Oil is making millionaires in North Dakota
By JAMES MacPHERSON
Associated Press
July 1, 2008
Page 2 of 2
"The two main drivers are energy and agriculture income," Rathge said. The increasing wealth in the state from oil should push the average annual wage in North Dakota, he said.
The oil boom has spurred several "Jed Clampett-like" tales of ordinary folks getting rich, said Tom Rolfstad, the economic development director for the city of Williston.
Rolfstad said he hasn't spotted any Ferraris or Rolls Royces in town, though several people can afford them now.
"I'm seeing a lot more big, shiny gas-guzzling pickups," he said.
Several homes that cost more than a million dollars also are being built in Williston, he said. The community of about 12,500 people is perhaps best known as the hometown of NBA coach Phil Jackson.
Most people "don't want people to know how much money they got and they don't want to be tagged with being wealthy -- they want to be themselves," Rolfstad said.
Oscar and Lorene Stohler said their newly found wealth hasn't changed them.
"We still know what tough times are," Oscar said. "We grew up in the Dirty '30s."
"We put our kids through college without that oil money," Lorene said.
The couple moved a few miles east to Beulah and paid cash for their new home, the first one they have owned. They have established trust accounts for their four children.
Lorene said the only thriftless purchase was an automatic sprinkler system for her flowers that surround the couple's new home. And Oscar bought a $1,000 ring for his wife to celebrate their 60th wedding anniversary.
"We got enough now to buy new stuff," Lorene said, "but we like our old stuff."
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