The Bakken Shale Oil Boom Floods Rural Banks With Cash
U.S. oil production grew at the fastest pace in at least six decades last year as horizontal drilling and hydraulic fracturing, or fracking, unlocked crude oil trapped in formations such as North Dakota’s Bakken shale. The oil boom has pushed down the area’s unemployment rate to 3.2 percent—the lowest in the nation—even as its population mushroomed 4 percent between April 1, 2010, and July 1, 2012.
Deposits in banks with branches in the Bakken shale region, which stretches from central North Dakota to the northeastern corner of Montana, soared 15 percent last year, to $3.9 billion, after rising 27 percent in 2011, according to preliminary data from the Federal Reserve Bank of Minneapolis. By any standard, deposits are exploding.
The surge has attracted investors and developers eager to meet the rising demand for housing, retail, entertainment, and other services. Since 2009 the number of new businesses has grown by almost 50 percent in the Bakken area, according to Federal Reserve data, compared with 5 percent growth for the rest of North Dakota and 3 percent nationally.
L’exploitation des gaz et du pétrole de schiste est probablement le plus formidable programme anti-pauvreté pour les régions éloignées. Malheureusement, au Québec, l’ancien gérant d’Éric Lapointe a décidé que les Québécois allaient rester pauvres. Pourquoi le PQ déteste-t-il autant le Québec et les Québécois ?