Ernest's Feed
Dec 22, 2014
Dec 22, 2014

CORRECTED (OFFICIAL)-In North Dakota, countdown looms for $5.3 billion oil tax break

, Dec 19 (Reuters) – Tumbling U.S. oil markets
approached an important if obscure milestone on Thursday,
closing near a price that could trigger a $5.3 billion, two-year
tax break for North Dakota oil drillers as soon as next summer.

Under a decades-old law, the state at the heart of the U.S.
shale oil boom would waive its 6.5 percent oil extraction tax
once the average monthly price of benchmark West Texas
Intermediate (WTI) crude at Cushing, Oklahoma, falls below a
certain threshold for five consecutive months.

Dec 22, 2014
Dec 19, 2014
Dec 19, 2014
Dec 19, 2014
Dec 19, 2014

In North Dakota, countdown looms for $5.3 billion oil tax break

, Dec 19 (Reuters) – Tumbling U.S. oil markets
hit an important if obscure milestone on Thursday, closing for
the first time at a price that could trigger a $5.3 billion,
two-year tax break for North Dakota oil drillers as soon as next
summer.

Under a decades-old law, the state at the heart of the U.S.
shale oil boom would waive its 6.5 percent oil extraction tax
once the average monthly price of benchmark West Texas
Intermediate (WTI) crude at Cushing, Oklahoma, falls below a
certain threshold for five consecutive months.

Dec 18, 2014
Dec 18, 2014
Dec 18, 2014

Exclusive: North Dakota governor vows not to blink in OPEC oil standoff

By Ernest Scheyder

BISMARCK, N.D. (Reuters) – North Dakota Governor Jack Dalrymple expects the global oil market to rebalance next year and his state, the second-largest U.S. oil producer, to emerge resilient from an oil price war with OPEC, thanks largely to low production costs.

In a wide-ranging interview with Reuters that also touched on optimistic crude price forecasts for the state’s budget, the governor expressed confidence North Dakota will comfortably ride out OPEC’s attempts to squeeze it and other producers.