Platt's is blogging:
It’s an enviable position for a state’s
government—not only to be rolling in dough but having more dough to roll
in than your wildest dreams.
The state of North Dakota, which began contributing to its
newly-created Legacy Trust Fund from oil and gas taxes in July 2011, has
already exceeded by 63% its initial target of having $618 million in
its coffers by mid-2013—thanks to the state’s seemingly bottomless
Bakken Shale oil field.
The Fund, which collects 30% of the state’s oil and gas revenues, is
now tilting toward a revised target of $1.2 billion by this July. As of
February 28, the Fund contained $1,005,676,512.
From the projected $1.2 billion target as of June 30, 2013, state
officials now project the Fund to contain $2.983 billion exactly two
years later.
$3 billion - $1 billion = $2 billion "exactly two years later." Hmmmm....$1 billion/year. It took two years to get to the first $1 billion. Now it's $1 billion/year.
cut income taxes . SD has no or little oil money coming in and still has no income tax . ND should be ashamed !
ReplyDeleteIn fact, they are raising taxes on oil industry. I assume the governor signed the bill that the Legislature passed -- raise taxes on the oil industry in North Dakota but have not read/heard.
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