North Dakota among hardest hit by incoming president's pledge to ban development
A ban on oil and natural gas development on public lands by President-elect Joe Biden would severely harm the economies of eight western states, according to a Wyoming Energy Authority study conducted by University of Wyoming Professor Tim Considine. Over the next four years, the human cost of fulfilling Biden's campaign pledge would be an average of 72,818 fewer jobs annually. Lost wages would total $19.6 billion, economic activity would decline $43.8 billion, and tax revenues would drop $10.8 billion by the end of Biden's first term in Alaska, California, Colorado, Montana, New Mexico, North Dakota, Utah, and Wyoming. By 2040, Gross Domestic Product (GDP) would decline by $670.5 billion and average annual job losses would exceed 351,000 across the West.
Click here for the full release and comments from the Western Energy Alliance and the North Dakota Petroleum Council.