Even Amerada officials thought their well would be a flop. Iverson didn't exactly get rich off the well. They and their families put a strain on community services, overcrowded schools, wore out roads and converted every unused granary, shed and garage into living space or offices. Their presence also created an economic boom unlike anything the area had ever experienced. Hotels are filled.
Cafes are busy.
Bank accounts are going up. Despite this strong start, the state's oil industry spent the next nearly four decades on a roller coaster ride of ups and downs, subject to the whims of the economy and worldwide oil prices. It's now going through one of its worst slumps. Oil prices dropped to their lowest levels in 12 years in the United States at the end of last year and nearly all of North Dakota's wells are shut down. Another source tapped North Dakotans have been using coal since the late 1800s, when they dug it out of pits or chipped it from seams along riverbanks.