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Thread: Tycoon Says North Dakota Oil Field Will Yield 24 Billion Barrels, Among World’s ...

  1. #11
    Angry Former GOP Voter
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    Re: Tycoon Says North Dakota Oil Field Will Yield 24 Billion Barrels, Among World’s .

    Quote Originally Posted by Mickey Shane View Post
    This is great news! It will also dovetail with the environmentalists. There's no beautiful scenery to spoil in ND.
    Badlands, the prairies, etc. There is enough controversy coming up about the technique of fraking, actually. There is a lot of worry about spills and other foul-ups.
    We are mostly enjoying the comforts it brings and the jobs that are flocking in, increasing our economy dramatically. It's just our flood that is keeping us occupied at the moment.

    http://seekingalpha.com/article/2769...-not-the-flood

    1. Monthly oil production dipped slightly in April, but is above its year-ago level 23% and above the April level two years ago by 78.5% (see chart above). Oil production this year has averaged more than 10.5 million barrels per month, which is double the monthly production levels in 2008, and triple the levels from five years ago.

    2. Oil-related employment in North Dakota has more than doubled in just two years, from 6,800 jobs in May 2009 to 15,200 jobs in May of 2011. While the national economy struggles with another “jobless recovery,” North Dakota has continued to add jobs, and not just oil-related jobs. The overall state employment level reached an all-time high in May and is 2.5% above the June 2009 level when the recession ended.

    3. In the first quarter of 2011, North Dakota led the country with a 6.9% increase in personal income. Second place Wyoming at 2.6% wasn’t even close, and North Dakota’s increase was almost four times the national average of 1.8%.

    4. In 2010, North Dakota led the country with a 7.1% increase in real state GDP, almost three times the national average of 2.6%, and two full percentage points above the 5.1% growth for second-place New York.

    5. North Dakota continues to lead the country with the nation’s lowest jobless rate. In May, North Dakota’s unemployment rate of 3.2% was lower than second-place Nebraska’s rate of 4.1% by almost a full percentage point, and was almost six percentage points below the national rate of 9.1%.

    6. As a result of North Dakota’s booming oil-based economy, tax collections from 2009-2011 have exceeded projections by $237.5 million. Through May, sales tax collections exceeded projections by 13% and income tax revenues by 10.6%.

    Bottom Line: North Dakota’s impressive economic success clearly illustrates some of the benefits of domestic energy production: more jobs, record economic growth, huge gains in personal income, and even more tax revenues. There’s no reason that the economic success of North Dakota can’t be duplicated elsewhere, if we would only open up more U.S. land and off-shore areas to domestic energy exploration and drilling.
    http://www.dailymarkets.com/economy/...g-oil-economy/
    Last edited by Fiddytree; 07-01-11 at 02:29 PM.
    Michael J Petrilli-"Is School Choice Enough?"-A response to the recent timidity of American conservatives toward education reform. https://nationalaffairs.com/publicat...-choice-enough

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    Re: Tycoon Says North Dakota Oil Field Will Yield 24 Billion Barrels, Among World’s .

    In essence, the people of North Dakota are just as conscious as anyone else about the desire to keep its community safe from environmental dangers and still have that never-ending debate about what is too much pollution, what is too dangerous, what is too little use of our natural resources, our local economy, and so forth.
    Last edited by Fiddytree; 07-01-11 at 02:49 PM.
    Michael J Petrilli-"Is School Choice Enough?"-A response to the recent timidity of American conservatives toward education reform. https://nationalaffairs.com/publicat...-choice-enough

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    Re: Tycoon Says North Dakota Oil Field Will Yield 24 Billion Barrels, Among World’s .

    Drill!!!!!!!!!!!!!!!!!!!


    Tim-
    “When buying and selling are controlled by legislation, the first things to be bought and sold are legislators.” - P. J. O’Rourke
    “Socialism is great until you run out of someone elses money” Margaret Thatcher

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    Re: Tycoon Says North Dakota Oil Field Will Yield 24 Billion Barrels, Among World’s .

    Quote Originally Posted by apdst View Post
    That's what the Libbos have been telling us for years.
    Your inability to discuss oil as a reasonable adult much less represent positions of your opponents to a status even remotely similar to their original statements is a sign of severe immaturity.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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