The StarTribune is reporting:
Two days after a rosy government report doubled the estimate of how
much oil is tucked beneath North Dakota, four men hop out of their
vehicles into the soft dusk light atop a rock-strewn hill north of town.
They point at the barren, rolling landscape
dotted with cattle, an oil well and a pond as a half-mile-long train of
oil tank cars silently snakes past in the distance.
One is a former hedge fund manager who flew in
from Connecticut. Another is a real estate investor who drove his pickup
from Spokane, Wash. There’s a local civil engineer and a homebuilder
who moved out here when business dried up on Michigan’s Upper Peninsula.
They’re planning to buy the 70 acres of farmland
for a 56-home subdivision on one-acre lots, envisioning a bedroom
community as the area’s oil boom reality of man camps and crowded RV
parks morphs into something more permanent. “This new estimate tells
people looking to invest here that, hey, there is enough oil to drill
here for 20 years instead of five,” Williston Mayor Ward Koeser said.
“Now there’s scientific proof that we have twice as much oil as they
said five years ago, and that gives us a little more stability,
reliability and credibility.”
A reader provided me the link. Thank you.
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