Big Oil in North Dakoa

[Ufatz]

Since many members hunt or fish in North Dakota it might be of interest to check out the story in the N.Y.Times about the impact of the oil business on the state.

Some pretty surprising aspects to the regulatory (or non-regulatory) situation and get a load of who is in charge!!!

While none of this is surprising to me it should enlighten some of the Forum members and give an idea of how those hunting and fishing venues are likely to fare in the years ahead.

[Sonicrunch]

404 error:

Link to article not found.

[Ufatz]

Sorry. I did not provide a link. I don't even know HOW to provide a link. You'll have to find the story on-line I guess.

Couple items from the story:

The Commission that controls the agency is made up of the Gov. AG and the Agriculture Commissioner.

Industry reports grossly understate the number of spills and gallons.

Water troubles.

Political contributions to regulators.

Minimal punishments for infractions actually charged.

The usual oil industry impacts.

[Big Dave2]

Sorry. I did not provide a link. I don't even know HOW to provide a link.

Copy and paste?

[PurpleFloyd]

Who cares? North Dakota is insignificant. Let it burn.

[Ufatz]

Sorry again. I did not read the story on-line.

Let it burn? What sort of silly response is that? To anything.

On second thought, at the rate the industry is leaking oil and other petroleum substances over the surface of YOUR hunting grounds all it will take is one big dummy with a match and maybe it will.

I'm done. I tried.

[sptitz]

http://www.nytimes.com/interactive/2014/11/24/us/north-dakota-oil-boom-politics.html?_r=0

[Huskie]

You can google the New York Times, search for North Dakota Oil and read the article before the one in the link above, interesting.

[swamptiger]

And where is the bulk of this oil being shipped and consumed?

Why, naturally, to the refineries on the east coast.

Hypocrites and frauds.

[leech~~]

Who cares? North Dakota is insignificant. Let it burn.

What, are you RRR now or just "Embracing the sarcasm?"

[PurpleFloyd]

Who cares? North Dakota is insignificant. Let it burn.

[Bureaucrat]

Why is anyone shocked that there is an incestuous relationship between the regulators and the producers? This is how politics work. There is a revolving door between Big Food and the USDA, Big Pharma and the FDA, Big Environment and the EPA, Big Education and DOE, Big Labor and the NLRB, Big media and political activists etc.

You don't think producers would leave to chance the doling out of policy and access to billion dollar markets do you?

[delcecchi]

There is even a name for it. Regulatory Capture.

[swamptiger]

Discussing government regulation

in various sectors of the economy, Stiglitz contends, “The problem

is that leaders in these sectors use their political influence to get

people appointed to the regulatory agencies who are sympathetic to

their perspectives.”3

Stiglitz (p. 62) says, “It doesn’t have to be this way, but powerful

interests ensure that it is.” Stockman (p. 560) agrees, saying, “We

have a rigged system—a regime of crony capitalism—where the tax

code heavily favors debt and capital gains, and the central bank purposefully

enables rampant speculation by propping up the price of

financial assets and battering down the cost of leveraged finance.”

Stockman’s (p. 606) dismal view is that “In truth, the historic

boundary between the free market and the state has been eradicated,

and therefore anything that can be peddled by crony capitalists

. . . is fair game.”

"What Stiglitz and Stockman Have in Common"

[slammer]

They are awash in money. They are talking about oil payments to the citizens like Alasksa residents receive and also a possible elimination of property and/or income tax. But at what cost? The western part of the state sounds like it is really the wild, wild west.