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The Economics of the Bakken Oil Boom

THE GREAT AMERICAN OIL RUSH the economic impact of North Dakota's BAKKEN OIL BOOM 1951 Oil is discovered in the subsurface of the Bakken Formation, a rock unit under the soil of North Dakota, Montana, & Saskatchewan. However, the oil proves difficult to retrieve. 2008 New rock fracturing technology revolutionizes the way oil is recovered, enabling recovery of an estimated 18 billion barrels of domestic oil. ? Where does America's Oil Come From? 11111I11II1 60% is domestic 28% Canada 13% Saudi Arabia 11 10% Mexico 9% Venezuela 5% Russia *Based on 2013 import data The Bakken Impact Population Explosion from 2000 to 2012 Watford City, ND itt 73% Stanley, ND 41% Williston, ND 48% By contrast, nearly half of the Great Plains region rural areas saw population losses, sometimes up to 20% or more. ở Median Household Income Spike from 2000 to 2012 2000 2012 $12,178 $6,354 $6,206 $52,044 $29,740 $29,962 $29,688 $23,933 Tioga Williston Watford City Stanley Since 2009 10,000- 66% jobs have been added to Williams County estimated growth of weekly pay in Williams County The Bakken oil rush in North Dakota has created an estimated $1 BILLION $. state budget surplus Aries Residence Suites Sources: · US Census Bureau · · · ·

The Economics of the Bakken Oil Boom

shared by carrie.thompson.127 on Aug 27
If you worked at Walmart in Williston, North Dakota for 17.40/hr, what would oil have to do with your job? Everything! The oil boom has created higher wages, as many overtime hours as employees want, ...




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