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 KHRT ND News

KHRT ND News - Friday - 08/16/19 - Morning Edition

A legislative panel has begun its work to study potential uses of earnings from North Dakota's Legacy Fund....

     BISMARCK, N.D. (AP) - A legislative panel has begun its work to study potential uses of earnings from North Dakota's Legacy Fund, the voter-approved oil tax savings account. The 11-member committee that includes Senate and House majority and minority leaders held its first meeting Thursday. Four additional meetings are to be held before the Legislature meets again in 2021.
 
     Voters in 2010 endorsed a constitutional amendment that requires setting aside 30 percent of state tax revenues on oil and natural gas production in the fund. The fund holds more than $6 billion. And earnings increasingly have been targeted for spending, or to balance the state budget. Some lawmakers fear without a good plan moving forward, voters may attempt to drain the fund.

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     OMAHA, Neb. (AP) - The latest monthly survey of bankers in parts of 10 Plains and Western states indicates a shrinking rural economy, and three-quarters of bankers said President Donald Trump's trade policies are having a negative effect on their local economies.
 
     The Rural Mainstreet survey released Thursday shows the its overall index falling from an already anemic 50.2 in July to 46.5 this month. Any score below 50 indicates a shrinking economy.
 
     Creighton University economist Ernie Goss, who oversees the survey, says trade tensions "are driving growth lower for areas of the region with close ties to agriculture." Goss also noted that despite negative consequences from tariffs, nearly 7 of 10 bank CEOS surveyed support either raising or continuing the Trump administration's current tariffs.
 
     Bankers from Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming were surveyed.

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     BISMARCK, N.D. (AP) - North Dakota regulators say drillers set a record for oil production in June. The Department of Mineral Resources says the state produced an average of 1.42 million barrels of oil daily in June. That was up from 1.39 million barrels a day in May and the previous record of 1.4 million barrels daily set in January.

    North Dakota also produced a record 2.87 billion cubic feet of natural gas per day in June, up from 2.81 billion cubic feet in May. Statewide, companies flared 24 percent of all gas produced, or double the 12 percent target.

    There were a record 15,741 wells producing in June. The June tallies are the latest figures available.

    There were 61 drill rigs operating Thursday, down two from the June average.

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     BISMARCK, N.D. (AP) - Gov. Doug Burgum and other backers of the proposed presidential library for Theodore Roosevelt are pushing to build the facility within the boundaries of the former president's namesake national park in North Dakota's badlands. They appear to have little choice: The adjacent tiny tourist town of Medora already is cramped and nearby state land is in a flood plain. Roosevelt, who was president from 1901 to 1909, spent more than three years in North Dakota in the 1880s.
     


   (Copyright 2019 by The Associated Press.  All Rights Reserved.)

 

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