I am making a presentation to a group of retired UND faculty this morning on the topic of oil and the North Dakota economy. It is more of a free-flowing discussion than a chalk-and-talk format so I will add interesting comments later after I hear them. Oil is clearly a transformative event in the North Dakota economy. We can have an argument about the relative importance of different sectors all we want, but the emergence of the energy economy was an enormous factor in the early 2000s. Looking at the graph below I make the following observation: we are at the end of the first boom-bust cycle in the oil industry in North Dakota. That’s all this is. We have not run out of oil and it is not, at least yet, an industry regulated out of existence.

Continue reading North Dakota and Oil, Brief Notes

Read more

Numerous stories and sources document the growth of the North Dakota economy over the last decade. The North Dakota economy grew by leaps and bounds over this time, and economic development started in many industries and in many counties. Recently, somebody asked me about the contribution of oil over the last several years. This question is in contrast to the often asked question regarding which industry is most important in the North Dakota economy currently.

Continue reading What if oil did not happen in ND?

Read more