Mandan, Hidatsa and Arikara Nation Chairman Mark Fox. Photo from Facebook
North Dakota newspaper calls on the Mandan, Hidatsa and Arikara Nation to sign onto a new energy tax agreement with the state:
The compact, effective in 2008, was an effort to boost drilling in the Bakken formation on the reservation. Until then, the state and the tribes had their own tax. The compact created a one-tax program in an effort to make oil development more doable for companies and a way to divide the revenue. Everyone seemed happy with the agreement until oil prices started to dive. The reason for the legislative change was to maximize oil revenue while keeping the companies interested in drilling on and off the reservation. It’s doubtful the oil patch will return to the frenzied pace of just months ago. What’s more important is a stabilized revenue stream that will benefit everyone. The tribes should sign on to the new compact and see how it works. If it doesn’t meet their needs they can try something else. The tribes may feel they weren’t sufficiently consulted, and that point has been made, but the new compact appears to be in their best interest. Like every marriage there are ups and downs, but this union needs to continue because it benefits both sides.Get the Story:
Editorial: Tribes should OK tax change (The Bismarck Tribune 1/6) Also Today:
No deal on tribal oil tax agreement (The Bismarck Tribune 1/1)
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