Catch a glimpse of what you missed from “North Dakota Shale Surge ”
Up for Consideration: A look at the benefits and growing pains of a record-setting oil surge that impacts nearly every facet of life in North Dakota.
The Skinny: In 2001, North Dakota was languishing as the 38th contender on America’s state-by-state Gross Domestic Product (GDP) rankings. Thanks to shale gas production, the state’s been making a steady climb to the top, and now stands at number two, but not without a few caveats…
What it Means: There’s no question that the shale boom has been a huge boon to North Dakota, but there are some cons as well as pros:
On the Plus Side
• Job creation and huge decline in unemployment
• Steadily climbing GDP
• Soaring housing market
On the Minus Side
• “Skewed” municipal tax policies that don’t spread the wealth
• Stress on existing state infrastructure
• Difficulty meeting supply/demand for housing, workforce, and medical care
The Take-Away: The Bakken play, which accounts for 90% of North Dakota’s oil production is expected to be productive for at least another two decades. In order to maximize potential, the state’s policymakers must move forward with proactive strategies that will benefit both oil and gas interests and the people of the state.
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