Sunday, November 23, 2014

'North Dakota has shed its identity as an agricultural state in decline to become an oil powerhouse second only to Texas...'

This is the marquee front-page report at today's New York Times, "The Downside of the Boom."

It's interesting, although caveat emptor. If the Old Gray Lady can smear and destroy the Bakken oil boom, they certainly will. As with any major economic development, folks need to find a nice compromise between private-sector growth and public-sector regulation. As it is right now, it sounds pretty Wild West and laissez-faire.