North Dakota Oil Boom

[BigLarry]

That's a real interesting site David.  There's one heck of a lot of interesting information available by digging through the whole site.  Thanks for posting.

 

[redlabel]

Actually Gary they have already had one 'bust' out there.  It was back in the 70s and there was never the huge buildup there was for the Bakken.  At the present times, most of the 'Ghost towns' would be the mancamps built by the developers but if the industry did downsize, there would be enough permanent housing to handle those who stay.  If it's a real bust, that's another story.  Being born and raised in Louisiana, we spent half of our lives in North and South Dakota and call those states home.  As the old saying goes:  "Forty below keeps out the riff raff."  How true but I suspect there may be some seeping in with the boom.

Actually they have had two boom and bust cycles. A small one in the 50's that peaked in the mid 60's. The second was actually in the late 70's to early 80's. The price of a barrel of oil went up to $40.00 a barrel in 1980 and started slipping in 1984 and hit a low of $9.00 a barrel in 1986. The present activity is even having an effect on the housing market all the way to the eastern part of the state. I plan to exploit this when I sell my home this fall or early next year and go into full retirement.

 

[AndyJ]

Interesting.
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCREXUS1&f=M

"Notes: Crude oil exports are restricted to: (1) crude oil derived from fields under the State waters of Alaska's Cook Inlet; (2) Alaskan North Slope crude oil; (3) certain domestically produced crude oil destined for Canada; (4) shipments to U.S. territories; and (5) California crude oil to Pacific Rim countries. Totals may not equal sum of components due to independent rounding."

http://www.eia.gov/dnav/pet/pet_move_exp_dc_nus-z00_mbblpd_m.htm

 

[USA-RVNomads]

Its not just in the Dakotas but elsewhere too. We saw it in Colorado and Texas. If a local wants to make money all they have to do is run power and water hook ups into a field and call it a campground. Offer cheap pump out services for gray and black tanks and they can make a fortune while the workers are in the area.

Saw many of those pop up down south. Workers are as was mentioned trying to save money, so they seek the cheapest accommodations as they can get.

 

[PatrioticStabilist]

I drove through Midland in the spring it was a dirty mess.  Trash everywhere blowing across the fields, they said the people in there working just didn't care.  It's a boom and so many people are desperate for work they will go anywhere and endure anything trying to make ends meet. 

I keep hearing about the Keystone Pipeline but it would termporarily employ workers along its route for maybe a year and that's it.  It is merely being built to route oil to the coast for export and sadly you hear so much misleading info about how it will make us energy independent.

I got news for all of us, if the sun comes up each morning and down in the evening the oil companies will do nothing but raise prices.  It's like all industry anymore, no monopoly busting, no control of usurious rates, look at the rates some folks are paying on credit cards.  No consumer protection at all.  I remember hearing the mantra about the wage  price spiral, how wages were forcing prices up, now its merely the price spiral and many folks suffering for it.  We won't have a middle class soon, only the very rich and the very poor.  I'm glad my husband was fortunate enough to do well and our retirement will be a good one, but so many will never get that opportunity if it continues like it is. 

We need industry back in this country so our middle class can stay in existence, I hear the "jobs Americans won't do", well they always did and did well doing them, why do you think other countries want them, trying to develop their own middle class.  Sad, sad for us.

 

[usandmikey]

i live in valley city right on i-94 we get a lot of oil trafic coming in with our bussiness we are a auto recycling yard full service garage and towing company so i get to see all kinds of intresting things rolling through i saw a guy last december on an older harley road king bundeld up in his carharts heading to williston for work un real how many people i see traveling as far as they can then pan handeling for gas money to go further.  i went up to minot for the state fire school a couple years ago and that was enough for me to keep my but down here couldnt belive the things i saw. they keep talking about it making its way down this way if that happens im selling the house and heading to alaska.