How No. Dak. Became an Energy-Producing Giant
North Dakota isn't the largest state. At 70,700 square miles, its total area is ranked 19th in the U.S. North Dakota isn't the most populous state either. With a population of 672,591, it's actually the third least populated state in the U.S. So how did North Dakota, nicknamed the Peace Garden State, grow to become one of U.S.'s biggest producers of energy?
Ten years ago, North Dakota adopted a comprehensive energy plan, which sought to develop both traditional and non-traditional energy resources. Since then, demand for energy has soared, creating jobs and contributing to North Dakota's budget surplus, said Republican Sen. John Hoeven of North Dakota.
Today, North Dakota is the fourth-largest oil producing state, Hoeven said. In 2011, North Dakota will produce more than 120 million barrels of oil. North Dakota also produces wind energy, as well as natural gas, bio fuels and bio mass, he noted. Its clean coal technologies produces electricity for nine states.
"It's very exciting. We're attracting great companies with the latest technologies," Hoeven said. "It's a comprehensive approach to energy development. The same kind of approach that I think this country needs to take."
Energy development has become such a booming business for North Dakota, it's created jobs that are bringing people from outside the state. The challege now, Hoeven said, is building infrastructure for the influx of people.
Cramer also spoke with Hoeven about natural gas, hydrogen fuel and more. To see the full interview, watch the video.
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