North Dakota Biggest Loser in Ruling Against Oil Pipeline… NY Times

December 12, 2016 by Jim Colburn Leave a Comment

A fair and balanced story about the Dakota Access Pipeline from the NY Times… http://www.nytimes.com/2016/12/08/business/energy-environment/dakota-access-pipeline-oil.html

““The biggest loser is the State of North Dakota,” said Ron Ness, president of the North Dakota Petroleum Council. “Companies are not going to get as good a price for their Bakken barrels. It’s a significant impact on their revenues.””

“Bakken producers are forced to ship much of their oil by rail, which adds costs of at least $4 and sometimes as much as $10 per barrel shipped. That created a critical disadvantage for companies like Hess and Whiting Petroleum, which had large stakes in the Bakken. A barrel of Bakken oil now sells for about $1.50 below the American benchmark — $49.77 on Thursday — rarely making it profitable to ship to major markets.”

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