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Checks and Balance from The Economist

Checks and Balance: Gold lone star

Checks and Balance from The Economist

The Economist

Politics, News & Politics, News, Us Politics

4.61.7K Ratings

🗓️ 24 March 2023

⏱️ 45 minutes

🧾️ Download transcript

Summary

Texas is on a roll.  People and companies are flocking to the Lone Star State.  It’s an energy pioneer, its size means it has a significant say in national politics and its coffers are full, in part due to an influx of federal money.   What’s behind the Texan boom?


Texas’s governor Greg Abbott makes the case for his state.  We go back to the abrupt end of a previous Texan boom.  And developer Ross Perot junior explains why it’s easy to do business in Texas.


John Prideaux hosts with Charlotte Howard and Alexandra Suich Bass. 


You can now find every episode of Checks and Balance in one place and sign up to our weekly newsletter. For full access to print, digital and audio editions, as well as exclusive live events, subscribe to The Economist at economist.com/uspod.



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Transcript

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0:00.0

In a park in Amarillo, Texas, there's a pot of gold of sorts.

0:08.0

It's inside a stainless steel sculpture with three arms that form a tripod on the ground

0:13.0

and another that stretches 60 feet up into the sky.

0:16.9

The helium Centennial Time Columns Monument was erected in 1968 to mark the 100th anniversary

0:23.6

of the discovery of the gas.

0:26.4

Each of the arms contains a time capsule to be opened as certain number of years after

0:31.0

the monument's dedication.

0:32.5

It's in the last arm that the treasure lies.

0:35.7

A thousand years on from 1968, it'll be unlocked, and, along with some mementos and historical

0:41.5

documents, the Texans of the future will find a passbook to a bank account.

0:47.4

In 1968, ten dollars were put into that account.

0:51.4

In 2968, that's expected to be worth something in the region of one quadrillion dollars.

0:58.4

The Texans of today don't necessarily need to wait a millennium to strike it rich, though.

1:03.2

Their state is booming.

1:05.8

I'm John Prado, and this is Chex and Balance from the Economist.

1:12.6

Each week we take one big theme, shaping American politics, and explore it in death.

1:21.4

Today, what's behind the Texan boom?

1:39.8

Texas is on a roll.

1:41.6

People and companies are flocking to the Lone Star State.

1:44.3

It's an energy pioneer, leading the nation in oil and gas production, but also, perhaps

1:50.3

more surprisingly, in renewables like wind and solar.

1:54.3

Its size means it has a significant say in national politics, and its coffers are full,

...

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