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There are a lot of people who, for reasons having to do mostly with politics, are delighted to see North Dakota’s oil boom fade. They resented the success and prosperity Bakken area oil and gas development brought to the state, and now that plunging oil prices have depressed that activity they delight in promoting the doom and gloom.
It doesn’t help that North Dakota is facing something of a double whammy, economically speaking. Low oil prices combined with low agriculture prices mean the state’s two largest industries are taking a big hit. Even so, things aren’t as bad as some are making it out to be. Certainly this isn’t a repeat of the 1980’s oil-and-agriculture bust as this article from John Hageman illustrates.
And there are a lot of positive stories from the oil boom still playing out. Stories about how the oil boom has changed the trajectory of people’s lives.