This page contains a Flash digital edition of a book.
Page 42

(long-term) stability,”Triplett said, adding that the state today has a moral obligation to do this for the sake of future generations of state residents.

Phone: (701) 250-0123

Triplett and Rep. Dave Weiler, R- Bismarck, said locking up some of the current oil proceeds keeps state government from gorging on the current largesse and becoming dependent on funds that will eventually dry up as oil production is depleted or possibly halted by other circumstances.

Weiler was prime sponsor of the bill that became Measure 1.

Winter 2010-11 • BAKKEN BREAKOUT here,Triplett noted.

The state already experienced the trauma of budget cutting during an oil bust when the price of crude and drilling activity in the state plummeted in the mid- and late 1980s. Legislators, especially, say they don’t want to deal with that again.

One supporter of Measure 1 was the North Dakota Farm Bureau, which urged its members to vote yes and said the rise in property taxes in the past few decades is tied to oil revenue income dropping after the early 1980s boom collapsed.

In God We Trust

• Construction Safety Management to All Types of Energy Projects (Oil/Gas Well Drilling, Midstream, Power, Mining, Wind and Biofuels)

• Field Deployed Paramedic/EMT Service • Training Programs in-house or on-site tailored to client needs • Industrial Hygiene Service - Air Sampling and Monitoring


• Natural Gas and Liquids Marketing • Wholesale and Retail Sales • Direct purchase and sale or will act as Agent for Buyers and Sellers

• Great Plains and Rocky Mountain Regions


“The kicker here is we’re taking money from a nonrenewable resource and putting it away (for) leaner times,” he said.Weiler believes the average North Dakotan “does understand we have an enormous amount of oil taxes, and it’s the right thing to do.”

• Tax Advisement for Owners and Management • Preparation of ALL Corporate and Personal Tax Returns • Handle All Back office Accounting Duties for Businesses • Small Business Start-up Consulting: Registration to Accounting Systems

• Joint Interest Billing, Royalties, Acquisition and Divestiture Accounting Services

The leaner times could come if the federal government restricts the use of hydraulic fracturing, the method used to get Bakken oil out of its rock formation. Or the oil industry might gravitate to some yet-to-be-discovered big new oil field discovery in another state. Better battery-powered vehicles or hydrogen- powered vehicles could cut the demand for oil. North Dakota can’t control the price of oil or what the oil companies do

One opponent of Measure 1 was the North Dakota Policy Council, a non- profit that advocates for limited government. If the state has so much excess money, perhaps it shouldn’t be locked away but rather given back to the taxpayers, the council argued.

Additionally, says the council’s director, Brett Narloch,“Why is it that when times get tough, it’s government that has to be stable?” Ordinary households will have to cut their spending during tough times, he said, so when the state sets up a fund to stabilize the government, it is saying government’s needs are more important than its citizens.

Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48