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North Dakota will sue Washington over Bakken oil bill

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North Dakota is preparing to sue Washington state over a Washington law requiring oil sent by railway through that nation to have gases removed, which supporters say would lessen the probability of volatile and potentially fatal derailments. Stenehjem says over the next few weeks, he and the governor will finalize their plans for the lawsuit.

“It’s not backed by science. It’s not backed by the law. It operates to the detriment to the state of North Dakota and to Washington itself. It doesn’t make sense for them to say they’re going to restrict the importation of oil from North Dakota and then the refineries to have to look for alternative sources, which is oil from Africa and the Middle East,” said Stenehjem.

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Exxon Mobil Corp

New Mexico to get $64 Billion, thanks to crude oil benefits

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Press release

ExxonMobil today said a new study estimates the company’s development of Permian Basin resources in New Mexico will generate approximately $64 billion in net economic benefits for the state and local communities over the next 40 years, creating thousands of new jobs and providing increased funding for education, health and human services and infrastructure improvements.

Study evaluates planned development activities over the next 40 years
Research shows New Mexico to receive an estimated $62 billion in net fiscal benefits
Local communities to gain an estimated $1.8 billion in economic growth
“The Permian Basin is the engine of America’s energy renaissance and New Mexico residents will see direct economic benefits and opportunities from our planned investments,” said Darren W. Woods, chairman and chief executive officer of Exxon Mobil Corporation. “We will be a significant, long-term economic contributor to the state of New Mexico and will work hard to be a trusted member of the community.”

The state government will receive an estimated $62 billion in net fiscal benefits, $44 billion of which will come from new leases and royalties, according to the research. About $8.5 billion will come from state oil-and-gas severance taxes, said the study which was conducted for ExxonMobil by Impact Data Source. The research findings assume an oil price of $40 per barrel.

From an employment perspective, ExxonMobil’s activities will generate an average of 4,100 direct job opportunities for New Mexicans per year for the next 40 years, the study estimates. Over the next 40 years, the company’s operations are expected to generate a total of approximately $29 billion in new wages, salaries and benefits.

New Mexico Governor Michelle Lujan Grisham said the industry is crucial for residents and expressed optimism about the projections.

“The benefit to this state’s bottom line, as represented by investments from companies like ExxonMobil, has been enormous,” Gov. Lujan Grisham said. “My administration has been and will continue to be responsive to changes in the energy sector and the need for meaningful regulation and diversification as a means of ensuring a sustainable future – for our children, their education, the infrastructure that will support our collective future and more.”

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OilField

What’s next for Colorado? is the Oil Boom dead in Colorado?

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Democratic Gov. Jared Polis signed the law last week, and the Oil and Gas Conservation Commission will begin writing new rules in May. That could take months or years of hearings and painstaking negotiations with the industry and advocates for public safety and the environment.

Brackney predicted at least some cities and counties would overreach by imposing so many new restrictions on drilling that they effectively ban it. He said environmentalists would put so much pressure on local officials to impose de facto bans that they will cave for fear of losing the next election. – https://www.thedenverchannel.com

In an email to Earther, Jones noted that COGCC has a history of rubber-stamping drilling permits and “believ[ed] it was their role to facilitate oil and gas drilling.”

“Now they are directed to prioritize health and safety, which will empower them to better scrutinize the proposals that come before them—including considering things like cumulative impacts and requiring alternative site analyses – https://earther.gizmodo.com

Colorado is doing something “that hasn’t been done, and that is: a state with a very significant pool of gas and oil is going to make it a lot more difficult to mine it,” said Denver political analyst Floyd Ciruli. “There is really now ample warning that the way this legislation is drafted, it’s essentially going to allow some level of a ban.” – https://www.worldtribune.com

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