WHAT'S ON YOUR MIND
By Scott Hennen
Host of “What’s On Your Mind?” Radio Show
heard on the Flag Family Network including KTGO 1090AM
in Watford City, Williston and Tioga, North Dakota
North Dakota is blessed to have a Governor who knows the oil business as well as anyone in this state. In a recent interview Kelly Armstrong and I talked about oil prices, the state budget pinch, tough times in Agriculture and even the SAVE Act.
Q: What’s driving oil prices right now
Armstrong: “We are in an armed conflict in the Middle East… and because of places like North Dakota we’ve been pretty resilient from that in recent years. But when things escalate - like with Iran right now - it really lays bare how important it is to do the things we’re doing in North Dakota… making sure the United States is one of the only countries in the world that’s food and energy secure.”
Q: Is there a ‘sweet spot’ price for the Bakken?
Armstrong: “What anybody from an energy-producing state wants is free market, no manipulation - real prices on oil… If we’re a victim of our own success with enhanced oil recovery, Bakken, Permian, Eagleford, Powder River - God bless the energy producers who go out and risk their capital to do that.”
Q: Are the swings in oil prices changing plans in the Bakken?
Armstrong: “These companies have gotten so good at this that temporary spikes because of armed conflict - just like temporary dips - don’t really change how they view things. I anticipate North Dakota companies are going to mostly do what they said they were going to do before this happened.”
Q: What do lower oil and ag prices mean for the state budget?
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