Cramer invites Goldman Sachs CEO to comment on state’s investment prospects

BISMARCK, N.D. (KFYR) - North Dakota’s energy and political leaders have been trying to position the state as an energy innovation leader for years. Thursday, the industry was given an opportunity to connect with a top executive with a globally recognized institution.

Sen. Kevin Cramer, R-N.D., hosted Goldman Sachs CEO David Solomon as part of a new speaker series. While discussing the need for investment in North Dakota coal, Solomon said it won’t be the largest banks getting involved, but carbon capture opens the door for other large investment groups.

“Our job is to finance business and to help businesses progress. We believe there’s a transition going on. There are going to be places where reputationally we draw some lines. But broadly speaking, as you’re talking about, we going to be financing and working with oil companies, gas companies, fossil fuel companies for quite some time because they’re an important part of our economic engine,” said Solomon.

He added firms will be looking at coal investments on a project-by-project basis. According to the North Dakota Transmission Authority, coal generated power decreased by 3% from 2019-2020 in the state.