Dakota Access has increased North Dakota tax revenue by $6M a month
AMY DALRYMPLE Bismarck Tribune
The Dakota Access Pipeline has boosted North Dakota’s tax revenues by $18 million in its first three months of operation, according to an analysis by the North Dakota Pipeline Authority.
Director Justin Kringstad said Tuesday producers have seen a $2 increase in the average price for Bakken crude in June, July and August compared to 2016 figures. He attributes the increase to more competitive transportation costs as a result of Dakota Access going into service in June.
That $2 boost for every barrel equates to $6 million in additional oil tax revenue for the state each month, Kringstad said.
His figures are based on current North Dakota oil production, which increased 3.5 percent in August to an average of 1.08 million barrels per day, the North Dakota Department of Mineral Resources reported Tuesday.