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Tag Archives: jack dalrymple

North Dakota’s savings dwindling due to tax collection drop

oil industry, north dakota, drilling rig

BISMARCK, N.D. (AP) — A North Dakota rainy-day fund that held more than $572 million in January is on the verge of being emptied due to lower-than-expected tax collections from depressed oil and farm commodity prices. “There are no ‘ifs,'” North Dakota Treasurer Kelly Schmidt said Friday. “We will drain it.” The Budget Stabilization Fund, established in 1987, was intended to stash ...

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A Microsoft star seeks to run North Dakota

Doug Burgum

BISMARCK, N.D. (AP) — A decade ago, then-Microsoft executive Doug Burgum stood before a cheering crowd at a technology conference in Dallas and introduced his boss, company co-founder Bill Gates, by describing what makes entrepreneurs successful. “Innovators are people who go against the grain” by taking risks and chasing dreams, said Burgum, who’d become a tech star in his own ...

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Top Bakken news stories – May 28 – June 3

Catch up on the news you missed last week with our weekly recap. Below are the top five articles that our readers found most engaging. Enjoy! 5. Interest in solar power soaring while utility seeks rate cut GREAT FALLS, Mont. (AP) — Interest in solar power is soaring in Montana because of the state’s sunny skies and profit potential. But NorthWestern Energy, ...

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Low-volume North Dakota oil wells may suspend production

A stripper well or marginal well is an oil or gas well that is nearing the end of its economically useful life. (Image: gfpeck via Flickr)

BISMARCK, N.D. (AP) — Hoping to help North Dakota’s struggling oil industry, state regulators on Tuesday decided to allow owners of low-volume “stripper” wells to suspend production while they await a rebound in crude prices. After being idle for 12 months, a North Dakota oil well has to resume production or be abandoned and plugged. North Dakota’s Industrial Commission agreed ...

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North Dakota reviews tax incentives for effectiveness

BISMARCK, N.D. — A North Dakota legislative committee on Wednesday began evaluating most of the state’s economic development tax incentives to determine their effectiveness in creating businesses, jobs and revenue for the state. It’s the first formal legislative review of tax incentive programs, some of which have been on the books for decades, and comes amid shrinking oil tax revenue due ...

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North Dakota social funding eases local property taxes

Looking up at the North Dakota State Capitol building in Bismarck. (Image: Timothy Vogel via Flickr)

BISMARCK, N.D. — A North Dakota legislative committee was told Tuesday that a partial state takeover of county social services costs is helping to ease the property tax burden for North Dakota residents, though some lawmakers believe declining oil tax revenues will prevent the state from assuming all of the program costs. “I don’t know where the money is going ...

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North Dakota pipeline regulator removes self from decision, cites conflict

BISMARCK, N.D. — A North Dakota regulator removed himself Monday from the permitting process for an oil pipeline because his mother-in-law is negotiating an easement with the project’s builder. “I just want to be open and transparent about things,” said Randy Christmann, one of three members of the North Dakota Public Service Commission. For nearly a year, the all-Republican, three-member panel has ...

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Regulators to give written reason for cutting oilfield fines

BISMARCK, N.D. — North Dakota regulators say they will provide written justification if fines and other sanctions are lowered against companies that violate the state’s oil and gas laws. Department of Mineral Resources Director Lynn Helms says he was directed by the state Industrial Commission on Monday to provide the documentation. Regulators have been publicly criticized for easing penalties as much ...

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