ND oil industry wants end to price-based tax triggers

BISMARCK, N.D. (AP) — North Dakota’s oil industry wants lawmakers to change the framework for taxing crude production that abolishes the price-based triggers. Unless oil prices suddenly decline, North Dakota’s treasury may start reaping the benefits of a tax increase on drillers that could bump state tax collections by billions of dollars. The present situation with high crude prices is in contrast situation to just a few years ago when low oil prices threatened to trigger a tax break for drillers that would have cost the state lost revenue. Backers of abolishing triggers say it gives drillers certainty and keeps the industry’s jobs and revenue flowing