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Oil Makes This State Great

By Taylor Muckerman - May 16, 2013 at 2:47PM

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Unconventional drilling has taken the reigns in North Dakota and has been driving notable growth.

The focus on unemployment in America has started to wane a bit; the rate has fallen from 7.9% at the beginning of 2013 to the current 7.5%. One state that has been doing its part to help lower this average is North Dakota. Thanks to the booming Williston Basin, and the Bakken Shale in particular, unemployment there is only 3.3% as of the end of March. This ranks it as the No. 1 state in the country for employment.

Citizens of North Dakota have also been blessed with the seventh ranked GPD per capita in the United States. When examining why, look no further than the 400% growth witnessed in the state's oil and gas industry since 2005. Tune in below to learn about four companies that have been instrumental in these advancements.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis – even one of our own – helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

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Stocks Mentioned

Plains All American Pipeline, L.P. Stock Quote
Plains All American Pipeline, L.P.
PAA
$9.21 (-0.97%) $0.09
Continental Resources, Inc. Stock Quote
Continental Resources, Inc.
CLR
$42.68 (-3.74%) $-1.66
Enbridge Inc. Stock Quote
Enbridge Inc.
ENB
$47.52 (-0.85%) $0.41

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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