North Dakota Petroleum Council/Western Dakota Energy Association release results of North Dakota oil and gas tax revenue study
Bismarck, N.D. – The North Dakota Petroleum Council (NDPC) and the Western Dakota Energy Association (WDEA) this week released the results of a North Dakota oil and gas tax revenue study they jointly sponsored. The purpose of the study was to review the oil and gas extraction and gross production tax collections by the state of North Dakota, from 2008-2018, and to detail where and how that funding has been used. The study breaks down the revenue distribution by the programs and political subdivisions receiving the funds and tracks how the revenues have been used through different state funds and distributions authorized by the legislature.
From 2008-2018, oil and gas extraction and production taxes have raised almost $18 billion for the state, which accounts for almost 44 percent of total tax revenues collected by the state during that period. Over the last five years alone, oil and gas extraction and production taxes accounted for more than 50 percent of all tax revenues collected by the state. “We thought it was important to compile this data and push this information out to the public,” said Ron Ness, President of NDPC. “We hope it is useful to our state legislators currently considering the state budget and spending levels for the next biennium.”
“The oil industry benefits the entire state, not just the west,” said Geoff Simon, Executive Director of WDEA. “We are excited to share this information, so people have a clear picture of how their government services are being funded.”
“We appreciate the efforts of the NDPC and WDEA in compiling this information,” said Rich Wardner, ND Senate Majority Leader. “During the legislative session, as we debate tax and spending bills, this information will be critical in ensuring lawmakers have a full understanding of where tax revenues are coming from and where they are being spent.”
This report is a compilation of publicly available tax collection data conducted by Brent Bogar of Jadestone Consulting. Copies of this report have been delivered to all state legislators and it will be made available on the WDEA website at taxstudy.ndenergy.org.
Kristen Hamman Tim Rasmussen
Director of Communications Director of Communications
North Dakota Petroleum Council Western Dakota Energy Association
T. 701.223.6380 T. 701.527.9003
About the North Dakota Petroleum Council
Since 1952, the Petroleum Council has been the primary voice of the oil and gas industry in North Dakota. The Petroleum Council represents more than 500 companies involved in all aspects of the oil and gas industry, including oil and gas production, refining, pipeline, mineral leasing, consulting, legal work, and oil field service activities in North Dakota, South Dakota, and the Rocky Mountain Region. For more information, go to www.ndoil.org.
About the Western Dakota Energy Association
The Western Dakota Energy Association is a membership organization comprised of the counties, cities and school districts in the oil and coal-producing regions of North Dakota. WDEA supports sustainable energy development and responsible revenue sharing for its members, and promotes the greater good of North Dakota. For more information, go to www.ndenergy.org.