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Some of our elected officials are traveling to North Dakota to learn about the savings fund the State of ND has set up to collect taxes on oil and gas drilling.
In ND, the fund started receiving tax collections September 2011 and has already passed the $1.3 Billion mark.
This should be a priority by our elected officials.
The most important thing that I saw was that Ron Ness, President of ND Petroleum Council, said that they "100 percent supported Legacy Fund" in North Dakota. That's very reassuring that the head of the petroleum interest group was fully behind the Fund. This should bode well for us if/when we decide to pursue this.
The most important thing that I saw was that Ron Ness, President of ND Petroleum Council, said that they "100 percent supported Legacy Fund" in North Dakota. That's very reassuring that the head of the petroleum interest group was fully behind the Fund. This should bode well for us if/when we decide to pursue this.
It should go to higher education, after cutting out the fat, and infrastructure in the local and nearby areas.
West Virginia is facing massive budget shortfalls. Any windfall revenues derived from natural gas will not only have to plug the almost certain budget gap, they will have to make up for the decline of coal severance tax revenues, as well.
North Dakota is, and has always been, a do it yourself kind of state. People there are tough, steady, self-reliant, proud and inclined towards working for what you have. It is not a welfare state and shiftless layabouts are subject to ridicule. People look down on professional victims. West Virginia does not share these positive attributes.
West Virginia does not have the will, and will not have the money, to emulate North Dakota's success.
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