ND Senate advances tax breaks for fracking

The North Dakota Senate has passed a bill that would give tax incentives to oil companies for “restimulating” oil wells in the state through hydraulic fracturing, also known as fracking. Fracking involves injecting high-pressure water deep underground to extract oil or gas from rock. Environmental groups have long opposed the practice, saying it can pollute groundwater and contributes to climate change. Supporters said the bill would benefit mineral owners, the state and environment; whereas opponents said oil companies can afford to restimulate wells without a tax break. Restimulation refers to the process of converting an old oil well into an updated well with enhanced oil production.

AP