North Dakota leads nation in growth. North Dakota led the country with a 10.7% annual gain. North Dakota was second (2.9%) in quarterly increase behind West Virginia (3.44%) for 1Q12. -- Philadelphia Federal Reserve.
I think one key aspect of the "North Dakota Miracle" that is always missed by analysts is the "National Economic Footprint" of North Dakota oil.
Hard to quantify, but I imagine there are probably tens of thousands of jobs outside North Dakota that supply and service the Bakken. Those that dismiss North Dakota for being a small state never mention this factor.
Sand in Minnesota, Michigan, Wisconson -- or wherever EOG is quarrying. Carbo and Chinese ceramics.
All the pipe coming into the state (drilling pipe and pipeline). The drilling pipe is particularly interesting: specialty steel and very, very expensive.
All the home-building; houses being brought in from out-of-state.
Highway widening south of Williston was done by out-of-state contractor.
I think one key aspect of the "North Dakota Miracle" that is always missed by analysts is the "National Economic Footprint" of North Dakota oil.
ReplyDeleteHard to quantify, but I imagine there are probably tens of thousands of jobs outside North Dakota that supply and service the Bakken. Those that dismiss North Dakota for being a small state never mention this factor.
I agree 100%.
DeleteI have alluded to that before.
Sand in Minnesota, Michigan, Wisconson -- or wherever EOG is quarrying. Carbo and Chinese ceramics.
All the pipe coming into the state (drilling pipe and pipeline). The drilling pipe is particularly interesting: specialty steel and very, very expensive.
All the home-building; houses being brought in from out-of-state.
Highway widening south of Williston was done by out-of-state contractor.
List could go on and on.