How North Dakota Became the New Saudi Arabia
October 1, 2011 5 Comments
With a hat tip to the Chicks on the Right.
People out here in flyover country are different. We don’t worry too much about what the neighbors think, we think it’s better to have a job (even a low paying one) than to be on welfare, and we are hooked on that American Freedom and Independence thing. And we know how to work and how to work smart. What’s more we don’t resent people who have lived the American Dream; we try to emulate them.
Mr. Hamm grew up the last of 13 kids in rural Oklahoma as the son of sharecroppers who never owned land, and realized he didn’t have the money to go to college, so he went to work in the oil fields. Just as so many of the rest of us did. He apparently was a good worker and worked his way up. He is now ranks 33rd on the Forbes wealth list for America. I’d say that’s not too bad for a sharecropper’s son.
Mr Hamm is the Oklahoma-based founder and CEO of Continental Resources, the 14th-largest oil company in America. He was the original discoverer of the gigantic and prolific Bakken oil fields of Montana and North Dakota that have already helped move the U.S. into third place among world oil producers. he is also one of the pioneers of the horizontal drilling where a well makes a 90 degree turn and can go thousands of feet sideways.
Mr. Hamm says the Bakken field may have up to 24 Billion (with a B) Barrels. Now they say North Dakota is considering dropping both the income and property taxes, WOW! There is also essentially no unemployment in North Dakota.
I worked out of Garrison, ND a couple of times in 1989 or so and even then it was booming. I also have a lot of family in Nodak and Minnesota. In fact my sister and her husband lived in Fargo, which was also the closest “large” city when my parents grew up and started their lives there. My brother-in-law started a farm equipment manufacturer there, and his friends started Steiger and Bobcat. Two of his kids are in the Happy Hooligans of the ND Air National Guard. In fact, I was one of his pallbearers and the gentlemen next to me was Director of Marketing for Melroe, the owner of Bobcat. What I’m saying here, I guess, is that these are some of the best, hard-working people on the face of the Earth, It won’t hurt my feelings at all when because of North Dakota we surpass Saudi Arabia‘s oil output.
But there is a fly in the ointment, no surprise. Apparently some fool bird got killed in one of Continental’s oil pits, and they are being charged with a criminal misdemeanor. Doesn’t sound to me like the way America rewards the productive. And we all know how many birds, including Golden and Bald Eagles the silly damned windmills kill.
The other thing is when Mr. Hamm met President Obama recently the president informed him that we needed to go green and that there would be new battery technology for cars. Yeah, whatever. Where is the power to charge those batteries coming from, Mr. President? And somebody call me when they develop an electric car that can handle Nebraska’s dirt/mud roads and go a round trip of 200 miles to get groceries. This ain’t Chicago out here.
Anyway that’s my take on this story. Stephen Moore in the Wall Street Journal has the rest of story. I recommend that you read it all.
- Bakken Oil, Eagle Ford, Utica Shale and other US Oil (nextbigfuture.com)
- In North Dakota, Wasted Natural Gas Flickers Against the Sky – NYTimes.com (wpvins.wordpress.com)
- A Bird-Brained Prosecution (Persecution?) (junksciencesidebar.com)
- Comparing Bakken Stocks (fool.com)