How Big is the Bakken?

The state of North Dakota is collecting as much in oil taxes in a month now as it was in a biennium just a few years ago.

That's according to  Sen. Connie Triplett, D-Grand Forks, during a discussion among state legislators regarding a ballot initiative, Measure 1, in the upcoming November, 2010, election.

A biennium is two years.

I don't have a dog in this fight but it will be interesting to follow. To me, it's a no-brainer, but we all have different world views. Some people save; others invest; some spend. I'm glad Measure 1 is on the ballot. 

On another note: the fact that North Dakota is collecting as much in oil taxes in one month as it used to in two years is a number that I cannot get my arms around. I don't think many North Dakotans really grasp the incredible amounts of tax revenue that is being generated. I know I can't. In fact, my gut feeling is that regardless how Measure 1 fares, the issue will take care of itself over the next few years.

The legislature would be wise to start putting together some shovel-ready projects for all that cash.

NG

The Bakken is primarily an oil story, but many of the companies drilling for oil in the Williston Basin are also involved in drilling for natural gas in other parts of the country.

It is becoming increasingly difficult to ignore natural gas at this site. To keep the focus on Bakken oil but yet make it easier to follow the natural gas story, I am consolidating natural gas stories at one site within the blog which can be easily accessed at the sidebar on the right, way at the bottom. I have room for one more page tab at the top, and natural gas might be a natural fit.

Some recent postings regarding natural gas:

Investing Opportunities in Natural Gas, Seeking Alpha, October 17, 2010

The Century for Natural Gas, Seeking Alpha, February 2, 2010

Swimming in Natural Gas, Wall Street Journal, April 30, 2009