EFFECTS OF ENERGY DEVELOPMENT ON AGRICULTURAL LAND VALUES

This paper uses multiple regression analysis to examine the effects of energy resource development on sale prices of agricultural land in western North Dakota. The findings suggest that energy resources development has exerted only modest upward pressure on agricultural land values in the northern Great Plains. The land market in this region remains dominated by active farmers who are purchasing farmland as a long-term investment, and energy development has not had a major impact on the structure of that market.