Discussion of a new oil refinery makes sense for North Dakota

Other views: Discussion of a new oil refinery makes sense for North Dakota
By Rep. Kenton Onstad and Rep. Shirley Meyer
none - 01/17/2008

With highly successful new developments in North Dakota oil production, it makes good sense to explore all options regarding a new refinery here. We have formed a task force to do so.

Currently, North Dakota produces more oil than it refines – more than twice, in fact. There is only one refinery in the state, located in Mandan. Keeping more of this resource here could create many positive opportunities for our state. It could also help mitigate high fuel costs.

One possible option is that the state could invest in such a venture. This refinery could be fully state-vested or built as a private/public partnership. North Dakota has a very successful state-owned bank and mill. In this time of new North Dakota oil discovery and high national energy demands, a state-invested refinery could have similar results. Facility construction, maintenance and operation would create good-paying jobs. Revenue garnered from refining could be placed in the state’s general fund like the other state-owned businesses.

>SNIP<

Presently, our state is seeing frequent new oil discoveries. Drilling rigs have been popping up all across western North Dakota. Experts have said the Bakken Shale Formation, which partially covers western North Dakota, holds tremendous amounts of petroleum. The product being pumped out of current Bakken wells is high-quality sweet crude – greatly prized by refiners.

Also, the Williston Basin is only 30 percent to 40 percent developed compared to Texas. There’s much oil in that area, too.

http://www.in-forum.com/Opinion/articles/189010

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North Dakota is a Blood Red state, yet we have a State owned and run Mill & Elevator and a State Bank. Both successful. Why not a State owned & run oil refinery?

It is a lot like Siberia in the winter.

There is no shortage of oil in this world, there is a shortage of refining capability.