An education of the North Dakota oil boom is underway. The North Dakota Petroleum Council is holding its annual meeting in the eastern part of the State for the first time, in Grand Forks.
The 30-billion dollar a year oil industry has already created more than 300 spin off businesses across the State, including more than 100 right here in Grand Forks. And oil experts say if you're an entrepreneur, there are many more opportunities.
Ron Ness, ND Petroleum Council: "Look at the amount of construction going on, the home building, the roads. But, beyond that there are so many business services needed in the oil and gas industry, that it just continues to grow and magnify, creating more entrepreneurial opportunities."
Doug Johnson started selling high efficiency oil and water pumps in tiny Lignite North Dakota. Now, he has a good sized company on his hands.
Doug Johnson, HG Pumping: "It's really been great for us the Bakken… I've got 105 people."
Folks are coming up with all kinds of new products for the oil industry.
Tom Roeen, Power Blanket: "Power Blanket is a electrically powered heating solution that we provide for freeze protection and heating tanks and things of that nature."
If you'd like to learn more about the oil industry and some potential business opportunities, come on out to the Alerus Center on Monday afternoon. Plus, they're holding a free, public barbeque from 5:00 to 7:30 p.m. on Monday evening.