In 2010, voters in North Dakota approved the creation of a state-administered fund that would collect hundreds of millions of dollars a year in severance taxes generated by the oil and gas boom that was beginning to explode across the Peace Garden State. As production in the Bakken Formation raced upward from 112 million barrels in 2010 to nearly half a billion barrels last year, the severance taxes feeding the North Dakota Legacy Fund have swelled its balance to $6.2 billion.
Is It Too Late For Colorado To Capture Billions Of Dollars In Oil And Gas Tax Revenues In A Permanent Fund?
John Aguilar, Judith Kohler, Denver Post: Politics
Sun, 08/18/2019 - 5:00am
Topics: peace garden bakken formation north dakota legacy fund gregory bull austin mitchell ryan lehto williston n.d rio blanco garfield interest fast dick lamm but jim cole legislative services llc gas association i-76 that s coga ceo dan haley lamm when holding neighboring the hitching post cheyenne cody mineral trust fund gov stan hathaway tom stroock warren they yale michael dwyer west virginia gov joe manchin vermont gov jim douglas massachusetts gov deval patrick national governors association boston in north dakota ryan rauschenberger as kevin bommer league what bommer mike foote d-lafayette foote republican bob rankin carbondale rankin they re gov jared polis gov bill ritter kelly nordini ritter s nordini conservation it s the denver postoil gift mark haggerty headwaters economics bozeman you alaska related articles tale oil generally because a charles wollmann new mexico s north dakota state north dakota no associated press july us is colorado i in wyoming mexico related lamm lamm i cole but council the as a weld county road joe amon the denver posta county road weld county weld county kersey aug that part colorado s sen simpson al simpson permanent morton the it north dakota bommer bommer amendment the denver post foote we rankin revenue colorado colorado colorado s mont wollmann mexico s capture billions of dollars taxes million local year deductions budget money property future energy percent projects production resource income voters impacts left resources pay lawmakers collected rate years benefit natural effective valorem grow people wealth education time don create touched governments expected balance earnings annually system generated communities levels collections directed decade management drop sharply burden infrastructure cowboy country funds barrels energy-producing committee long-term enjoys continues type approved extracted ground savings hundreds prices millions today work provide fields extraction counties funding creation saved sight simply ballot put passed levy approach upgrade municipal big mill executive director continue portion source budgets answer coal impose power good research reduce lowest sack day rainy proceeds idea principal paid home companies giveaways credits giving questions change reducing
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