Friday, June 1, marks the first anniversary of commercial oil shipments through the Dakota Access Pipeline. The Dakota Access Pipeline currently sends more than 500,000 barrels of crude oil per day destined for refineries throughout the country. To date, the pipeline has safely transported more than 100 million barrels of crude oil.
The 1,172 mile, $3.8 billion Dakota Access Pipeline has helped oil production in North Dakota skyrocket, reaching nearly 1.2 million barrels of crude oil produced per day in October. With reliable access to consumer markets, North Dakota’s energy producers have increased production. In April, the state reported 60 active drilling rigs—more than double the number that were operational in May 2016—and over 14,450 producing wells, the highest on record.
The increased energy production has provided significant tax revenues for the state and local communities as well. North Dakota’s Legacy Fund recently surpassed $5 billion, and in December it was reported that North Dakota’s public coffers grew by more than $43 million in the first five months of the Dakota Access Pipeline’s operations. As a direct result of the project, the state is expected to see as much as $250 million in additional revenues this budget term, surpassing the state treasury’s expectations.
At the same time the Dakota Access Pipeline is protecting North Dakota’s communities and environment. The pipeline was built using the most advanced construction techniques to ensure its long-term integrity and to withstand severe weather or natural disaster events. In many cases the developers exceeded regulatory standards, such as installing pipe that is 50 percent thicker than required by law. And, as the pipeline has come online the need for rail transportation has subsided considerably, protecting the environment and moderating rail transportation costs for other goods.
Below is a statement you can attribute to me, Craig Stevens, spokesman for the GAIN Coalition. Also, you can follow us on Twitter @GAINNowAmerica.
“On behalf of the GAIN coalition I want to congratulate the thousands of laborers who helped make this important energy infrastructure project a reality. The pipeline has led to lower energy transportation costs, ensured the safe delivery of resources, and boosted job growth. Investing in our nation’s domestic energy development projects, like Dakota Access Pipeline, is vital to creating a thriving economy.”