The phenomenal economic rise of North Dakota, going from the poorest one-fifth of America’s states for per-capita income seven years ago to becoming the second wealthiest state in the country last year (and surpassing Maryland, New York, New Jersey and Massachusetts) was the result of one factor: oceans of shale oil in the western part of the state that were only recently accessible because of revolutionary drilling technologies. The shale oil bonanza in the Peace Garden State has created a jobs boom with more openings than available unemployed workers, and a housing boom with a three-fold increase in permits over the last year. It continues to be America’s “economic miracle state.” Thanks to shale oil, North Dakota’s future looks very, very bright and its status as the “economic miracle state” will continue for decades.It should be noted that President Obama controls much more oil than the amount thought to be in North Dakota but there has been almost no change in oil production on federal lands during the past six years. In fact, it's very possible that oil production on federal land has actually gone down during his tenure.
Tuesday, April 1, 2014
From Carpe Diem: Amazing Facts From The Miracle State Of North Dakota
A feel-good article. Mark Perry's comment at the linked story:
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