Oil Replaces Ag as ND’s Top Industry


The following is portion of an article from the Jamestown Sun.

by Patrick Springer

Activities associated with oil and gas extraction have knocked the agricultural sector from its pedestal topping North Dakota’s economy.

That, at least, is shown in statistics by the U.S. Bureau of Economic Analysis that measure each state’s gross domestic product, a trend that began in 2011 and continued through 2013.

Last year, North Dakota’s mining industry — dominated by oil and gas production — totaled $8.5 billion, compared to $7.3 billion for agriculture. Together, they accounted for 28 percent of North Dakota’s $53.6 billion economy.

Another major sector in the state’s economy — finance, insurance and real estate — totaled $7.7 billion, according to the BEA figures.

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Source:  Jamestown Sun

Posted by Haylie Shipp



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