Western North Dakota, A Bust Of A Different Kind

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Real Estate Agent with Alliance Real Estate - Minot 7456
http://activerain.com/droplet/4XQk

Western ND Real Estate

Trevor PlettAs a member of The Northern Tier Federal Credit Union Supervisory Committee I receive a regional  Credit Union eNews Letter.

An article by Trevor Plett titled Will Deregulation Really Bring Oil Jobs Back?  caught my attention so I clicked on the link and I'm really glad I did. I think Trevor's view is spot on.

From the very beginning of "The Boom" experts were saying there is more oil under North Dakota than under the Middle East... so what happened?

This paragraph by Trevor sums it up very well: The oil “bust” in western North Dakota isn’t a “bust” in the traditional sense. It isn’t that the oil dried up or was found to be overexaggerated. Rather, there was so much oil there, it had an enormous impact on the world market and drug down the prevailing price level for oil. With an oversupply of oil, buyers would pay less, and producers had no more incentive to expand or work harder to supply the market.

I encourage you to read the entire article (it's short) if you have time. The link above will take you there. I thank Trevor and Pactola for letting me use his words in this post.

Pactola

Bob Timm, National Marketing Realtors, Minot ND, Real Estate

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Rainmaker
238,845
Brenda Whitman, Live in Laramie Real Estate
Live in Laramie Real Estate, Laramie, Wyoming - Laramie, WY
Broker/Co-Owner, Laramie, Wyoming

Ugh, our state really relies on the success of the oil and gas industry - I sure hope we can make the industry successful again..... somehow!

Dec 02, 2016 12:44 PM #1
Rainmaker
1,107,256
Bob "RealMan" Timm
Alliance Real Estate - Minot - Minot, ND
Bob Timm, Broker Associate, Alliance Real Estate

I sincerely believe that "The Donald" will turn around the attitude currently against fossil fuels to that of an attitude of embracing it Brenda Whitman, Century 21 Real Estate Center 

Dec 02, 2016 01:05 PM #2
Rainmaker
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

The discovery and drilling of many many new oil and gas sights made a huge impact on the industry

Dec 02, 2016 01:16 PM #3
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Paul S. Henderson, REALTOR®,CRS,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

 I have a feeling that times are a changing Bob "RealMan" Timm 

Dec 02, 2016 07:20 PM #4
Rainmaker
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James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

Good morning Bob.  I believe there is going to be a new sheriff in this country.  As far as oil production and less dependence on foreign oil, I'm sure we'll see soon what happens. 

Dec 03, 2016 02:26 AM #5
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Bob "RealMan" Timm

Bob Timm, Broker Associate, Alliance Real Estate
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