Oil Booms in North Dakota

[The Sicatoka]

And Alaska payments got smaller this year; and Alaska makes payments to citizens because the oil is coming from public lands (where much of ND oil is coming from privates); and, don't forget Alaska's state budget is a mess (they were talking cutting UA/UAA athletics not that long ago). 

[gfhockey]

Nd residents got tax reductions on property tax

[Cratter]

6 hours ago, UNDBIZ said:

Alaska has a 5 billion per year in oil tax revenue.  North Dakota  is pulling in $1.6 billion per year in oil tax revenue.

North Dakota has basically twice the "proven oil reserves" than Alaska. 

In 2016 (not sure if 2017 numbers are out yet), North Dakota produced 2.11 times the amount of oil Alaska did.

Since the new Ralph opened, the people of Alaska have been given over $20,000.

Is the oil tax in North Dakota too low?

[Cratter]

5 hours ago, gfhockey said:

Nd residents got tax reductions on property tax

...and then a nice big increase in valuations! 

[BarnWinterSportsEngelstad]

3 minutes ago, Cratter said:

North Dakota has basically twice the "proven oil reserves" than Alaska. 

In 2016, North Dakota produced 2.11 times the amount of oil Alaska did.

Since the new Ralph opened, the people of Alaska have been given over $20,000.

Is the oil tax in North Dakota too low?

Also the % of oil severance tax decreased as the price per barrel of oil came down.

[sioux rube]

5 hours ago, gfhockey said:

Nd residents got tax reductions on property tax

Huh. My property tax has gone up 400 bucks the last 2 years 

[BarnWinterSportsEngelstad]

6 minutes ago, sioux rube said:

Huh. My property tax has gone up 400 bucks the last 2 years 

I consider that a positive, your property assessed value might have gone up?

[sioux rube]

15 minutes ago, BarnWinterSportsEngelstad said:

I consider that a positive, your property assessed value might have gone up?

It’s been going up since I bought my house back in 2002

[moser53]

7 hours ago, UNDBIZ said:

Alaska has a $40 billion trust fund and is pulling in $5 billion per year in oil tax revenue.  North Dakota has a $4 billion trust fund and is pulling in $1.6 billion per year in oil tax revenue.

Since we've struck it rich. Grand Forks has had to spend local $ to fix state roads. 

The big 2 have mucho cash flying around. Lot's of private $ being donated. 

#needpills

[SiouxVolley]

Some predictions have oil going to $80 / barrel by summer, as almost the entire world economy is growing fast.

Harold Hamm addressed students in Leonard Hall last week and told them Continental wanted more UND grads.  Kennedy was there at an unveiling and Hamm dropped the first puck at Friday's game against DU.  Maybe he'll give more if the stock goes up.

http://www.bloomberg.com/news/articles/2018-02-01/north-dakota-bakken-oil-rises-again-in-the-shadow-of-mighty-permian

 

[Nodak78]

Here is a pretty good article.

 

https://minneapolisfed.org/publications/fedgazette/green-shoots-sprout-in-the-bakken

 

[Hockeygirl97]

They didn't say anything about the pipelines. . . that has definitely helped the situation.  Protesters be damned. . .

[Nodak78]

2 minutes ago, Hockeygirl97 said:

They didn't say anything about the pipelines. . . that has definitely helped the situation.  Protesters be damned. . .

True pipelines helped very much. 

[MoSiouxFan]

1 hour ago, Nodak78 said:

Here is a pretty good article.

 

https://minneapolisfed.org/publications/fedgazette/green-shoots-sprout-in-the-bakken

 

Good article.  Thanks for sharing.

[Cratter]

http://www.thedickinsonpress.com/news/government-and-politics/4399533-nd-ballot-measure-works-restore-higher-oil-tax-rate#.WnopWxNZ73U.facebook

[Nodak78]

34 minutes ago, Cratter said:

http://www.thedickinsonpress.com/news/government-and-politics/4399533-nd-ballot-measure-works-restore-higher-oil-tax-rate#.WnopWxNZ73U.facebook

Damn.  This is a good way to chase investment dollars to Texas and other oilfields.  Oh and collect less tax revenue for North Dakota.

[Cratter]

14 minutes ago, Nodak78 said:

Damn.  This is a good way to chase investment dollars to Texas and other oilfields.  Oh and collect less tax revenue for North Dakota.

I think if North Dakota lowered it to 1% (instead of this way way too high 5%) the investment and oil/gas extraction would increase exponentially overnight...regardless of the price of that extracted oil per barrel is on the open market!!!!. Boom Baby Boom!

[Nodak78]

2 hours ago, Cratter said:

I think if North Dakota lowered it to 1% (instead of this way way too high 5%) the investment and oil/gas extraction would increase exponentially overnight...regardless of the price of that extracted oil per barrel is on the open market!!!!. Boom Baby Boom!

Are you saying zero production tax?

[SiouxVolley]

Andeavor Logistics is building a $150 million NGL separation plant in Belfield, which will produce propane, butane and natural gasoline.  The story has not been picked up in the North Dakota press yet, but has been picked up by a San Antonio paper, where Andeavor is based.  NGL’s will be sent off in rail cars.

[UNDBIZ]

9 minutes ago, SiouxVolley said:

Andeavor Logistics is building a $150 million NGL separation plant in Belfield, which will produce propane, butane and natural gasoline.  The story has not been picked up in the North Dakota press yet, but has been picked up by a San Antonio paper, where Andeavor is based.  NGL’s will be sent off in rail cars.

They're building it, or they're going to start the process of permitting and funding it? It seems few of these announced projects are ever actually completed. 

[SiouxVolley]

17 minutes ago, UNDBIZ said:

They're building it, or they're going to start the process of permitting and funding it? It seems few of these announced projects are ever actually completed. 

One link which can’t find now says next fall it should be completed.  Existing pipelines will be used and the NGLs will be mixed with oil incoming and separated.  The NGLs mostly come from gas plants by Watford City so there is a lot of up front work already done.

[Cratter]

34 minutes ago, UNDBIZ said:

They're building it, or they're going to start the process of permitting and funding it? It seems few of these announced projects are ever actually completed. 

I'm still waiting for the college hockey and aerospace museum to be built attached to the Alerus complex.  Timeline for completion is the same as UND's on campus stadium.

[moser53]

7 hours ago, Cratter said:

I'm still waiting for the college hockey and aerospace museum to be built attached to the Alerus complex.  Timeline for completion is the same as UND's on campus stadium.

In that picture it looks like 42nd is a first class road from the Al to 32nd st. 

How about a first class 42nd from Hwy 2 to 32nd St. To much to ask?

[The Sicatoka]

On 2/19/2018 at 10:37 AM, Cratter said:

I'm still waiting for the college hockey and aerospace museum to be built attached to the Alerus complex.  Timeline for completion is the same as UND's on campus stadium.

I'm pretty sure I see my monorail in there!  

[Cratter]

45 minutes ago, The Sicatoka said:

I'm pretty sure I see my monorail in there!  

I knew that would get you excited.