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While that's true it's not because of their ND drililng ops. The Bakken is a true money maker - the boom is intense because it is where they put their capital that has been pulled away from the money losing gas shale plays. If oil prices drop that may change.I think that you are missing my point. The money losing shale operations were producing negative cash flows even though the companies were reporting profits. That was because of the accounting rules that permitted them to use estimated ultimate recoveries that could not be supported by the actual production data. I am not convinced that outside of the core areas in the Bakken that it is possible to make a real profit in oil. But the accountants can create a profit by using estimates that would cap depreciation costs at a very low level. Given the depletion rates, it is not a given that the AVERAGE ND WELL will be profitable. The core areas should be profitable but they are a small part of the Bakken play in ND. The real issue for North Dakotans is what happens after the boom? I've seen this time after time - the joy of the booming hydrocarbons play but when it's gone you decline back to the baseline. It's hard because with a 3% UE rate and high salaries even for fast food workers how do you invest the money into a business that will grow post-boom?All that is required is liquidation. After the boom prices will have to fall sharply to reflect the real world economics. Those that were smart and took their profits early will have the opportunity to buy back their properties free and clear and still have money left over. Those that went along will have to take their losses. The key is government growth. If the state is prudent and does not add too many full time jobs or provide too many concessions to public sector unions the tax burden may turn out to be manageable. If it does as California did during the tech bubble bankruptcy is inevitable. One of my friends actually suggested that a prudent governor will load up with debt to build infrastructure and default after the boom is over. The infrastructure will remain after the boom to serve the need of residents and the default will ensure that they do not have to pay for it. http://dejxuamwrc.com [url=http://ypqxejege.com]ypqxejege[/url] [link=http://tsbbfz.com]tsbbfz[/link]

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