Like Mark Twain, the rumors of the death of the Bakken oil revolution are greatly exaggerated. The Atlantic is once again claiming the North Dakota oil “boom” has gone bust. I say ‘once again’ because The Atlantic ran a piece February 12, 2013 stating that the “boom” was over. Doom and gloom sells, truth is optional.
Tagged: North Dakota
In today’s edition of The Heartland Daily Podcast, Research Fellow Isaac Orr and Research Fellow Bette Grande discuss earthquakes and their relationship with hydraulic fracturing. Grande also gives the listeners an inside look at the state of oil production in North Dakota as a result of low oil prices.
Research Fellow Isaac Orr introduces the latest addition to The Heartland Institute’s team, Research Fellow Bette Grande. Bette is a former legislator from North Dakota who served in the ND legislature for nearly two decades. During that time she specialized in pension reform and energy issues.
The North Dakota oil boom is over. At least that was one of the recurring talking points at the North Dakota Petroleum Council’s (NDPC) annual meeting in Dickinson, North Dakota about a month ago. As the oil field has matured, life in the Bakken has started to become “more normal.” This shift has caused policymakers and local residents to change the way they talk about economic growth; as the boom has turned to bustle, the term “boom” has been replaced by “sustained growth.”
Heartland’s Jay Lehr predicts Obama will ultimately reject the Keystone XL pipeline. But that will not slow development of Canada’s tar sands, a supposed goal of the environmental activists.
As North Dakota benefits from the vast oil reserves discovered in the Bakken formation, you think NPR would find reason to cheer. With a one billion dollar budget surplus and[…]