Read this article http://www.kfyrtv.com/content/news/New-rules-and-regulations-coming-for-ND-oil-and-gas-industries-384936321.html and answer the following questions . Remember to be polite and use economic analysis. i) What does this do to the cost of U.S. oil production in the short run? ii) What does this do to the cost of U.S. oil production in the long run? iii) How much does your answers to parts i) and ii) depend on the nature of oil well costs. Given that the majority of the costs are purchasing the land, drilling, and shipping the oil, which are negotiated years in advance. iv) Do you think this policy will unfairly advantage large oil companies as compared to smaller ones? What would be the consequences if this was the case?
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