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North Dakota's reserve fund to someday replace oil revenues is at risk of not being able to realize its intended potential if spending levels persist, critics including former Gov. Ed Schafer warn.
State officials are spending Legacy Fund earnings like sailors on shore leave, without any kind of a strategy for a fund created to provide a perpetual stream to replace finite oil and gas revenues.
Supporters of tax breaks and grant programs for oil companies say propping up the industry enriches the state.
Opinion
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