IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

Economic Contribution of the Petroleum Industry to North Dakota

  • Bangsund, Dean A.
  • Leistritz, F. Larry

The purpose of this study was to estimate the economic contribution of crude oil and natural gas exploration, extraction, transportation, and processing in North Dakota in 2005. Primary data for the study came from three separate surveys of firms involved with various aspects of the petroleum industry. Exploration, the process of finding mineral resources, was estimated to have direct impacts (in-state expenditures) of $445.1 million. Extraction, the process of developing and recovering mineral resources, had direct impacts of $909.6 million. The processing sector of the industry, which included pipeline transportation of crude oil and natural gas, had $132 million in direct impacts. The North Dakota Input-Output Model was used to estimate the secondary economic impacts (multiplier effects). The $1.4 billion in direct impacts were estimated to generate $2.4 billion in secondary impacts. The gross business volume for the entire industry in North Dakota in 2005 was estimated at $3.9 billion. Other economic measures for the industry were estimated, which included direct contributions to local and state government tax revenues of over $280 million, 5,267 full-time jobs, economy-wide personal income of $1.5 billion, statewide retail sales of over $900 million, indirect contribution of $55 million in state government general tax collections, and secondary employment of 20,650 full-time equivalent jobs. While only a snapshot in time, results from this study would suggest that recent upswings in energy prices, increased drilling activity, and growth in oil and gas production in North Dakota have made the petroleum industry the one of largest single industries in the state.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://purl.umn.edu/7635
Download Restriction: no

Paper provided by North Dakota State University, Department of Agribusiness and Applied Economics in its series Agribusiness & Applied Economics Report with number 7635.

as
in new window

Length:
Date of creation: 2007
Date of revision:
Handle: RePEc:ags:nddaae:7635
Contact details of provider: Postal: PO Box 5636, Fargo, ND 58105-5636
Phone: (701) 231-7441
Web page: http://www.ext.nodak.edu/homepages/aedept/
Email:


More information through EDIRC

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:ags:nddaae:7635. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.