North Dakota’s Bakken oil boom underpins tax cuts that rival Florida and Texas

North Dakota’s oil and gas output from the Bakken shale helped drive $3.17 billion in severance tax revenue in 2023, equal to about 41% of the state’s total tax take. That revenue base has coincided with both high per-capita tax collections of $9,834 per resident and a limited reliance on individual income taxes, which accounted for 6.4% of total revenue. The article argues that energy wealth has reinforced the state’s fiscal position while giving lawmakers room to cut taxes. It also highlights the scale, profitability and political support surrounding U.S. domestic oil production.