oil

Weeding Out Misinformation, Bad Producers in the CBD Industry

"We can guarantee what it says on the label is what's in the bottle is being tested, but that's not the case for all the new CBD companies trying to sell products," Casey Ruckheim said.

PARKERS PRAIRIE, Minn. — “We had no clue as far as growing anything like this before, as a farmer you put a seed in the ground and things happen,” Matt Ruckheim said. R Bottled Gold CBD is a hemp based business by Casey Ruckheim and her husband Matt. The pair have been growing for over a year, selling multiple different…

ND Officials Concerned About Dropping Production

The department says the concerns come from less travel and a switch to other alternative power sources.

BISMARCK, N.D. — North Dakota Department of Mineral Resources Director Lynn Helms says he’s worried about oil production not being able to reach pre Covid-19 output. According to data from the department, oil production dropped by 10 million barrels from April to May. The department says the concerns come from less travel and a switch to other alternative power sources….

Judge orders Dakota Access pipeline shut down pending review

The pipeline has been carrying oil for three years.

FARGO, N.D. (AP)–A federal judge has ordered the Dakota Access pipeline to shut down until more environmental review is done. The pipeline has been carrying oil for three years. But U.S. District Judge James Boasberg said in April that the pipeline remains “highly controversial” under federal environmental law and a more extensive review was necessary than the environmental assessment that…

Emergency Meeting Called After U.S. Crude Oil Futures Reach Historic Lows

The troubled oil market will have a major impact on North Dakota's economy

BISMARCK, N.D. — Oil prices plunge below zero, the latest never-before-seen number to come out of the economic coma caused by the coronavirus pandemic. The troubled oil market will have a major impact on North Dakota’s economy and Gov. Doug Burgum plans an emergency meeting of the Industrial Commission to take action. “We’ll be considering at that commission meeting an…

Sen. Hoeven introduces legislation to fund $3 billion oil purchase for emergency reserve

The Bill was introduced by Republican Senator John Hoeven, Republican U.S. Representative Michael Burgess, and Democrat U.S. Representatives Lizzie Fletcher

FARGO, N.D. — North Dakota Sen. John Hoeven introduced legislation that aims to fund a government purchase of oil to help boost the industry that has been hit hard by reduced demand. The bipartisan bill asks for $3 billion in funding to purchase crude oil produced in the U.S. for the Strategic Petroleum Reserve.  This move comes after Congress declined…

Dow Jones Has Worst Day Since 2008 Thanks To Coronavirus & Falling Oil Prices

Paul Meyers of Legacy Wealth Management joined KVRR To Talk About The Markets

FARGO, N.D. — A free-fall in oil prices and worsening fears of fallout from the spreading coronavirus outbreak cause a massive sell-off on Wall Street. The Dow Jones Industrial Average sank nearly 8%, its steepest drop since the financial crisis of 2008. The Dow lost 2013 points. The sharp drops triggered the first automatic halts in trading in two decades….

North Dakota Regulators Poised to Approve Pipeline Expansion

Opponents say the expansion would increase the possibility of an oil spill.

BISMARCK, N.D.–North Dakota regulators are expected to take action Wednesday on a proposal to expand the capacity of the Dakota Access pipeline. The Public Service Commission signaled last month that it would approve a permit for a pumping station that’s needed for Energy Transfer to double the capacity of the pipeline to meet growing demand for oil shipments from North…

North Dakota Oil Output Pushes Revenue Ahead of Forecast

Oil production is running about 5% ahead of projections.

BISMARCK, N.D.–Record oil production is pushing state revenue ahead of expectations for the first several months of the state’s two-year budget cycle. North Dakota budget director Joe Morrissette says revenue is up 7.6%, or about $121.6 million, over projections. Oil production in North Dakota is at about 1.5 million barrels daily. The state has so far collected more than $1.25…

Industrial Commission Approves Enhanced Oil Recovery Project

The project will take place over two years.

BISMARCK, N.D.–North Dakota regulators have endorsed a project that will test a process that injects natural gas underground to try to force more oil out of the state’s shale deposits. The state Industrial Commission, a three-member panel led Gov. Doug Burgum, approved the “enhanced oil recovery” process Monday for Hess Corp. The company is proposing the project to target newer…

Congress Wants Review of Keystone Pipeline in Wake of Spill

The request comes after a pipeline breach leaked an estimated 383,000 gallons of oil.

BISMARCK, N.D.–Some U.S. House Democrats want a review of the Keystone pipeline and the federal agency that regulates it. The request Monday to the Government Accountability Office comes after a pipeline breach in North Dakota leaked an estimated 383,000 gallons of oil. House Energy and Commerce Chairman Rep. Frank Pallone; Transportation and Infrastructure Chairman Peter DeFazio; Railroads, Pipelines and Hazardous…