Agriculture Has Long Been North
North Dakota Studies Volume 2, Issue 2 Fall 2010 NORTH DAKOTA’S BOOMING ENERGY INDUSTRY griculture has long been North another economic engine to comple- Dakota’s number one industry. But ment the existing strong agricultural NorthA Dakota also has abundant natural and tourism industries. North Dakota’s resources in the form of oil, coal, natural strong labor market, diversified economy, gas, and wind, and the state has the and healthy state reserve balances puts ability to convert these natural resources the state in an enviable position among into economical and efficient energy for states. the citizens of the state and nation. As a result, North Dakota has become an Rock’in in the Bakken important energy provider to millions of people across the nation. On April 4, 1951, a great discovery was The Bakken Formation in western North made in North Dakota. In that year, the Dakota has the potential to produce Thanks to North Dakota’s booming energy Amerada Petroleum Corporation brought billions of barrels of oil. industry, homeowners, landowners, and in North Dakota’s first oil well, the businesses have benefitted from property Clarence Iverson No. 1 well, near Tioga in There are currently more than 5,000 wells tax relief. The economic impact of energy Williams County. Over the next 28 years, capable of producing oil and gas in North resources has also resulted in increased the well produced more than 585,000 Dakota. The average North Dakota well funding for education, human resources, barrels of oil. Prior to 1951, 64 wells had produces approximately 47 barrels per and the state’s infrastructure needs.
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