The state is now, in one year since first discovery of oil, one one-hundredth of the way to its supposed maximum in the Tioga area of 5,000 oil wells producing 200 barrels a day. [...]Read More... from On This Day | Oil[...]
Tag: Oil & Gas Taxes
News |
North Dakota House, Senate at odds over proposed gas tax increase
For the first time in two decades, North Dakota lawmakers are seriously debating a gas tax increase — but agreement remains out of reach. The House narrowly advanced a 5-cent hike to help fund road repairs and unlock federal dollars, while the[...]
News |
Bill requiring Legacy Fund disclosure website sees support in North Dakota Legislature
North Dakotans may soon get a clearer view of where their $12 billion Legacy Fund is invested. A bill passed unanimously by the Senate would create a dedicated website listing the fund’s holdings—an effort to make public information more accessible and transparent.[...]
News |
Alberta Rethinks Well Cleanup Costs: Industry May Pay, Not Taxpayers
Alberta is rethinking how it handles its growing backlog of inactive oil and gas wells—and this time, the public might not be left with the bill. A new version of a government-commissioned report recommends the province manage an industry-funded insurance program, rather[...]
News |
North Dakota sees uptick in oil wells that qualify for tax exemption
North Dakota’s oil boom once filled the state’s coffers, but the landscape is shifting. Nearly half of the state’s oil wells now qualify for a tax exemption designed for low-producing wells, cutting into tax revenue faster than lawmakers anticipated. Even if production[...]
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News Release |
North Dakota’s Oil and Gas Industry Drives Record $48.8 Billion Economic Impact
NDSU researcher Dean Bangsund joined Gov. Kelly Armstrong and North Dakota Petroleum Council President Ron Ness on Tuesday, March 11, to discuss the $48.8 billion economic impact of the oil and gas industry in the state. The press conference at[...]
News |
North Dakota House votes to raise gas tax to fund roads and bridges
North Dakota’s rural roads are wearing down, and lawmakers are debating how to pay for repairs. The House passed a 3% gas tax increase to create a new road fund, directing most of the money to counties without oil revenue. Supporters say[...]
Curio |
In Iceland, Fuel Tax To Be Replaced With Mileage Tax
Iceland is making a fundamental shift in how it taxes road use. The longstanding fuel tax will be replaced with a kilometre-based road tax, ensuring that all vehicles—electric, hybrid, and fuel-powered—pay based on distance driven. The government says this change is necessary[...]
News |
Bill seeks to expand North Dakota’s oil footprint with tax breaks
A bill seeks to encourage drilling for oil outside of North Dakota’s highly productive Bakken Formation and take advantage of the Trump administration’s desire for U.S. energy dominance. “Drill, baby, drill is real,” Ron Ness, president of the North Dakota Petroleum Council[...]
Commentary |
It’s Time to Raise the Gas Tax
WIth roads and bridges in need of repair, Rob Port with the Say Anything Blog becomes an unlikely proponent of an increase in the state’s gas tax. Read his arguments here. [...]Read More... from It’s Time to Raise the Gas Tax
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News |
Oil Prices Rebound Enough in May to Nullify Oil Production Tax Break Trigger
— Official News Release, ND Tax Commissioner — Tax Commissioner Ryan Rauschenberger provided a detailed summary of the current status of the North Dakota oil tax and oil tax incentives, better known as triggers, at a news conference today. “Our office has[...]
News |
Oil Tax Trigger is Legislated Away, Goes to Governor
The House approved Senate version of an amended oil tax bill that will do away with oil price tax triggers. The volatility of oil prices combined with the low-price trigger created a lot of uncertainty in forecasting revenues for North Dakota. Full[...]
News |
Oil Extraction Tax Reduction For New Wells Announced
It’s official, the first oil-tax reduction price trigger has been reached. Full news release follows below. — Official News Release, ND Tax Commissioner — Tax Commissioner Ryan Rauschenberger announced an oil extraction tax rate reduction for new wells today at a news[...]
News |
Legislative Week: Common Core, Medical Marijuana, the First Oil Price Tax Trigger
A couple controversial issues on the docket in Bismarck this week. AP Writer James MacPherson provides the rundown and more background at Bakken.com. [...]Read More... from Legislative Week: Common Core, Medical Marijuana, the First Oil Price Tax Trigger
News |
Revised Forecast Predicts $4 billion Drop in N.D. Oil and Gas Tax Revenue
Legislators will be working off a newly revised revenue forecast as they plan the budget for the next biennium. Lower oil prices and a lower tax rate for oil producers (as a result of the lower prices) will result in $4 billion[...]
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