North Dakota Oil Boom: Steady Because Of Diversification?
0 Comments Published by gwen January 7th, 2009 in Energy, Uncategorized.Now that the legislative session has started, I find myself wondering what kinds of energy initiatives we’ll see. Oil seems to fluctuate a lot and I know a lot of people are worried about depending too much on oil revenues to run our state.
According to an article printed in Business Watch, there is another oil-rich formation below the Bakken shale formation. Apparently Sen. Byron Dorgan would like to have this new oil possibility studied. That might be old news for some, but I missed it, and it got me wondering what other things I was missing from our congressional delegation.
I found this article from Sen. Dorgan’s web page almost immediately. I’m truly glad he wants the Three Affiliated Tribes to benefit from drilling in the Bakken as much as people in the surrounding areas benefit.
And who knows–maybe it’s just another boom-bust cycle–but the fact that our delegation is still thinking about oil development on the great plains and renewable resources as well makes me think this boom might stay for a while–in spite of those fluctuating oil prices.
Here’s a description of Sen. Dorgan’s energy policy, taken from his web site:
To address the energy crisis facing the country, Senator Dorgan believes we need a balanced and diverse approach toward our energy policy. As chair of the Energy Subcommittee of the Senate Energy and Natural Resources Committee, Dorgan has called for an energy “moon shot” that includes renewable energy, energy efficiency technologies, as well as using our domestic natural resources like oil, natural gas, and coal. Dorgan believes that investments in carbon capture and storage technologies will reduce the greenhouse gas emissions from coal fired power plants and other fossil energy sources. In order for our nation to be energy secure, we need to rely on a diverse set of domestic resources.
So maybe, if this oil boom stays steady, it will be because it adds to a clean balanced energy philosophy. Diversification seems to be a pretty good choice for a healthy economy.
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