Strong oil prices good for ND treasury, not so for roads
BISMARCK, N.D. – The same stronger-than-forecast oil prices that are swelling North Dakota’s treasury also could shrink dollars for road construction next year. Oil is used for road construction and making asphalt.
The state Department of Transportation already has approved 174 contracts for road, bridge and other projects this year that total $350 million.
Officials say bids on those projects came in earlier this year before oil prices began surging.
Officials say none of the state-funded projects being done this year are affected by higher crude prices. Next year, however, things may be different if oil prices remain strong.