Dern. We'll just hafta try scrape by without ya.
Posted on 12/08/2014 7:18:51 AM PST by TurboZamboni
BISMARCK, N.D. -- Reported income by all North Dakotans has more than doubled to a record $30.4 billion since the infancy of the state's oil boom in 2006, tax return filings show.
Tax Department figures released to the Associated Press show the number of taxpayers in the state has jumped 37 percent since the state's oil bonanza began, from 339,000 in 2006 to 466,000 in 2013. Slightly more than 440,000 tax returns were filed in 2012.
Tax Commissioner Ryan Rauschenberger said the increase in income and the number of taxpayers contributes heavily to the state's robust economy.
"More people are buying more things with that type of income," he said. "It has an effect on sales tax and the property tax base."
(Excerpt) Read more at twincities.com ...
That’s great.
But now the party’s over.
At least for now.
I went to North Dakota for the Post Office and scored a crapload of extra money. Was awesome.
ND flirted with socialism even before New England. Do you think they have learned their lesson after seventy-five years?
Not necessarily, talked to my dad last night who lives in bakken field and said oil companies are pulling out of other areas in US and moving to ND.. I assuming it has to do with ecconmies of scales and technologigies that have improved fracking process. He said there is a new way to frack that doesn’t require so much water.
Send this article to all the fricking “no frackers†in Albany, New York. These bleeding heart environmental whack jobs, who tax everything in sight except breathing, need to be whacked up the side of the head.
Hedge funds betting that OPEC-led oil rout is near end
http://fuelfix.com/blog/2014/12/08/hedge-funds-betting-that-opec-led-oil-rout-is-near-end/
Hedge funds are betting that the oil-price crash is close to ending.
Speculators boosted their net-long position in West Texas Intermediate crude by 14 percent in the week ended Dec. 2, the most in 20 months, U.S. Commodity Futures Trading Commission data show. Short bets contracted by 15 percent as long wagers expanded 4 percent.
Oil’s collapse accelerated after the 12-nation Organization of Petroleum Exporting Countries decided Nov. 27 to maintain output levels, underscoring the price war in crude. Oil tumbled into a bear market in October and reached a five-year low last week as the U.S. shale boom added to a global glut at a time of weakening demand growth.
“A lot of people are betting that the selloff is overdone,” John Kilduff, a partner at Again Capital LLC, a New York-based hedge fund (USO) that focuses on energy, said by phone Dec. 5. “We haven’t seen these levels in years. They represent extreme value to some folks.”
More at source article
Next...natural gas export. The solution is there if we have eyes to see it.
Yes. But I am referring to the huge plunge in oil prices these past few months.
While I’m certainly not complaining about lower gas prices (I like it!), I am wondering if this will severely impact oil producing states such as ND, TX, and AK among others.
It might actually help if does affect them so they can get infrastructure caught up. Because if oil does drop, it won’t stay at the price forever and will go back up. One thing about ND, their legislature created a fund that put oil revenue that can’t be touched until at least 2017 so if do have a downturn, they are prepared for it.
That push for American energy independence is sure hurting North Dakota, isn’t it? People with more disposable incomes will spend more on goods and services which helps those businesses as well and contributes to an overall robust economy. Gees, how many times has the other side told us this kind of trickle down economics doesn’t work?
I wish our legislators here in the People’s Republic of CA had such wisdom!
And BTW we have a gazillion barrels of oil in our state both offshore and in shale formations but the liberals won’t let us touch it.
I suppose if there is downturn this year or next, they may tap the fund but at least they didn’t spend as soon as it came in..Somebody in another post stated ND experimetned with communism at one time. That won’t happen now as that was shen DFL(democrat farmer league) controlled the democrat party but they have been wiped out in ND.. You still them in existence, ie Minnesota and you know what is happening there.
The voters seem to have a lot of common sense up there.
They haven’t vote for a Dem presidential candidate since 1964.
A record few states can match...unfortunately.
If you read and believe the Star Tribune, it's nothing but misery with no up side.
Income doubles due to oil and gas production in just 8 years.
Democrats want to shut all oil production down.
Anyone who votes for a democrat deserves to live in poverty.
What no one is mentioning is that the cost of living went up as well. No way I’d work or live up there.
Dern. We'll just hafta try scrape by without ya.
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