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Thursday, August 17, 2006

North Dakota Oil Production Still Booming

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BISMARCK, N.D. (AP) Oil production continues to grow in North Dakota.

Assistant state Oil and Gas Division Director Bruce Hicks says the state could see more than 500 well permits this year. That has not happened in ten years.

And oil and gas officials say North Dakota wells are producing more than 110-thousand barrels of oil per day for the first time in nearly 20 years.


This growth in oil production has been an absolute boon for North Dakota, driving much of the increase tax revenue that has lead to the half a billion dollar surplus the state is enjoying right now.

But you know what would kill this renewed investment in North Dakota's oil industry? ND Senator Byron Dorgan's "windfall profits" tax on the oil industry, which would deny the oil industry the profits they are reinvesting into places like North Dakota in order to expand domestic production of petroleum.

I think we need to ask ourselves why Senator Dorgan is supporting legislation that would hurt North Dakota's booming economy.

Comments

Avatar for Hoodlumman

I firmly believe that the windfall profits tax will never see the light of day.  It’s simply a talking point, pandering/demogoguing position, vote grabbing position that doesn’t have the votes amongst either political party to make it to law.

Especially to overcome a veto.

Hoodlumman on August 17, 2006 at 08:15 am
Avatar for Zsa Zsa

Hood...I hope you are right!

Zsa Zsa on August 17, 2006 at 08:24 am

Nothing brings out the hostility in the lefties like a successful, prosperous business.  Witness the leftie jihad against WalMart.


Save America; boycott the MSM.

robert108 on August 17, 2006 at 08:31 am
Avatar for tom@omega-energy.com

I have just inherited 250 acres plus mineral rights in North Dakota.  It has never been drilled but is flanked by proven reserves.  Can anyone help me?

email

Thank you

tom@omega-energy.com on May 2, 2008 at 02:25 pm
Avatar for tom

FUCK YOU ALL I FUCKING HATE EARTH!!!!!!!!!!

tom on May 16, 2008 at 01:07 pm

Tom:  Take your meds.


"Here lies, in honored glory, an American soldier, known but to God.”

The 11th hour of the 11th day of the 11th month… all honor to those who served...

pparets on May 16, 2008 at 01:10 pm
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