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Senator proposes study on state-owned oil and gas association; industry group opposes
Summary
Senator Jeff Magram asked the Senate Energy and Natural Resources Committee to study whether North Dakota should establish a state-owned association to develop and produce oil and gas, prompting support from the Nonpartisan League and strong opposition from the North Dakota Petroleum Council.
Senator Jeff Magram introduced Senate Concurrent Resolution 4,026, asking the Senate Energy and Natural Resources Committee to direct an interim study into the feasibility and desirability of establishing a state-owned association to develop and produce oil and gas in North Dakota. The resolution would have the study examine exploration, extraction, transportation, storage, processing, refining, and direct sale of oil and gas products and report to the next legislative assembly.
The proposal is intended as a fact-finding step rather than immediate policy change. "What I'm asking for here is a study just to look at what it would take to basically, for the state to get an oil business," Senator Jeff Magram said, adding that proponents want to explore ways to keep more resource revenue and profits in state coffers and potentially earmark funds…
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