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Thursday, June 30, 2011

Carpe Diem Highlights North Dakota's Booming Energy Economy

Link here.
If there's any doubt that domestic drilling of oil and gas generate huge and significant positive economic benefits (more jobs, income, output, tax revenues, etc.), the booming economy in North Dakota provides a convincing case study.  
Among numerous statistics cited, these caught my interest:
Oil-related employment in North Dakota has more than doubled in just two years, from 6,800 jobs in May 2009 to 15,200 jobs in May of 2011.  North Dakota has continued to add jobs, and not just oil-related jobs. 

In the first quarter of 2011, North Dakota led the country with a 6.9% increase in personal income.  Second place Wyoming at 2.6% wasn't even close, and North Dakota's increase was almost four times the national average of 1.8%. 

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