Dustin Gawrylow, Founder/President of Policy Matters and the North Dakota Watchdog Network, talks about the recent Whiting Petroleum bankruptcy and how that may impact the state of North Dakota.
From 2008-2018, oil and gas extraction and production taxes have raised almost $18 billion for the state, which accounts for almost 44 percent of total tax revenues collected by the state during that period. Over the last five years alone, oil and gas extraction and production taxes accounted for more than 50 percent of all tax revenues collected by the state.
Gawrylow believes the recent issues with Saudi Arabia and Russia, combined with the COVID-19 Shutdown, the state of North Dakota will have to figure out how to call a special session in order to figure out the budget shortfalls.
The Crude Life Podcast can be heard every Monday through Thursday with a Week in Review on Friday.
Spread the word. Support the industry. Share the energy.
