On June 30, 2015 -- yes, that would be one day later than the Atlantic Monthly's story (talk about poor timing): KXNET reported that 1Q15 taxable sales in North Dakota are higher than a year ago. Now remember:
- the Bakken has been at this for eight years
- Bakken production plateaued at 1 million bopd with the Saudi surge
- Bakken crude was selling for as low as $38 on the spot market
- active rig counts dropped from 200 to 76 in a relatively short time
The first quarter of 2015 saw a jump of 2.26 percent compared to last year. One of the biggest increases was in the retail industry. Tax Commissioner Ryan Rauschenberger said the increase came as a surprise considering the low price of oil during the beginning of the year.Now how in the world did this happen? Oh, that's right. It was a mild winter in North Dakota; folks went shopping.
This is from The Bismarck Tribune.
The 1Q15 numbers at the North Dakota state website:
Of the 50 largest cities in North Dakota, the highest percent increases for the first quarter of 2015 (compared to the first quarter of 2014) were as follows:
- Walhalla – Increase of 39.77 percent
- Linton – Increase of 19.65 percent
- Cavalier – Increase of 18.15 percent
- Larimore – Increase of 17.72 percent
- Minot – Increase of 10.76 percent
By county:
- Cass County: $673,603,504
- Williams County: $880,758,741
- Stark County: $301,268,910
- Fargo: $586,272,823
- Williston: $703,517,913
- Dickinson: $279,965,591
For those interested, here are:
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