong tax revenues will go on forever. But if this recession keeps up nationally demand for oil is going to remain low. And if demand for oil remains low, oil production in North Dakota is going to stay low. And, again, if that happens our tax revenues are going to plummet.

Tags: Asshats, Domestic Issues, North Dakota News, Politics

http://Array Shinnob_nd

One of the problems was when demand dropped they shut down a oil refinery in the US. It was one of the few if only that refines the lower grade oil such as ours. They figured now was the time to fix it since demand was low.

Since our oil grade also dropped then they might as well. Keep in mind they also are getting natural gas revenues. If I would of benefited from Pickens Plan LOL, lets get libs to force people and auto company’s to make NG burning cars.

If we wanted to keep oil pumps her going in down turns build a refinery. Eastern Montana is afraid Western ND will beat them to it.

I have not been able to find out a single reason why ND couldn’t let one be build. I believe a company would build. If it was thrown on the table maybe then there would be opposition. I don’t believe there would be if it could be run clean, or Grey even.

I don’t believe Oil is as clean as conservatives believe. The new horizontal oil drilling technique was in use here in ND. Zenergys had a well dump dirty salt water into a river and on land. The largest ecological disaster to happen in ND. We are still brought up on Hannity so on about ND’s drilling, how safe it is.

Media in ND is pittyfull at best. They do not serve the publics need for news that affects us. It hurts both partys.
http://www.willisms.com/ Zsa Zsa

Obama is all about Green Energy. It will pick up again once we have the Socialist out of office. Meanwhile for those of us who have been in and around the Oil Business all our lives, we know the importance of electing individuals with Strong Leadership skills and knowledge of how the USA Really works. Obama is in Socialist Fantasy Land and he will do everything in his power to encourage the US to be reliant upon foreign oil. In his Socialist mind he believes we can all be Green. I hope he starts harnessing some of the wind he blows every time he opens his mouth to power his Presidential limos and vehicles. He is so stupid! Oh well, we have 4 years. I think John Cornyn from Texas would be a great candidate for POTUS! He is not afraid to stand up to the Washington status quo garbage and is Pro oil.
robert108

The untold story here is all the govt regs and taxes, designed to limit our domestic production, have raised the price of domestic oil, making it less competitive with foreign oil. This started during Carter, and has yet to be rolled back.
jimmypop

To recap:
Personal income is predicted to significantly drop.
There will be a drop in other tax revenue.
Oil production is already dropping.
The legislature is planning to increase spending 27%.
Something is not adding up.

yes, it does. it adds up quite nicely….. the libricans are fools and nobody is calling them on it.
Jack Herrer

Get that Hemp Farming Bill passed and take advantage of the comming green energy boom.

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North Dakota Oil Production On The Decline

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